Building
| Type: | Low-rise |
|---|---|
| Era: | Post-war |
| Floors: | 5 |
Property
| Ownership: | income-property |
|---|---|
| Rooms: | 40 |
| Bedrooms: | 20 BR |
| Bathrooms: | 24 |
| Pets: | Pets Cats |
FinancialsPrice:$6,750,000Maintenance:$500Real estate tax:$11,338
DescriptionWelcome to a prime investment opportunity in the heart of Astoria! This well-maintained 24-unit property is ideally situated in one of Astoria’s most vibrant and desirable neighborhoods, offering both convenience and strong appeal to residents and investors alike. With a net operating income of $403,000 and a current cap rate of 5.9%, this property represents a lucrative opportunity with solid returns and long-term growth potential.
The building features: 9 spacious, recently renovated free-market one-bedroom apartments – allowing flexibility in rental pricing to maximize income based on current market demand.
14 rent-stabilized one-bedroom units and 1 rent-stabilized two-bedroom unit – providing consistent cash flow. Notably, 12 of these apartments are currently rented below market value, and under current regulations, the landlord can charge market rent upon vacancy.
Additional Property Highlights:
- Building Size: 38 ft x 93 ft.
- Lot Size: 38.09 ft x 105 ft.
- New Boiler Installed.
This property offers investors a unique blend of stable income and future upside potential through rent adjustments and property appreciation in a rapidly growing neighborhood.
Amenities- Voice Intercom
- Walk-up
NeighborhoodMore listings:
Welcome to a prime investment opportunity in the heart of Astoria! This well-maintained 24-unit property is ideally situated in one of Astoria’s most vibrant and desirable neighborhoods, offering both convenience and strong appeal to residents and investors alike. With a net operating income of $403,000 and a current cap rate of 5.9%, this property represents a lucrative opportunity with solid returns and long-term growth potential. The building features: 9 spacious, recently renovated free-market one-bedroom apartments – allowing flexibility in rental pricing to maximize income based on current market demand. 14 rent-stabilized one-bedroom units and 1 rent-stabilized two-bedroom unit – providing consistent cash flow. Notably, 12 of these apartments are currently rented below market value, and under current regulations, the landlord can charge market rent upon vacancy. Additional Property Highlights: - Building Size: 38 ft x 93 ft. - Lot Size: 38.09 ft x 105 ft. - New Boiler Installed. This property offers investors a unique blend of stable income and future upside potential through rent adjustments and property appreciation in a rapidly growing neighborhood.
- Voice Intercom
- Walk-up
NeighborhoodMore listings:
Welcome to a prime investment opportunity in the heart of Astoria !
DescriptionWelcome to a prime investment opportunity in the heart of Astoria! This well-maintained 24-unit property is ideally situated in one of Astoria’s most vibrant and desirable neighborhoods, offering both convenience and strong appeal to residents and investors alike. With a net operating income of $403,000 and a current cap rate of 5.9%, this property represents a lucrative opportunity with solid returns and long-term growth potential.
The building features: 9 spacious, recently renovated free-market one-bedroom apartments – allowing flexibility in rental pricing to maximize income based on current market demand.
14 rent-stabilized one-bedroom units and 1 rent-stabilized two-bedroom unit – providing consistent cash flow. Notably, 12 of these apartments are currently rented below market value, and under current regulations, the landlord can charge market rent upon vacancy.
Additional Property Highlights:
- Building Size: 38 ft x 93 ft.
- Lot Size: 38.09 ft x 105 ft.
- New Boiler Installed.
This property offers investors a unique blend of stable income and future upside potential through rent adjustments and property appreciation in a rapidly growing neighborhood.
Amenities- Voice Intercom
- Walk-up
NeighborhoodMore listings:
Welcome to a prime investment opportunity in the heart of Astoria! This well-maintained 24-unit property is ideally situated in one of Astoria’s most vibrant and desirable neighborhoods, offering both convenience and strong appeal to residents and investors alike. With a net operating income of $403,000 and a current cap rate of 5.9%, this property represents a lucrative opportunity with solid returns and long-term growth potential. The building features: 9 spacious, recently renovated free-market one-bedroom apartments – allowing flexibility in rental pricing to maximize income based on current market demand. 14 rent-stabilized one-bedroom units and 1 rent-stabilized two-bedroom unit – providing consistent cash flow. Notably, 12 of these apartments are currently rented below market value, and under current regulations, the landlord can charge market rent upon vacancy. Additional Property Highlights: - Building Size: 38 ft x 93 ft. - Lot Size: 38.09 ft x 105 ft. - New Boiler Installed. This property offers investors a unique blend of stable income and future upside potential through rent adjustments and property appreciation in a rapidly growing neighborhood.
- Voice Intercom
- Walk-up
NeighborhoodMore listings:
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All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
