Remarks

Prime Investment Opportunity in Astoria – 20-Unit Multi-Family Building

Offered for the first time in nearly six decades, this well-maintained, 20-unit walk-up building in the heart of Astoria, Queens, presents a rare and rewarding opportunity for investors. Owned by the same family for 58 years, it’s now ready for new stewardship and continued growth.

This four-story property features a desirable mix of eight two-bedroom units, eight one-bedroom units, and four studios, offering a strong rental base and broad tenant appeal. Its prime location ensures consistent demand, with proximity to major NYC transit, top schools, hospitals, and an array of shopping, dining, and entertainment options.

Astoria continues to be one of New York City’s most sought-after neighborhoods, offering a balance of community charm and urban convenience. The building is in solid condition, with stable occupancy and efficient day-to-day management.

Highlights Include:

Strong Market Fundamentals: Located in a high-demand, supply-constrained neighborhood.

Diversified Unit Mix: Appeals to a broad tenant demographic.

Value-Add Potential: Opportunities for rent growth and upgrades.

Turnkey Management: Clean physical condition and long-term tenant base.

Whether you’re expanding your portfolio or entering the multifamily sector, this property represents a compelling blend of stability and upside. With time and strategic stewardship, you’ll find this investment both gratifying and profitable.

Income, expense statements, and rent roll available upon request.

Details

MLS#: 817117
Price: $4,900,000

Style: Multi Family
Sq Ft: 14000
Year Built: 1928

County: Queens
Tax Fee: 77294.06