25-21 23rd Street #24 new Save Request In-Person Tour Request Virtual Tour
Queens,NY 11102
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 17,670 sqft
Price per Sqft $382
Subdivision Astoria
MLS Listing ID RLS20025199
Style Walk-Up
Bedrooms 20
HOA Fees $500/mo
Year Built 1916
Annual Tax Amount $136,056
Property Sub-Type Multi Family
Property Description
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.
Location
State NY
County Queens
Building Detail https://www.anthonytcrews.com/nyc/buildings/25-21-23rd-st?listingId=1163136264
Interior
Laundry See Remarks
Exterior
View Y/N Yes
View City
Building
Dwelling Type Multi Family
Story 5
New Construction No
Others
Monthly Total Fees $11,838
Pets Allowed Building Cats OK,Cats OK