35-unit Astoria Multi-Family

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Address: 34-26 41st St, Astoria, New York, US
Created date: November 23, 2023
Date last updated: February 19, 2024

Property Description

Rare find 35-unit multi-family apartment building with 16 fair market units (eleven (11) one-bedroom and five (5) two-bedroom) and 19 rent-stabilized units (sixteen (16) one-bedroom and three (3) two-bedroom), located in Astoria, NY. 34-26 41st Street is close to key amenities, including endless options for supermarkets, restaurants, shopping, colleges, museums, parks, and entertainment. The entire tree-lined block is exclusively residential apartment buildings. adding to the overall neighborhood appeal for current and future tenants. The vestibule and lobby have been remodeled and upgraded with high-end finishes, an electronic key fob entry system, and a 15-camera security system to maintain overall property awareness. There is a coin-operated laundry room in the lobby as well. The building is one block over from Steinway Street, two blocks off Broadway, down the block from Northern Boulevard and nine blocks from Woodside Avenue. The R/M subway stop is half a block away at Steinway Street, and the N/W lines are also in the neighborhood.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Multifamily type: Affordable
Price: $9,000,000
No. of Units: 35
Cap Rate: 4.87%
GRM /GIM: 11.54
Average Occupancy: 100
Year Built: 1925
Building Size: 26,240 Sq ft
Lot Size: 9,500.00 Sq ft
No. of Stories: 4
APN: 00673-0034
Zoning Code: R5
Opportunity Zone: No
Price per unit: $257,143
Property Website Click Here
Address: 34-26 41st St

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent

FINANCIAL DETAILS

Income/expense info: Actual
Financial year: 2023
Gross income: 780060
Effective Gross income: 780060
Operating expenses: 341723
Net operating income: 438337
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