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$ 2,800,000
Est. payment /mo
New
3018 23rd ST Astoria, NY 11102
2,500 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1010639
Rental Info No
Year Built 2006
Annual Tax Amount $70,455
Lot Size 2,500 Sqft
Acres 0.0574
Property Sub-Type Multi Family
Source onekey2
Property Description
8-Family Building For Sale
Outstanding investment opportunity in the heart of Astoria. 30-18 23rd Street is an income-producing 8-family multifamily building featuring a strong and highly rent-able unit mix: one studio apartment, six one-bedroom apartments, and one two-bedroom duplex penthouse.
The property is currently generating approximately $244,605.60 in annual gross income, including laundry income, with an estimated current NOI of approximately $160,400. Based on projected market rents, the building has potential to generate approximately $285,600 in annual gross income, with a projected pro forma NOI of approximately $201,400.
This well-positioned Astoria asset offers immediate cash flow with upside potential, making it an excellent opportunity for investors seeking a stable multifamily property in a desirable Queens rental market. The two-bedroom duplex penthouse provides premium rental appeal, while the six one-bedroom apartments and studio offer consistent tenant demand and a balanced income stream.
Current & Potential Rent Roll
Unit:Layout-Current Monthly Rent -Potential Monthly Rent
1F Studio $1,676.56 PR:$2,100
1R 1 Bedroom $2,799.85 PR$3,250
2F 1 Bedroom $2,525.00 PR$2,750
2R 1 Bedroom $2,422.32 PR$2,800
3F 1 Bedroom $2,211.69 PR$2,750
3R 1 Bedroom $2,422.33 PR$2,800
4F 2 Bedroom Duplex Penthouse $3,661.34 PR$4,200
4R 1 Bedroom $2,464.71 PR$2,850
Laundry Additional Income $200 PR$300
Current Monthly Income: $20,383.80
Current Annual Gross Income: $244,605.60
Projected Monthly Income: $23,800
Projected Annual Gross Income: $285,600
Annual Expenses
Expense Annual Amount
Water $3,600
Con Edison $800
Taxes $70,803
Sprinkler Maintenance $3,000
Insurance $6,000
Total Annual Expenses: $84,203
Current NOI: Approximately $160,400
Projected NOI: Approximately $201,400
Outstanding investment opportunity in the heart of Astoria. 30-18 23rd Street is an income-producing 8-family multifamily building featuring a strong and highly rent-able unit mix: one studio apartment, six one-bedroom apartments, and one two-bedroom duplex penthouse.
The property is currently generating approximately $244,605.60 in annual gross income, including laundry income, with an estimated current NOI of approximately $160,400. Based on projected market rents, the building has potential to generate approximately $285,600 in annual gross income, with a projected pro forma NOI of approximately $201,400.
This well-positioned Astoria asset offers immediate cash flow with upside potential, making it an excellent opportunity for investors seeking a stable multifamily property in a desirable Queens rental market. The two-bedroom duplex penthouse provides premium rental appeal, while the six one-bedroom apartments and studio offer consistent tenant demand and a balanced income stream.
Current & Potential Rent Roll
Unit:Layout-Current Monthly Rent -Potential Monthly Rent
1F Studio $1,676.56 PR:$2,100
1R 1 Bedroom $2,799.85 PR$3,250
2F 1 Bedroom $2,525.00 PR$2,750
2R 1 Bedroom $2,422.32 PR$2,800
3F 1 Bedroom $2,211.69 PR$2,750
3R 1 Bedroom $2,422.33 PR$2,800
4F 2 Bedroom Duplex Penthouse $3,661.34 PR$4,200
4R 1 Bedroom $2,464.71 PR$2,850
Laundry Additional Income $200 PR$300
Current Monthly Income: $20,383.80
Current Annual Gross Income: $244,605.60
Projected Monthly Income: $23,800
Projected Annual Gross Income: $285,600
Annual Expenses
Expense Annual Amount
Water $3,600
Con Edison $800
Taxes $70,803
Sprinkler Maintenance $3,000
Insurance $6,000
Total Annual Expenses: $84,203
Current NOI: Approximately $160,400
Projected NOI: Approximately $201,400
Location
State NY
County Queens
Rooms
Basement Finished
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features None
Utilities Available Cable Available, Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Trash Collection Public, Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Ps 234
Middle Schools Academy For New Americans
High Schools Queens 30
School District Queens 30
Others
Special Listing Condition None
Listed by Astoria Realty Brokerage Svcs • Marius Rungo