Eight Family Building For Sale - Astoria

09-28-2021
03-28-2022

31-13 23rd St, Astoria, NY 11106

This eight-family building is five years old, and features excellent finishes with top-of-the-line appliances, laundry in the basement, and a huge backyard. The building also includes two huge terraces on the top floor apartments, a surveillance system, and storage spaces allocated for each apartment.

The building consists of the following:
Apt 1F - One-bedroom duplex and 1.5 Baths
Apt 1R - Two-bedroom duplex with 1.5 baths and a huge backyard
Apt 2F - Two-bedroom apartment 
Apt 2R - Two-bedroom apartment 
Apt 3F - Two-bedroom apartment with a Juliette-style balcony
Apt 3R - Two-bedroom apartment 
Apt 4F - One-bedroom apartment with a huge terrace (31 x 10)
Apt 4R - One bedroom apartment with a huge terrace (31 x 10) 
All the utilities are separate and paid by the tenants.

Gross Annual Income = $241,800
Total Yearly Expenses = $12,594
Net Yearly Operating Income = $229,206
Cap rate = 4.17%

Property Description

This eight-family building is five years old, and features excellent finishes with top-of-the-line appliances, laundry in the basement, and a huge backyard. The building also includes two huge terraces on the top floor apartments, a surveillance system, and storage spaces allocated for each apartment.

The building consists of the following:
Apt 1F - One-bedroom duplex and 1.5 Baths
Apt 1R - Two-bedroom duplex with 1.5 baths and a huge backyard
Apt 2F - Two-bedroom apartment 
Apt 2R - Two-bedroom apartment 
Apt 3F - Two-bedroom apartment with a Juliette-style balcony
Apt 3R - Two-bedroom apartment 
Apt 4F - One-bedroom apartment with a huge terrace (31 x 10)
Apt 4R - One bedroom apartment with a huge terrace (31 x 10) 
All the utilities are separate and paid by the tenants.

Gross Annual Income = $241,800
Total Yearly Expenses = $12,594
Net Yearly Operating Income = $229,206
Cap rate = 4.17%

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Mid-Rise
Price
$ 5,299,000
No. of Units
8
Cap Rate
4.17%
Average Occupancy
100%
Year Built
2015
Building Size
6,569 Sq ft
Lot Size
3,275 Sq ft
No. of Stories
4
Zoning Code
R6B
Opportunity Zone
Off
Price per unit
$ 662,375

Financial Details

Income/Expense Info
Actual
Financial Year
2021
Gross Income
$ 241,800
Operating Expenses
$ 15,000
Net Operating Income
$ 226,800
View broker details
Sign in to use the inquiry form

40.766159, -73.928645

Similar Properties in the area