$ 5,000,000
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$5,000,000
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Bed -
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SqFt
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About the Listing HEYE01 - 173856
Multifamily Investment Offering 35-52 Steinway Street | Astoria, Queens, NY Property Overview---------------------------- Rare opportunity to acquire a 20-unit rent-stabilized multifamily building located on the highly desirable Steinway Street corridor in Astoria, Queens. This income-producing asset offers stable, predictable cash flow in one of New York City’s strongest rental markets. The property consists of 20 residential units, including 15 spacious two-bedroom apartments and 5 additional units with efficient layouts. The asset is well-suited for investors seeking long-term stability with upside potential in a high-demand location. Financial Overview------------------------ Asking Price: $5,500,000 Gross Scheduled Income: $404,040 Operating Expenses: $144,500 Net Operating Income (NOI): $259,540 Cap Rate: 5.19% Gross Rent Multiplier (GRM): 13.61 Price Per Unit: $275,000 Investment Highlights------------------- 20-unit rent-stabilized building Strong, consistent in-place income Majority two-bedroom unit mix Located on a prime commercial corridor High tenant demand and low vacancy area Long-term hold with stable returns Location Overview---------------------Astoria, Queens Positioned in the heart of Astoria along the vibrant Steinway Street corridor, the property benefits from immediate access to a wide range of retail, restaurants, and neighborhood amenities. Astoria is one of Queens’ most desirable residential neighborhoods, known for its diverse dining scene, cultural attractions, and convenient access to public transportation with a short commute to Midtown Manhattan. The area continues to attract steady renter demand, making it a proven and resilient multifamily submarket.
Listing Highlights
Status
Active
Days on Site
9
Property Type
Commercial Sale
MLS ®
980250
Year Built
1912
Total Square Footage
0
Lot/Acreage
0.1
County
Queens
School District
Queens 30
Elementary School
Ps 166 Henry Gradstein
Middle School
Is 141 Steinway (The)
High School
Frank Sinatra School Of The Arts High School
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Multi Units,Wall/Window Unit(s)
- Heating: Radiant
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished
- Other:
- Water: Public
Exterior Details
- Lot Description: No Waterfront
- Garage Capacity: N/A
- Parking Spaces: 0
- Roof:
- Others:
- Sewer: Public Sewer
Financial Details
- Tax Amount: $68,816
- Taxes w/Assessments: N/A
- Tax/Property ID: 00668-0040
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Questions About..
3552 Steinway St Long Island City, NY 11101
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