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Property profile & analytics
OFF-MARKET Estimated value $1,055,000
Apartment buildings

2219 Steinway St Long Island City, NY 11105-1866

4,500 SF 0.06 ac lot Built 1900
Individually Owned 28-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US63-1898784
Property summary
AI-generated overview

This exceptional six-unit multi-family property is situated in the desirable Ditmars and Steinway area of Astoria, New York. The building boasts a total of 4,500 square feet and sits on a 0.06-acre lot. The property features four two-bedroom, one-bathroom units, strategically arranged with two units per floor. A single one-bedroom unit is located on the first floor, offering a diverse rental mix. Recent renovations have significantly enhanced the property's value and appeal. These improvements include a brand new roof, a completely replaced boiler and hot water heater, ensuring efficient and reliable operation. Furthermore, the installation of new gas meters and individual gas lines for each unit provides tenants with independent utility control and reduces operational complexities. The third-floor unit has been recently updated with fresh paint and modern enhancements, showcasing a commitment to maintaining high-quality living spaces. This property presents a compelling investment opportunity, ideally positioned within easy reach of public transportation, parks, shopping centers, and schools. The combination of its prime location, recent upgrades, and strong rental potential makes this a highly attractive investment in the thriving Astoria real estate market. The asking price is $1,700,000.

Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1900
Total area 4,500 SF
Lot 0.06 ac (2,500 SF)
Zoning code R5D
APN 00795-0025
UPID US63-1898784
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.06M
Owner & transaction history
Theodore Poulimas · 28 yrs held
Theodore Poulimas
since 1998
4 recorded transactions
2022
Price N/A
1998
$200,000
1969
Price N/A
1969
Price N/A
Zoning & alternative use
R5D · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building $1.6M +26.0%
Warehouse, storage $1.4M +7.4%
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