Astoria Multifamily Investment
30-76 33rd Street, Queens, NY 11102
Seven-unit apartment building near 30th Avenue train station.
Type:Multi Family
Property size:
6,468 SFPrice / SF:
$363/SF- Added:
- Jun 28, 2023
- Days on Market:
- 1072
- Last Refresh:
- Mar 13 at 6:28 pm
Property Features for 30-76 33rd Street
General Information
- Standard status
- Active
- Size
- 6,468 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1924
Listing agent Imran Khan (718) 274-2400
Listing office Realty Executives Today (718) 274-2400
Listing date Jun 28, 2023
Source Compass
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Realty Executives Today
HighLights
- Prime Astoria location: Half a block from 30th Avenue and two blocks from the 30th Avenue train station.
- Strong income potential: Current monthly rental income of $15,990 with potential to reach $191,880 annually.
- Spacious, renovated units: Each apartment offers approximately 925 sq ft of living space, and six of the seven units have been tastefully renovated.
- Three vacant, free‑market units: Opportunity to immediately increase income by leasing the three vacant units at market rates.
- Well‑maintained building: Equipped with a gas boiler, private water heater, and a roof in excellent condition.
- Desirable amenities: Features include living room/dining room combos, walk‑in closets, and proximity to public transportation and parks.
Overview
This 7-unit apartment building is located a short distance from 30th Avenue and the 30th Avenue train station in Astoria. The property generates $15,990 in monthly rental income. Five units are rent-stabilized, and two are free market. Four units are occupied, averaging $1,672 per unit. There are three vacant units. The potential market rent for the two-bedroom units ranges from $3,300 to $3,700. Once all units are leased, the total monthly income will reach $15,990, resulting in a gross annual income of $191,880. With estimated expenses at approximately 30%, the property offers a cap rate of around 6%. Each apartment offers approximately 925 square feet of living space, featuring two bedrooms, a living room, a kitchen, and a full bathroom. Every unit includes closet space. Six of the units have been renovated with modern upgrades, while the remaining unit is well-maintained and currently occupied. The building is equipped with a gas boiler and a private water heater. The roof is in excellent condition.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $298.8k | $46.20 |
| − Vacancy | −$11.4k | −$1.76 |
| EGI | $287.5k | $44.44 |
| − OpEx | −$129.4k | −$20.00 |
| NOI | $158.1k | $24.44 |
6,468 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.26M
$1.98M – $2.64M
NOI $158,107 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.77M
$4.17M – $5.56M
NOI $333,780 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.905909
- Latitude
- 40.778685
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Seven-unit apartment building near 30th Avenue train station.
Where is this apartment building located?
The property is located at 30-76 33rd Street Queens, NY.
What is the asking price?
The asking price for this property is $2,349,000.
What are key features of this property?
This property features: Prime Astoria location: Half a block from 30th Avenue and two blocks from the 30th Avenue train station.; **Strong income potential:** Current monthly rental income of $15,990 with potential to reach $191,880 annually.; **Spacious, renovated units:** Each apartment offers approximately 925 sq ft of living space, and six of the seven units have been tastefully renovated.
