10-Unit Apartment
For Sale
$2,349,999
30-20 43rd Street Astoria, Ny, NY 11103
Brick multifamily property with a varied unit mix and access to multiple public transportation options.
Property Size5,019 SF
Price / SF$468.22
Days on Market55
Property Features for 30-20 43rd Street Astoria
General Information
Standard status
Active
Size
5,019 SF
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR, 6 x 1BR, 2 x studio
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$25,491
Amenities
Full
Hardwood
3
Yes
Public
No
5019
Public Maintained Road
Building Details
Building Size
5,019 SF
Year Built
1924
Buildings
1
Stories
3
Construction
brick
Listing Agency:
(718) 684-8000
Listed By:
Andrew Boodhoo
(718) 684-8000
Source:
Parkassets
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 30 at 1:07PM
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 Andrew Boodhoo
Investment Insights
Based on property information with market context.
Built in 1924, this brick apartment building contains 5,019 square feet and a 10-unit residential configuration. The mix includes two two-bedroom apartments, six one-bedroom apartments, and two studio apartments. The structure measures approximately 27.25 by 68 feet and is identified as a legal multifamily property.
Public transportation access includes the N/W 30th Avenue station, M/R service at Steinway Street and 46th Street, and the Q18 bus along Steinway Street. The property also offers access to the Grand Central Parkway, Triboro Bridge, and Queensboro Bridge. Nearby surroundings include schools, houses of worship, shopping centers, and restaurants.
Public transportation access includes the N/W 30th Avenue station, M/R service at Steinway Street and 46th Street, and the Q18 bus along Steinway Street. The property also offers access to the Grand Central Parkway, Triboro Bridge, and Queensboro Bridge. Nearby surroundings include schools, houses of worship, shopping centers, and restaurants.
Key Highlights
- 10‑unit apartment building with two two‑bedroom, six one‑bedroom, and two studio apartments
- 5,019 square feet in a brick building constructed in 1924
- Building dimensions of 27.25 x 68 feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$157,031
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,140,620
$3.1M
Cap Rate 7%
$2,243,300
$2.2M
Cap Rate 9%
$1,744,789
$1.7M
Market Conditions
NOI Build-Up for 5,019 SF
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.
Gross rent
$300.5K $59.88/SF
− Vacancy
−$15.0K −$2.99/SF
EGI
$285.5K $56.89/SF
− OpEx
−$128.5K −$25.60/SF
NOI
$157.0K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,140,620
Cap Rate 7%
$2,243,300
Cap Rate 9%
$1,744,789
Alternative Uses
Best Use
Apartment 5plus
$2.24M
$1.96M – $2.62M
NOI $157,031 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$12.49M
$10.93M – $14.58M
NOI $874,511 @ 7.0% cap · market cap 37.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,213
Businesses Nearby
Explore this area
Business Placement
Demographics for 11103, NY
37,362
Population
18,833
Households
2
Avg Household Size
36
Median Age
52%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
53,374
Density / Sq Mi
$92,787
Median Household Income
$59,050
Median Earnings
$2,120
Median Rent
$1,003,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with a varied unit mix and access to multiple public transportation options.
Where is this apartment building located?
The property is located at 30-20 43rd Street Astoria Ny, NY.
What is the asking price?
The asking price for this property is $2,349,999.
What are key features of this property?
This property features: 10‑unit apartment building with two two‑bedroom, six one‑bedroom, and two studio apartments; 5,019 square feet in a brick building constructed in 1924; Building dimensions of 27.25 x 68 feet
