Two-Building Triplex
20-63 48th Street, Astoria, NY 11105
For Sale
$2,000,000
Both residences contain three legal units and offer private driveways, garages, and full basements.
Property Size2,709 SF
Price / SF$738.28
Days on Market25
Property Features for 20-63 48th Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
balconies
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Realty Executives Today
(718) 274-2400
Listed By:
Minas Styponias
(646) 530-3224
Source:
Clairedleone
Added: Oct 15
Changed: Nov 7
Last Checked: Nov 7 at 12:08PM
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
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Investment Insights
Based on property information with market context.
Built in 2021, this Astoria property comprises two legal three-family residences. Each building has a private driveway, garage, full basement, and multiple balconies. The unit mix includes upper- and middle-floor residences with convertible two-bedroom-plus layouts and two bathrooms, alongside a ground-floor one-bedroom, one-bathroom ADA-compliant unit with walk-out access.
The property is on 48th Street, one block north of Ditmars Boulevard, near local shops, dining, and transportation. Plans for a laundry room, additional storage, and a shared backyard have been prepared as potential additions.
The property is on 48th Street, one block north of Ditmars Boulevard, near local shops, dining, and transportation. Plans for a laundry room, additional storage, and a shared backyard have been prepared as potential additions.
Key Highlights
- Two legal three‑family residences, both built in 2021
- Each building includes a private driveway, garage, full basement, and multiple balconies
- Upper- and middle‑floor units offer convertible 2‑bedroom‑plus layouts and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,220
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,324,400
$1.3M
Cap Rate 7%
$946,000
$946.0K
Cap Rate 9%
$735,778
$735.8K
Market Conditions
NOI Build-Up for 2,709 SF
Gross rent
$125.2K $46.20/SF
− Vacancy
−$4.8K −$1.76/SF
EGI
$120.4K $44.44/SF
− OpEx
−$54.2K −$20.00/SF
NOI
$66.2K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,324,400
Cap Rate 7%
$946,000
Cap Rate 9%
$735,778
Alternative Uses
Best Use
Apartment 5plus
$946.0K
$827.8K – $1.10M
NOI $66,220 @ 7.0% cap · market cap 3.31%
Second Best
Multifamily LT 5
$640.5K
$560.5K – $747.3K
NOI $44,838 @ 7.0% cap · market cap 2.24%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,797 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,377
Businesses Nearby
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Business Placement
Demographics for 11105, NY
38,001
Population
17,518
Households
2.2
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
1.6 sq mi
ZIP Area
23,751
Density / Sq Mi
$100,306
Median Household Income
$62,464
Median Earnings
$2,211
Median Rent
$1,089,000
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Queens County, NY
Properties on Market for Triplexes in Queens County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Both residences contain three legal units and offer private driveways, garages, and full basements.
Where is this triplex located?
The property is located at 20-63 48th Street Astoria, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Two legal three‑family residences, both built in 2021; Each building includes a private driveway, garage, full basement, and multiple balconies; Upper- and middle‑floor units offer convertible 2‑bedroom‑plus layouts and 2 bathrooms
