Multifamily Homes with
For Sale
$2,000,000
20-65 48th Street, Astoria, NY 11105
Two recently built legal three-family residences include private driveways, garages, basements, and balconies.
Property Size2,556 SF
Price / SF$782.47
Days on Market12
Property Features for 20-65 48th Street
General Information
Standard status
Active
Size
2,556 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR+/2BA upper-floor, 2 x 2BR+/2BA middle-floor, 2 x 1BR/1BA ground-floor ADA-compliant
Multifamily Units
6
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$9,248
Amenities
balconies
private driveway
garage
full basement
Finished,Storage Space,Walk-Out Access
5
No
Yes
Casement,ENERGY STAR Qualified Windows
Other
Finished, Storage Space, Walk-Out Access
Vinyl
Public
2
Driveway, Garage, Off Street
2556
Public Maintained Road
Building Details
Building Size
2,556 SF
Year Built
2021
Buildings
2
Listing Agency:
(516) 703-2918
Listed By:
Michael Giordano
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 31
Last Checked: Oct 31 at 2:39AM
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 Michael Giordano
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Investment Insights
Based on property information with market context.
Built in 2021, the property comprises two legal three-family homes. Both buildings have a private driveway, garage, full basement, and multiple balconies. The described unit layouts include two upper- and middle-floor residences with two-plus bedrooms and two bathrooms, along with a ground-floor one-bedroom, one-bathroom unit with ADA-compliant features and walk-out access.
The property is on 48th Street, one block north of Ditmars Boulevard in Astoria. Nearby context includes local shops, dining, and transportation. Plans for a dedicated laundry room, additional storage, and a shared backyard are noted as potential future additions.
The property is on 48th Street, one block north of Ditmars Boulevard in Astoria. Nearby context includes local shops, dining, and transportation. Plans for a dedicated laundry room, additional storage, and a shared backyard are noted as potential future additions.
Key Highlights
- Two legal three‑family homes built in 2021
- Each building includes a private driveway, garage, full basement, and multiple balconies
- Layouts include two‑plus‑bedroom, two‑bath upper- and middle‑floor residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,480
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,249,600
$1.2M
Cap Rate 7%
$892,571
$892.6K
Cap Rate 9%
$694,222
$694.2K
Market Conditions
NOI Build-Up for 2,556 SF
Gross rent
$118.1K $46.20/SF
− Vacancy
−$4.5K −$1.76/SF
EGI
$113.6K $44.44/SF
− OpEx
−$51.1K −$20.00/SF
NOI
$62.5K $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%
$1,249,600
Cap Rate 7%
$892,571
Cap Rate 9%
$694,222
Alternative Uses
Best Use
Apartment 5plus
$892.6K
$781.0K – $1.04M
NOI $62,480 @ 7.0% cap · market cap 3.12%
Second Best
Multifamily LT 5
$604.4K
$528.8K – $705.1K
NOI $42,306 @ 7.0% cap · market cap 2.12%
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,902 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,377
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Two recently built legal three-family residences include private driveways, garages, basements, and balconies.
Where is this triplex located?
The property is located at 20-65 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 homes built in 2021; Each building includes a private driveway, garage, full basement, and multiple balconies; Layouts include two‑plus‑bedroom, two‑bath upper- and middle‑floor residences
