Renovated Three-Family Brick
For Sale
$1,795,000
2105 33rd Avenue, Astoria, NY 11106
Gut-renovated in 2013 and configured as three separately metered two-bedroom units in a semi-detached brick building.
Property Size2,740 SF
Days on Market57
Property Features for 2105 33rd Avenue
General Information
Standard status
Active
Size
2,740 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,711
Amenities
split units
stainless steel appliances
baseboard heating
full finished basement
private backyard
Building Details
Building Size
2,740 SF
Year Built
1915
Year Renovated
2013
Construction
brick
Listing Agency:
Blue Brick Real Estate
(718) 614-8349
Listed By:
Antonino Lo Verme · License #10491211001
Source:
Serhant
Added: Jun 29
Changed: Aug 23
Last Checked: Aug 22 at 10:03AM
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 Blue Brick Real Estate
Investment Insights
Based on property information with market context.
This gut-renovated 2013 brick semi-detached three-family home is designed for practical income flexibility and comfortable living. The property includes three spacious two-bedroom, two-bath apartments, with split heating and cooling units for individualized comfort. Each unit has separate utility metering, and interiors include stainless steel appliances and baseboard heating. A full finished basement adds additional usable space, and the home also offers a private backyard.
Located in Astoria, the property is about one block from Broadway, with shopping, dining, and everyday conveniences nearby. Transportation is described as highly accessible, with nearby bus routes, the N/W Broadway subway station, and the NYC Ferry providing service toward Manhattan and beyond.
The building is delivered completely vacant, allowing for immediate occupancy or straightforward conversion for an investment plan, depending on buyer preference.
Located in Astoria, the property is about one block from Broadway, with shopping, dining, and everyday conveniences nearby. Transportation is described as highly accessible, with nearby bus routes, the N/W Broadway subway station, and the NYC Ferry providing service toward Manhattan and beyond.
The building is delivered completely vacant, allowing for immediate occupancy or straightforward conversion for an investment plan, depending on buyer preference.
Key Highlights
- Brick semi‑detached three‑family home built in 1915, gut‑renovated in 2013
- Three spacious 2‑bedroom, 2‑bath apartments with separate, individually metered utilities
- Each unit has split‑system cooling, plus baseboard heating
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
$66,978
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
3.73%
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%
$1,339,560
$1.3M
Cap Rate 7%
$956,829
$956.8K
Cap Rate 9%
$744,200
$744.2K
Market Conditions
NOI Build-Up for 2,740 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
$126.6K $46.20/SF
− Vacancy
−$4.8K −$1.76/SF
EGI
$121.8K $44.44/SF
− OpEx
−$54.8K −$20.00/SF
NOI
$67.0K $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 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%
$1,339,560
Cap Rate 7%
$956,829
Cap Rate 9%
$744,200
Alternative Uses
Best Use
Apartment 5plus
$956.8K
$837.2K – $1.12M
NOI $66,978 @ 7.0% cap · market cap 3.73%
Second Best
Multifamily LT 5
$647.9K
$566.9K – $755.9K
NOI $45,351 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,397 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 11106, NY
41,722
Population
21,681
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
46,358
Density / Sq Mi
$85,573
Median Household Income
$62,254
Median Earnings
$2,032
Median Rent
$639,200
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?
Triplex - Gut-renovated in 2013 and configured as three separately metered two-bedroom units in a semi-detached brick building.
Where is this triplex located?
The property is located at 2105 33rd Avenue Astoria, NY.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Brick semi‑detached three‑family home built in 1915, gut‑renovated in 2013; Three spacious 2‑bedroom, 2‑bath apartments with separate, individually metered utilities; Each unit has split‑system cooling, plus baseboard heating
