Astoria Three-Family House with
For Sale
$1,699,000
Pending
22-31 47th St, Queens, NY 11105
Charming three-family house in Astoria with parking and outdoor space.
Property Size2,680 SF
Lot Size0.07 Acres
Days on Market165
Property Features for 22-31 47th St
General Information
Standard status
Pending
Size
2,680 SF
Lot size
0.07 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$11,916
Building Details
Building Size
2,680 SF
Year Built
1965
Units
3
Listing Agency:
Compass
(516) 728-6521
Listed By:
Marc A Dimov
(516) 728-6521
Source:
Elliman
Added: Mar 11
Changed: Aug 15
Last Checked: Aug 21 at 12:04PM
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 Compass
Investment Insights
Based on property information with market context.
This semi-attached brick three-family house is located in the Ditmars section of Astoria. The property, suitable for investors or owner-occupiers, has an interior square footage of 2,618 and sits on a 25x120 lot. It features a one-bedroom, one-bathroom apartment on the ground floor with private outdoor space, and two two-bedroom, one-bathroom apartments on the upper floors. The property includes a front driveway and garage, along with a shared side driveway providing additional rear parking spaces for up to six cars. The building has East, West, and North exposures. The location provides convenient access to dining, shopping, and entertainment. Transportation options include proximity to the Grand Central Parkway, Brooklyn Queens Expressway, RFK Bridge, and the N/W train at Ditmars Blvd. This property is ideal for multi-generational living or as an income-producing investment.
Key Highlights
- Legal 3‑family house in the Ditmars section of Astoria, suitable for investors or owner‑occupiers.
- Includes a 1 Bed/1 Bath apartment with private outdoor space and two 2 Beds/1 Bath apartments.
- Ample parking space with a front driveway, garage, and shared side driveway with additional rear parking for up to six cars.
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
$63,995
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
3.77%
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%
$1,279,900
$1.3M
Cap Rate 7%
$914,214
$914.2K
Cap Rate 9%
$711,056
$711.1K
Market Conditions
NOI Build-Up for 2,618 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
$121.0K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$116.4K $44.44/SF
− OpEx
−$52.4K −$20.00/SF
NOI
$64.0K $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%
$1,279,900
Cap Rate 7%
$914,214
Cap Rate 9%
$711,056
Alternative Uses
Best Use
Apartment 5plus
$914.2K
$799.9K – $1.07M
NOI $63,995 @ 7.0% cap · market cap 3.77%
Second Best
Multifamily LT 5
$619.0K
$541.7K – $722.2K
NOI $43,332 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,101 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,339
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
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 - Charming three-family house in Astoria with parking and outdoor space.
Where is this triplex located?
The property is located at 22-31 47th St Queens, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Legal 3‑family house in the Ditmars section of Astoria, suitable for investors or owner‑occupiers.; Includes a 1 Bed/1 Bath apartment with **private outdoor space** and two 2 Beds/1 Bath apartments.; Ample parking space with a front driveway, garage, and shared side driveway with additional rear parking for up to six cars.
