Legal 7-Unit Multifamily
31-49 33 street, Astoria, NY 11106
- Added:
- Apr 20, 2026
- Days on Market:
- 55
- Last Refresh:
- Jun 13 at 4:06 am
Property Features for 31-49 33 street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- 100
- Bathrooms
- 7
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
- Parking features
- Garage
- Standard status
- Active
- Size
- 3,540 SF
Taxes and HOA fees
- Tax Annual Amount
- 18353
Utilities
- Heating system
- Natural Gas
Building Details
- Year built
- 1924
- Year renovated
- 1924
- Floors in Building
- 3
- Building materials
- Brick
- Roof type
- Flat
- Architectural style
- Other
Listing agent Christos Lolis (917) 968-8990
Listing office EAST COAST NEW YORK 35-20 BELL BLVD, BAYSIDE, NY (718) 428-2900
Listing date Apr 20, 2026
MLS# 11695533
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime Astoria Location: Close to restaurants, cafes and conveniences.
- Excellent Commuter Access: Just 2 blocks to the Broadway subway station (N/W lines) for direct access to Midtown Manhattan and Penn Station.
- Strong Rental Income Potential: A legal 7‑unit multifamily building with consistent tenant demand.
- Turnkey Investment: Meticulously maintained and thoughtfully renovated, offering low maintenance requirements.
- New Roof: Completed in Summer 2025.
- 7 Legal Apartments: Includes six 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit.
Overview
Turnkey opportunity: a well-maintained brick multifamily building containing 7 legal apartments, with 6 two-bedroom/one-bath units and 1 one-bedroom/one-bath unit. The property is presented in excellent condition with renovations completed over the years, and a brand-new roof finished in summer 2025. Total building area is listed at 3,540 square feet, and the property is zoned 100 (details to be independently verified).
Located in Astoria, Queens, the address is 31-49 33 Street, between 31st Avenue and Broadway. The Broadway subway station (N/W lines) is approximately two blocks away, providing direct service to Midtown Manhattan and Penn Station in approximately 30 minutes. The surrounding area includes restaurants, cafés, bakeries, laundromats, and everyday conveniences.
For buyers or owner-users, this is a straightforward, legal 7-unit setup designed for ongoing operations, with a confirmed unit mix and recent roof replacement that supports long-term building management. The property’s location near transit and dense neighborhood amenities provides practical day-to-day convenience for residents, while the current condition and turnkey presentation can help streamline the transition into ownership.
Located in Astoria, Queens, the address is 31-49 33 Street, between 31st Avenue and Broadway. The Broadway subway station (N/W lines) is approximately two blocks away, providing direct service to Midtown Manhattan and Penn Station in approximately 30 minutes. The surrounding area includes restaurants, cafés, bakeries, laundromats, and everyday conveniences.
For buyers or owner-users, this is a straightforward, legal 7-unit setup designed for ongoing operations, with a confirmed unit mix and recent roof replacement that supports long-term building management. The property’s location near transit and dense neighborhood amenities provides practical day-to-day convenience for residents, while the current condition and turnkey presentation can help streamline the transition into ownership.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $163.5k | $46.20 |
| − Vacancy | −$6.2k | −$1.76 |
| EGI | $157.3k | $44.44 |
| − OpEx | −$70.8k | −$20.00 |
| NOI | $86.5k | $24.44 |
3,540 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,533 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,681 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Astoria
- County
- Queens
- State
- New York
- Longitude
- -73.922629
- Latitude
- 40.762278
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Turnkey, well-maintained brick multifamily with seven legal apartments and a brand-new roof completed summer 2025.
Where is this apartment building located?
The property is located at 31-49 33 street Astoria, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Prime Astoria Location: Close to restaurants, cafes and conveniences.; Excellent Commuter Access: Just 2 blocks to the Broadway subway station (N/W lines) for direct access to Midtown Manhattan and Penn Station.; Strong Rental Income Potential: A legal 7‑unit multifamily building with consistent tenant demand.
