6-Unit Apartment
For Sale
$1,240,000
Pending
31-72 44th Street, Astoria, NY 11103
The rent-stabilized property includes six two-bedroom apartments, a basement with laundry and storage, and a private rear yard.
Property Size4,458 SF
Days on Market12
Property Features for 31-72 44th Street
General Information
Standard status
Pending
Size
4,458 SF
Zoning
R5
Units
Unit Mix
6 x 2BR
Multifamily Units
6
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$18,568
Amenities
full basement
laundry
private rear yard
Full,Partially Finished,Storage Space,Walk-Out Access
Hardwood,Linoleum
3
Yes
Full, Partially Finished, Storage Space, Walk-Out Access
Back Yard,Front Yard
Public
No
Open
Block,Brick/Mortar,Concrete Perimeter
Municipal
4458
Public Maintained Road
Building Details
Building Size
4,458 SF
Year Built
1928
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
(516) 703-2918
Listed By:
Craig May
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 31
Last Checked: Oct 31 at 4:18AM
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 Craig May
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Investment Insights
Based on property information with market context.
This 1928 apartment building contains six two-bedroom units, all rent stabilized. Four apartments are occupied, while the two adjoining top-floor units are vacant. The building measures 4,458 square feet, with a 25-by-66-foot footprint on a 25-by-100-foot lot, and is zoned R5.
A full, partially finished basement provides storage and laundry facilities, with walk-out access. The property also has a private rear yard. It is located in Astoria, near dining, shopping, parks, and transportation options.
A full, partially finished basement provides storage and laundry facilities, with walk-out access. The property also has a private rear yard. It is located in Astoria, near dining, shopping, parks, and transportation options.
Key Highlights
- Six rent‑stabilized two‑bedroom apartments
- Four units occupied; two adjoining top‑floor apartments vacant
- 4,458‑square‑foot building on a 25‑by‑100‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,973
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,179,460
$2.2M
Cap Rate 7%
$1,556,757
$1.6M
Cap Rate 9%
$1,210,811
$1.2M
Market Conditions
NOI Build-Up for 4,458 SF
Gross rent
$206.0K $46.20/SF
− Vacancy
−$7.8K −$1.76/SF
EGI
$198.1K $44.44/SF
− OpEx
−$89.2K −$20.00/SF
NOI
$109.0K $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 Rate 5%
$2,179,460
Cap Rate 7%
$1,556,757
Cap Rate 9%
$1,210,811
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.36M – $1.82M
NOI $108,973 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.83M
NOI $230,054 @ 7.0% cap · market cap 18.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,376
Businesses Nearby
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Business Placement
Demographics for 11103, NY
37,362
Population
18,833
Households
2
Avg Household Size
36
Median Age
52%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
53,374
Density / Sq Mi
$92,787
Median Household Income
$59,050
Median Earnings
$2,120
Median Rent
$1,003,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The rent-stabilized property includes six two-bedroom apartments, a basement with laundry and storage, and a private rear yard.
Where is this apartment building located?
The property is located at 31-72 44th Street Astoria, NY.
What is the asking price?
The asking price for this property is $1,240,000.
What are key features of this property?
This property features: Six rent‑stabilized two‑bedroom apartments; Four units occupied; two adjoining top‑floor apartments vacant; 4,458‑square‑foot building on a 25‑by‑100‑foot lot
