Semi-Attached Brick Two-Family
For Sale
$1,740,000
Pending
32-69 38th St, Queens, NY 11103
A 2-family brick home with separate systems and updates, offering contractor-friendly potential in Astoria.
Property Size2,902 SF
Lot Size0.06 Acres
Days on Market148
Property Features for 32-69 38th St
General Information
Standard status
Pending
Size
2,902 SF
Total Parking Spaces
1
Lot size
0.06 Acres
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,000
Building Details
Building Size
2,902 SF
Year Built
1960
Units
2
Tenancy
Multi
Listing Agency:
Folan Real Estate Group
Listed By:
Maureen Ramsbottom
(718) 767-8200
Source:
Elliman
Added: Jun 3
Changed: Oct 25
Last Checked: Oct 26 at 6:30PM
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 Folan Real Estate Group
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Investment Insights
Based on property information with market context.
This semi-attached brick two-family home is set on a 25x100 lot and is configured as two residential units. Together, the property offers five bedrooms and three full bathrooms, with each unit including a living room, kitchen, two bedrooms, and one full bath. In addition, there is a ground-level living room and bathroom, providing flexible layout options within the overall building. Major capital improvements include a newer roof and an approximately 8-year-old boiler. The home is heated by gas, and hot water is handled via separate hot water heaters, complemented by a 1-car garage.
The property is situated in Astoria with convenient access to the N/W trains, Ditmars Boulevard, and Astoria Park. Walk, bike, and transit scores indicate an extremely walkable and transit-accessible setting, supporting day-to-day connectivity for residents.
For investors and contractors, the home’s current configuration and existing improvements can serve as a practical foundation for updating and modernization. With distinct unit layouts and separate hot water systems, it may be well-suited for buyers seeking a straightforward two-family setup with clear separation between living areas.
The property is situated in Astoria with convenient access to the N/W trains, Ditmars Boulevard, and Astoria Park. Walk, bike, and transit scores indicate an extremely walkable and transit-accessible setting, supporting day-to-day connectivity for residents.
For investors and contractors, the home’s current configuration and existing improvements can serve as a practical foundation for updating and modernization. With distinct unit layouts and separate hot water systems, it may be well-suited for buyers seeking a straightforward two-family setup with clear separation between living areas.
Key Highlights
- Semi‑attached brick 2‑family home built in 1960 on a 25x100 lot in Astoria
- Total layout includes 5 bedrooms and 3 full baths across two residential units
- Each unit offers a living room, kitchen, 2 bedrooms, and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,938
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,418,760
$1.4M
Cap Rate 7%
$1,013,400
$1.0M
Cap Rate 9%
$788,200
$788.2K
Market Conditions
NOI Build-Up for 2,902 SF
Gross rent
$134.1K $46.20/SF
− Vacancy
−$5.1K −$1.76/SF
EGI
$129.0K $44.44/SF
− OpEx
−$58.0K −$20.00/SF
NOI
$70.9K $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%
$1,418,760
Cap Rate 7%
$1,013,400
Cap Rate 9%
$788,200
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$886.7K – $1.18M
NOI $70,938 @ 7.0% cap · market cap 4.08%
Second Best
Multifamily LT 5
$686.2K
$600.4K – $800.6K
NOI $48,033 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$2.14M
$1.87M – $2.50M
NOI $149,757 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,539
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?
Duplex - A 2-family brick home with separate systems and updates, offering contractor-friendly potential in Astoria.
Where is this duplex located?
The property is located at 32-69 38th St Queens, NY.
What is the asking price?
The asking price for this property is $1,740,000.
What are key features of this property?
This property features: Semi‑attached brick 2‑family home built in 1960 on a 25x100 lot in Astoria; Total layout includes 5 bedrooms and 3 full baths across two residential units; Each unit offers a living room, kitchen, 2 bedrooms, and 1 full bath
