Fully Occupied Six-Unit
34-32 33rd Street Astoria, NY 11106
34-32 33rd Street, Astoria, NY, 11106
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For Sale
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Six-unit building with rent-stabilized and free-market apartments, including washer-dryer amenities in three units.
Property Size4,560 SF
Price / SF$482.46
Days on Market43
Property Features for 34-32 33rd Street
General Information
- Standard status
- Active
- Size
- 4,560 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1926
Listing agency
Marcus & Millichap - Manhattan
Listed by
Sean Fopeano · License #10401348819
Source
Crexi
Added: Jun 9 Updated: Jul 10 at 2:01PM Checked: Jul 20 at 5:17AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
This fully occupied six-unit multifamily building offers a mix of rent-stabilized and free-market units. Three of the apartments include washer-dryer amenities, providing in-unit convenience for residents. The property is sited on a 2,500 square foot lot and is governed by R5 zoning with a 1.5 FAR.
Located in Astoria, Queens, the building is presented as a turnkey rental asset with existing income streams. The current financing profile referenced in the remarks shows a 6.5% current cap rate, with pro forma upside targeting a 6.7% cap rate.
For buyers seeking residential income in a small, manageable footprint, this asset combines stabilized and market-rate components within the same building. In-unit washer-dryer availability across half of the units may support tenant satisfaction and day-to-day livability. With occupancy already in place at the time of sale, the building is structured for an operator or investor looking to assume operations with the existing tenant base.
Located in Astoria, Queens, the building is presented as a turnkey rental asset with existing income streams. The current financing profile referenced in the remarks shows a 6.5% current cap rate, with pro forma upside targeting a 6.7% cap rate.
For buyers seeking residential income in a small, manageable footprint, this asset combines stabilized and market-rate components within the same building. In-unit washer-dryer availability across half of the units may support tenant satisfaction and day-to-day livability. With occupancy already in place at the time of sale, the building is structured for an operator or investor looking to assume operations with the existing tenant base.
Key Highlights
- Fully occupied six‑unit multifamily building in Astoria, Queens, NY
- Unit mix includes rent‑stabilized and free‑market apartments
- Washer/dryer amenities available in three of the six units
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 | $210.7k | $46.20 |
| − Vacancy | −$8.0k | −$1.76 |
| EGI | $202.7k | $44.44 |
| − OpEx | −$91.2k | −$20.00 |
| NOI | $111.5k | $24.44 |
4,560 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.86M
NOI $111,467 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.36M
$2.94M – $3.92M
NOI $235,318 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Synergy Elite Contractors
General Contractor
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Six-unit building with rent-stabilized and free-market apartments, including washer-dryer amenities in three units.
Where is this apartment building located?
The property is located at 34-32 33rd Street Astoria, NY.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Fully occupied six‑unit multifamily building in Astoria, Queens, NY; Unit mix includes rent‑stabilized and free‑market apartments; Washer/dryer amenities available in three of the six units
