Astoria Multifamily Investment
For Sale
$5,000,000
3552 Steinway St, Queens, NY 11101
20-unit rent-stabilized building in prime Astoria location.
Days on Market99
Property Features for 3552 Steinway St
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1912
Listing Agency:
(917) 651-8946
Listed By:
Sheetal Suryawanshi
(917) 651-8946
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 30 at 1:17PM
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 Sheetal Suryawanshi
Investment Insights
Based on property information with market context.
This is a 20-unit rent-stabilized multifamily building situated on Steinway Street in Astoria, Queens. The property features 20 residential units, including 15 two-bedroom apartments and 5 additional units. The building is located in the heart of Astoria, benefiting from access to retail, restaurants, and neighborhood amenities. The location provides convenient access to public transportation and a short commute to Midtown Manhattan. The property is located along the Steinway Street corridor. The area attracts steady renter demand, making it a resilient multifamily submarket. The bike score is 80, indicating it is very bikeable. The walk score is 97, designating it as a walker's paradise. The transit score is 99, marking it as a rider's paradise. The gross scheduled income is $404,040, with operating expenses of $144,500, resulting in a net operating income of $259,540. The gross rent multiplier is 13.61. The price per unit is $275,000.
Key Highlights
- Prime location on Steinway Street in Astoria, a high‑demand rental market
- 20‑unit rent‑stabilized building providing stable cash flow
- Strong in‑place income with a 5.19% Cap Rate and $259,540 Net Operating Income
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,166
Businesses Nearby
Explore this area
Business Placement
Demographics for 11101, NY
48,867
Population
27,093
Households
1.8
Avg Household Size
33
Median Age
65%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
18,795
Density / Sq Mi
$116,807
Median Household Income
$83,892
Median Earnings
$2,740
Median Rent
$995,500
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?
Apartment building - 20-unit rent-stabilized building in prime Astoria location.
Where is this apartment building located?
The property is located at 3552 Steinway St Queens, NY.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Prime location on Steinway Street in Astoria, a high‑demand rental market; 20‑unit rent‑stabilized building providing stable cash flow; Strong in‑place income with a 5.19% Cap Rate and $259,540 Net Operating Income
