Two-Family Duplex with Outdoor
40-09 23rd Avenue, Astoria, NY 11105
For Sale
$1,199,000
Pending
Two renovated two-bedroom residences offer separate outdoor areas and active short-term rental use.
Property Size1,530 SF
Days on Market10
Property Features for 40-09 23rd Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Currently Operating
Taxes and HOA fees
Annual Taxes
Amenities
Finished
Hardwood
3
Yes
4
Double Pane Windows
First Floor Bedroom,First Floor Full Bath,Eat-in Kitchen,Entrance Foyer,High Speed Internet,Kitchen Island,Open Floorplan,Open Kitchen,Quartz/Quartzite Counters,Recessed Lighting,Walk-In Closet(s)
First Floor Bedroom,First Floor Full Bath,Eat-in Kitchen,Entrance Foyer,High Speed Internet,Kitchen Island,Open Floorplan,Open Kitchen,Quartz/Quartzite Counters,Recessed Lighting,Walk-In Closet(s),Wa
No
Back Yard,Fenced,Front Yard,Vinyl
Public
Balcony,Mailbox
1530
Building Details
Building Size
Year Built
Listing Agency:
Shabbir Realty Inc
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 31
Changed: Nov 7
Last Checked: Nov 8 at 9:31PM
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 Shabbir Realty Inc
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Investment Insights
Based on property information with market context.
This 1,530-square-foot legal two-family property, built in 1880, contains two renovated two-bedroom apartments. The first-floor residence has front and rear patios; the upper apartment includes a front balcony and private rear terrace. A finished basement with a half bath adds further interior space. Both apartments are currently used for short-term rentals, and the property is in active operation with guests in residence.
The property is near Steinway and Ditmars dining, shopping, and nightlife, with major transit options nearby. Manhattan is two subway stops away. The apartments feature quartz counters, premium appliances, hardwood flooring, and bright living areas.
The property is near Steinway and Ditmars dining, shopping, and nightlife, with major transit options nearby. Manhattan is two subway stops away. The apartments feature quartz counters, premium appliances, hardwood flooring, and bright living areas.
Key Highlights
- Two legal residential units, each with two bedrooms
- 1,530 square feet; built in 1880
- First‑floor apartment has front and rear patios
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,807
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$756,140
$756.1K
Cap Rate 7%
$540,100
$540.1K
Cap Rate 9%
$420,078
$420.1K
Market Conditions
NOI Build-Up for 1,530 SF
Gross rent
$58.8K $38.40/SF
− Vacancy
−$4.7K −$3.10/SF
EGI
$54.0K $35.30/SF
− OpEx
−$16.2K −$10.59/SF
NOI
$37.8K $24.71/SF
Area
Queens County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$756,140
Cap Rate 7%
$540,100
Cap Rate 9%
$420,078
Alternative Uses
Best Use
Multifamily LT 5
$540.1K
$472.6K – $630.1K
NOI $37,807 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$534.3K
$467.5K – $623.3K
NOI $37,400 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.13M
$986.9K – $1.32M
NOI $78,955 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 11105, NY
38,001
Population
17,518
Households
2.2
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
1.6 sq mi
ZIP Area
23,751
Density / Sq Mi
$100,306
Median Household Income
$62,464
Median Earnings
$2,211
Median Rent
$1,089,000
Median Home Value
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Market
Properties on Market for Duplexes in Astoria
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two renovated two-bedroom residences offer separate outdoor areas and active short-term rental use.
Where is this duplex located?
The property is located at 40-09 23rd Avenue Astoria, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two legal residential units, each with two bedrooms; 1,530 square feet; built in 1880; First‑floor apartment has front and rear patios
