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    24-14 21St St Queens, NY 11102

    Sponsored
    For Sale
    $3,399,000

    Prime Astoria location, 9-unit apartment building.

    Property size:
    6,580 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This exceptional 9-unit apartment building presents a compelling investment opportunity in the desirable Astoria Park neighborhood of Queens, New York. The property, located at 24-14 21st St, boasts a substantial 7,499 square foot lot (approximately 50x150 feet) and a total building area of 6,580 square feet. Built in 1931 and extensively renovated in 2017, this Class A multifamily property offers a blend of classic charm and modern updates. The building comprises eight 2-bedroom units and one 1-bedroom unit, currently operating at 100% occupancy. Ample parking is provided with 5 garages and an additional 10 parking spaces. A full basement adds further utility. The property features a new roof and a gas boiler, along with a separate 100-gallon water heater. The building's strong financial performance is highlighted by a Net Operating Income (NOI) of $123,642, derived from a gross annual income of $185,588 and total yearly expenses of $61,946. The property is zoned R5B, offering 3,500 square feet of unused floor area ratio (FAR), presenting potential for future expansion or development. This stabilized investment is offered at $3,399,000 and is suitable for a 1031 exchange.

    Property Features for 24-14 21St St

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,580 SF
    Class
    A

    Building Details

    Year Built/Renovated
    1931/2017
    Buildings
    1
    Stories
    4
    Units
    9

    HighLights

    • $3,399,000 asking price for a stabilized Class A multifamily investment.
    • Nine‑unit apartment building in prime Astoria Park, Queens, NY.
    • 6,580 square feet, 100% occupancy, with a Net Operating Income (NOI) of $123,642.
    • Eight 2‑bedroom units and one 1‑bedroom unit.
    • Ten parking spaces (five garages plus additional spaces).
    • Full basement, new roof, gas boiler, and separate 100‑gallon water heater.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.9221354
    Latitude
    40.7763984

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    FAQs

    What type of property is this?
    Multifamily property - Prime Astoria location, 9-unit apartment building.
    Where is this multifamily property located?
    The property is located at 24-14 21St St Queens, NY.
    What is the asking price?
    The asking price for this property is $3,399,000.
    What are key features of this property?
    This property features: $3,399,000 asking price for a stabilized Class A multifamily investment.; Nine-unit apartment building in prime Astoria Park, Queens, NY.; 6,580 square feet, 100% occupancy, with a Net Operating Income (NOI) of $123,642.
    Request Owner's contact information
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    Queens, NY 11102
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    24-14 21St St Queens, NY 11102
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