38-Unit Rent-Stabilized Apartment
94-20 Astoria Boulevard East Elmhurst, NY 11369
94-20 Astoria Boulevard, East Elmhurst, NY, 11369
Contact for pricing
For Sale
Contact for pricing
Detached multifamily building with 38 rent-stabilized studios and 12 income-producing parking spaces, plus unused FAR.
Property Size13,114 SF
Price / SF$419.40
Days on Market45
Property Features for 94-20 Astoria Boulevard
General Information
- Standard status
- Active
- Size
- 13,114 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1963
Listing agency
Carmela Homes Corp.
Listed by
Carmela Vlacich · License #NY 4OVL0647854
Source
Crexi
Added: Jun 8 Updated: Jul 21 at 2:48PM Checked: Jul 21 at 2:48PM
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 Carmela Homes Corp.
Investment Insights
Based on property information with market context.
This detached multifamily property contains 38 rent-stabilized studio apartments. The asset also includes 12 income-producing parking spaces and offers approximately 9,000+ square feet of unused FAR, with zoning identified as R6B / C1-3.
The property is located at 94-20 Astoria Boulevard in East Elmhurst, New York. The public remarks cite proximity to the Willets Point redevelopment area and note service by bus lines Q19, Q49, Q72, and Q47.
As a 38-unit residential income building, it provides an operational configuration centered on studio apartments and parking, alongside redevelopment-related floor area opportunities referenced in the listing materials.
The property is located at 94-20 Astoria Boulevard in East Elmhurst, New York. The public remarks cite proximity to the Willets Point redevelopment area and note service by bus lines Q19, Q49, Q72, and Q47.
As a 38-unit residential income building, it provides an operational configuration centered on studio apartments and parking, alongside redevelopment-related floor area opportunities referenced in the listing materials.
Key Highlights
- Detached multifamily building built in 1963 featuring 38 rent‑stabilized studio apartments
- Includes 12 income‑producing parking spaces
- Zoned R6B / C1‑3 with approximately 9,000+ SF of unused FAR
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 | $605.9k | $46.20 |
| − Vacancy | −$23.0k | −$1.76 |
| EGI | $582.8k | $44.44 |
| − OpEx | −$262.3k | −$20.00 |
| NOI | $320.6k | $24.44 |
13,114 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.58M
$4.01M – $5.34M
NOI $320,564 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.67M
$8.46M – $11.28M
NOI $676,745 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Detached multifamily building with 38 rent-stabilized studios and 12 income-producing parking spaces, plus unused FAR.
Where is this apartment building located?
The property is located at 94-20 Astoria Boulevard East Elmhurst, NY.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Detached multifamily building built in 1963 featuring 38 rent‑stabilized studio apartments; Includes 12 income‑producing parking spaces; Zoned R6B / C1‑3 with approximately 9,000+ SF of unused FAR
