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    22-09 48Th St Queens, NY 11105

    Sponsored
    For Sale
    $1,560,000

    Luxury 2-unit building, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional Class A, two-unit apartment building presents a compelling investment opportunity in the highly desirable Astoria, Queens neighborhood. Located at 22-09 48th Street, this meticulously maintained property boasts a total of 1,880 square feet of net rentable space, situated on a 2,241 square foot lot. Built in 1960 and extensively renovated in 2020, the building is in move-in condition. The property features two apartments: a two-bedroom, 1.5-bathroom unit on the first floor with a modern open-concept kitchen and spacious rooms; and a three-bedroom, 1.5-bathroom unit on the upper floor, showcasing an open layout, large windows, stainless steel appliances, granite countertops, and abundant cabinet space. A fully finished basement provides additional space, a separate entrance, and parking for two cars, complemented by a detached garage. The property is zoned R4, offering potential for future development or expansion. With an asking price of $1,560,000, this represents a strong value proposition at $780,000 per unit in this prime location. This is a rare opportunity to acquire a turnkey investment property in a thriving market. The building's recent renovations, desirable features, and prime location make it an ideal investment for both seasoned and first-time investors seeking a high-return, low-maintenance property.

    Property Features for 22-09 48Th St

    General Information

    Property type
    Multifamily properties
    Class
    A

    Building Details

    Year Built/Renovated
    1960/2020
    Buildings
    1
    Stories
    2
    Units
    2

    HighLights

    • $1,560,000 asking price for this Class A, Core investment opportunity.
    • Astoria, Queens, NY multifamily property located at 22‑09 48th St, zip code 11105.
    • Two‑unit apartment building, totaling 1,880 square feet of net rentable space, built in 1960 and renovated in 2020.
    • Features a two‑bedroom, 1.5‑bathroom unit and a three‑bedroom, 1.5‑bathroom unit, both with modern kitchens and open floor plans.
    • Includes a finished basement with a separate entrance, detached garage, and parking for two cars.
    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
    -73.9012037
    Latitude
    40.7689197

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    FAQs

    What type of property is this?
    Multifamily property - Luxury 2-unit building, prime location.
    Where is this multifamily property located?
    The property is located at 22-09 48Th St Queens, NY.
    What is the asking price?
    The asking price for this property is $1,560,000.
    What are key features of this property?
    This property features: $1,560,000 asking price for this Class A, Core investment opportunity.; Astoria, Queens, NY multifamily property located at 22-09 48th St, zip code 11105.; Two-unit apartment building, totaling 1,880 square feet of net rentable space, built in 1960 and renovated in 2020.
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    Queens, NY 11105
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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
    22-09 48Th St Queens, NY 11105
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