24-14 21St St Queens, NY 11102
- Apartment buildings
- 6,580 SF
Current Use by Public Records
- Apartment buildings
Property Details for 24-14 21St St
- Year built
- 1931
- Property size
- 6,580 SF
- Property type
- Apartment buildings
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.9221
- Latitude
- 40.7764
