30-22 44Th St Queens, NY 11103
- Apartment buildings
- 5,262 SF
Current Use by Public Records
- Apartment buildings
Property Details for 30-22 44Th St
- Year built
- 1928
- Property size
- 5,262 SF
- Property type
- Apartment buildings
Description
This exceptional three-story, six-unit apartment building presents a compelling investment opportunity in the vibrant Astoria, Queens neighborhood. Boasting 5,262 square feet on a 5,262 square foot lot (Block 697, Lot 274), this Class A property, built in 1928 and renovated in 1990, currently enjoys 100% occupancy. The building generates a substantial annual gross income of $126,000, with annual expenses totaling $41,945, resulting in a strong net operating income (NOI) of $84,000 and a 6.0% capitalization rate. All six units feature updated plumbing and electrical systems, including individual circuit breaker boxes. The property benefits from its prime location near shops, restaurants, and mass transit, with easy access to Steinway Street and a short commute to Manhattan. This stabilized investment is offered for $1,400,000 ($233,333 per unit and $266.06 per square foot). The property is subject to a ground lease expiring between 2025 and 2026. This is a rare chance to acquire a high-performing multifamily asset in a highly desirable location.
Value Estimations
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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
- -73.9123
- Latitude
- 40.7618
