49-09 31St Ave Queens, NY 11377

Property Details for 49-09 31St Ave

Year built

1975

Property size

3,100 SF

Property type

Apartment buildings

Description

This exceptional Class A, three-unit apartment building presents a compelling investment opportunity in the desirable Astoria, Queens neighborhood, bordering Woodside. Built in 1975 and extensively renovated in 2019, this property boasts 3,100 square feet of net rentable space across three stories, situated on a 2,000 square foot lot. The building features three spacious apartments; one large one-bedroom unit on the first floor with a one-car garage, and two identical three-bedroom, one-and-a-half-bathroom units on the second and third floors, each with a balcony, open kitchen, and large living area. A full, semi-finished basement offers high ceilings and ample open space with backyard access. Recent upgrades include a new roof (approximately one year old with warranty), a modern heating system, separate water heaters, a gas boiler, and individual electrical meters for each unit. The property is zoned R5, reflecting its potential for future development or expansion. Offered at $1,949,000, this represents a price per square foot of $628.71 and a price per unit of $649,666.67. This meticulously maintained building offers strong rental income potential and is a must-see for discerning investors seeking a high-return property in a prime location.