23-15 Astoria Blvd Queens, NY 11102
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 23-15 Astoria Blvd
- Year built
- 2013
- Property type
- Apartment buildings
Description
This exceptional seven-story, 37-unit apartment building, constructed in 2013, presents a compelling investment opportunity in the vibrant Astoria neighborhood of Queens, New York. Boasting a 5.13% cap rate and a strong net operating income (NOI) of $1,205,267, this property offers significant potential for cash flow. Situated on a 10,276 square foot lot, the building features a desirable mix of amenities including a large rooftop deck with stunning Manhattan skyline views, on-site laundry facilities, and parking. Each of the 37 one-bedroom units includes a private terrace or balcony, enhancing their appeal to renters. The modern, open-concept interiors feature hardwood floors, sleek kitchens with stainless steel appliances, and ample closet space. The building benefits from a 15-year tax abatement, projected to expire in 2031. Its prime location provides easy access to public transportation (N/W trains), Astoria Park, and a wealth of local shops and restaurants. The property is zoned R6A, R5B, and C1-3, offering flexibility for future development or operational strategies. This is a rare opportunity to acquire a high-performing multifamily asset in a rapidly appreciating market. The asking price is $23,500,000.
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
- -73.9238
- Latitude
- 40.7716
