41-12 28Th Ave Queens, NY 11103

Property Details for 41-12 28Th Ave

Year built

1974

Property size

4,460 SF

Property type

Apartment buildings

Description

This exceptional three-unit apartment building presents a compelling investment opportunity in the desirable Astoria neighborhood of Queens, New York. Located just one block from 30th Avenue and Steinway Street, this property boasts a prime location with excellent accessibility. The building, constructed in 1974 and extensively renovated in 2019, comprises 4,460 square feet across three stories, offering a total of three apartments. The building features a fully finished basement with backyard access, providing additional storage or potential expansion opportunities. The first floor unit is a two-bedroom apartment with a modern bathroom, an open-concept kitchen and living area, stainless steel appliances, and hardwood floors. The second and third floors each offer three-bedroom apartments, each with two full bathrooms and a spacious balcony. All units are currently leased under a one-year lease, generating a gross annual income of $108,000 and a net operating income (NOI) of $86,593, representing a 4.34% cap rate. The property also includes two parking spaces and a garage, a rare find in this area. The building is well-maintained, with updated plumbing and electrical systems, and features a gas boiler for efficient heating. This meticulously maintained property, zoned R5, sits on a 2,002 square foot lot and offers a price per unit of $665,000 and a price per square foot of $447.31. This is a turnkey investment opportunity with strong rental income and significant potential for future appreciation.