2219 Steinway St Long Island City, NY 11105-1866
This exceptional six-unit multi-family property is situated in the desirable Ditmars and Steinway area of Astoria, New York. The building boasts a total of 4,500 square feet and sits on a 0.06-acre lot. The property features four two-bedroom, one-bathroom units, strategically arranged with two units per floor. A single one-bedroom unit is located on the first floor, offering a diverse rental mix. Recent renovations have significantly enhanced the property's value and appeal. These improvements include a brand new roof, a completely replaced boiler and hot water heater, ensuring efficient and reliable operation. Furthermore, the installation of new gas meters and individual gas lines for each unit provides tenants with independent utility control and reduces operational complexities. The third-floor unit has been recently updated with fresh paint and modern enhancements, showcasing a commitment to maintaining high-quality living spaces. This property presents a compelling investment opportunity, ideally positioned within easy reach of public transportation, parks, shopping centers, and schools. The combination of its prime location, recent upgrades, and strong rental potential makes this a highly attractive investment in the thriving Astoria real estate market. The asking price is $1,700,000.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
R5D · Long Island City, NYLong Island City. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.