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$ 5,500,000
Est. payment /mo
Active
94-20 Astoria BLVD East Elmhurst, NY 11369
8,446 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1000537
Rental Info No
Year Built 1963
Annual Tax Amount $120,000
Lot Size 8,446 Sqft
Acres 0.1939
Property Sub-Type Multi Family
Source onekey2
Property Description
Investor Opportunity in the Path of Willets Point Redevelopment
38-Unit Multifamily Asset | Strong In-Place Cash Flow | 6% Cap Rate
R6B / C1-3 Zoning - 9,000 square feet of unused FAR
- 38 rent-stabilized studio apartments
- 12 income-producing parking spaces
- 6% Cap Rate
- Approximately 9,000+ SF of unused FAR
- Detached building with operational flexibility
- Positioned to benefit from the multibillion-dollar Willets Point redevelopment
- Rare combination of current yield and future upside
Positioned just minutes from the multibillion-dollar Willets Point redevelopment, this property offers investors a rare combination of stable cash flow and long-term upside. Located on Astoria Boulevard, the asset benefits from its proximity to the future soccer stadium, hotel, retail, and mixed-use developments that are transforming the area.
Location Highlights
- Minutes from the Willets Point redevelopment district
- Convenient access to LaGuardia Airport
- Served by the Q19, Q49, Q72, and Q47 bus lines
- Minutes to the Grand Central Parkway, Long Island Expressway and Cross Island Parkway
- A unique opportunity to acquire a cash-flowing multifamily asset with significant appreciation and development potential in one of Queens' fastest-growing corridors, just minutes away from the most exciting thing to happen in Queens since the World's Fair.
38-Unit Multifamily Asset | Strong In-Place Cash Flow | 6% Cap Rate
R6B / C1-3 Zoning - 9,000 square feet of unused FAR
- 38 rent-stabilized studio apartments
- 12 income-producing parking spaces
- 6% Cap Rate
- Approximately 9,000+ SF of unused FAR
- Detached building with operational flexibility
- Positioned to benefit from the multibillion-dollar Willets Point redevelopment
- Rare combination of current yield and future upside
Positioned just minutes from the multibillion-dollar Willets Point redevelopment, this property offers investors a rare combination of stable cash flow and long-term upside. Located on Astoria Boulevard, the asset benefits from its proximity to the future soccer stadium, hotel, retail, and mixed-use developments that are transforming the area.
Location Highlights
- Minutes from the Willets Point redevelopment district
- Convenient access to LaGuardia Airport
- Served by the Q19, Q49, Q72, and Q47 bus lines
- Minutes to the Grand Central Parkway, Long Island Expressway and Cross Island Parkway
- A unique opportunity to acquire a cash-flowing multifamily asset with significant appreciation and development potential in one of Queens' fastest-growing corridors, just minutes away from the most exciting thing to happen in Queens since the World's Fair.
Location
State NY
County Queens
Rooms
Basement Partial, Unfinished
Interior
Heating Natural Gas
Cooling None
Fireplace No
Exterior
Parking Features Alley Access
Utilities Available Electricity Available, Sewer Available, Water Available
Total Parking Spaces 12
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools East Elmhurst Community School
Middle Schools Is 145 Joseph Pulitzer
High Schools Queens24
School District Queens24
Others
Special Listing Condition None
Listed by Carmela Homes Corp • Carmela Vlacich
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