Multifamily Apartment Building

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SALE$1,985,000 | 23-12 30th Rd., Astoria, NY 11102

This Incredible Site in the Highly Sought-after Location of Astoria is the Perfect Opportunity for Savvy Investors Looking to Expand Their Portfolio. With Four Existing Units, Each With Their Own Boilers and Hot Water Heaters, This Site is Already Generating Revenue. However, the Real Value Lies in the Potential to Add Additional Floors, Creating Up to 10 Apartments With Parking in the Rear .the Existing Masonry and Semi-detached Structure on a 25×143 Lot Means That the Buyer Will Save a Significant Amount of Money on Excavation, New Foundations, and Shoring, Resulting in a Much Quicker and More Cost-effective Building Process. Not Only That, but Since the Project Falls Under the Category of an Alteration 1 Instead of a New Building Filing, the Approval Time for Plans Will Be Much Quicker, and the Architect Fees Will Be Significantly Cheaper. Additionally, the Buyer Will Benefit From Lower Real Estate Taxes, as They Won’t Be Taxed on a New Building. This Location is Highly Desirable, With Rents Commanding Premium Prices Regardless of Economic Situations. There is Even a Waiting List in a Nearby Building Finished Just Last Year, and Tenants Are Eager to Rent in This Location Due to Its Proximity to Mount Sinai Hospital on Crescent Street and 30th Ave. Doctors and Nurses, in Particular, Will Find This Location Highly Appealing. This Site is a Rare Gem in the Astoria Market That Won’t Be on the Market for Long. Don’t Miss Your Chance to Capitalize on This Fantastic Investment Opportunity!

Property Features

  • Property Type: Multifamly
  • Investment Type: Value Add
  • Square Footage: 3,400
  • Stories: 2
  • Lot Size (sq ft): 3,557
  • Subtype: Apartment Building
  • Class: C
  • Units: 4
  • Zoning: R6B

 

All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Courtesy of Prime Realty.

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