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$2,995,000
Est. payment /mo
22 Beds
13 Baths
1,197 Sqft Lot
UPDATED:
Key Details
Property Type Multi Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 973671
Bedrooms 22
Full Baths 13
Rental Info No
Year Built 1920
Annual Tax Amount $12,504
Lot Size 1,197 Sqft
Acres 0.0275
Property Sub-Type Triplex
Source onekey2
Property Description
PACKAGE DEAL! One Vacant 3 Family, and one Leased 3 Family Grossing over 100k!
Highlights:
-Two adjacent 3 family buildings (6 total units)
-Large apartments (1,000+ SF) with 1.5 bathrooms (Four 4 Bedrooms & Two 3 Bedrooms)
-Full basements in both buildings
-One fully vacant building – immediate upside
-One income-producing building ($105K+ gross)
-Rear parking (4-5 spaces)
-Rapidly developing location
-Walking distance to ferry (Manhattan access)
-Close to Costco and major retail
Exceptional opportunity to acquire two adjacent 3 family buildings offered as a package in a rapidly developing pocket of Astoria. This unique offering provides both strong in place income and significant upside, with multiple investment paths available, ideal for investors seeking flexibility, scalability, and long term growth.
Located in a fast growing section of Astoria, the property is within walking distance to the NYC Ferry for convenient Manhattan access and in close proximity to Costco and major retail, further strengthening long term rental demand.
This offering stands out for its flexibility and ability to cater to multiple investment strategies. Investors can pursue a long term hold by increasing rents to market levels & creating strong cash flow and future refinance potential.
For those seeking a hybrid approach, the asset allows for the option to renovate and sell the vacant property while retaining the income producing building for long term cash flow, effectively reducing basis while maintaining upside. More experienced investors may also explore repositioning strategies, including selling the properties individually after improvements or other value maximizing approaches.
With one cash flowing asset and one vacant building, this package naturally reduces risk while preserving upside. The rare combination of immediate income, renovation potential, and multiple exit strategies makes this a highly attractive opportunity in one of Queens' most active and evolving rental markets.
Highlights:
-Two adjacent 3 family buildings (6 total units)
-Large apartments (1,000+ SF) with 1.5 bathrooms (Four 4 Bedrooms & Two 3 Bedrooms)
-Full basements in both buildings
-One fully vacant building – immediate upside
-One income-producing building ($105K+ gross)
-Rear parking (4-5 spaces)
-Rapidly developing location
-Walking distance to ferry (Manhattan access)
-Close to Costco and major retail
Exceptional opportunity to acquire two adjacent 3 family buildings offered as a package in a rapidly developing pocket of Astoria. This unique offering provides both strong in place income and significant upside, with multiple investment paths available, ideal for investors seeking flexibility, scalability, and long term growth.
Located in a fast growing section of Astoria, the property is within walking distance to the NYC Ferry for convenient Manhattan access and in close proximity to Costco and major retail, further strengthening long term rental demand.
This offering stands out for its flexibility and ability to cater to multiple investment strategies. Investors can pursue a long term hold by increasing rents to market levels & creating strong cash flow and future refinance potential.
For those seeking a hybrid approach, the asset allows for the option to renovate and sell the vacant property while retaining the income producing building for long term cash flow, effectively reducing basis while maintaining upside. More experienced investors may also explore repositioning strategies, including selling the properties individually after improvements or other value maximizing approaches.
With one cash flowing asset and one vacant building, this package naturally reduces risk while preserving upside. The rare combination of immediate income, renovation potential, and multiple exit strategies makes this a highly attractive opportunity in one of Queens' most active and evolving rental markets.
Location
State NY
County Queens
Rooms
Basement Finished
Interior
Interior Features First Floor Bedroom
Heating Natural Gas
Cooling None
Fireplace No
Exterior
Parking Features Driveway
Utilities Available Electricity Available
Total Parking Spaces 5
Garage false
Building
Sewer Public Sewer
Water Public
Structure Type Frame
Others
Senior Community No
Special Listing Condition None
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Listed by Amorelli Realty LLC • Nicholas Halvatzis
NEARBY SCHOOL & BUSINESS
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Randy Reis
Team Leader | License ID: 40RE1176716
Team Leader License ID: 40RE1176716