Project Description

For Sale: Multi-Family Building in Astoria, New York

4307 34th Ave, Astoria, New York 11101

Executive Summary:

Price: $2,950,000
Building Size: 7,500 SF
Property Type: Multi-Family
Lot Size: 0.06 Acres
Year Built: 1929
Cap Rate: 4.48%
NOI: $132,290
Location:
4307 34th Ave
Astoria, NY 11101

Investment Highlights

  • Fully Occupied 6 Unit Multi-Family Property
  • Great Location Near Northern Blvd and the Brooklyn Queens Expressway
  • Nearby Subway Lines for Easily Accessible Transportation
  • Near Neighborhood Amenities Including the Busy Steinway St Retail Corridor

Investment Summary

American Investment Properties is exclusively retained to sell 4307 34th ave in Astoria, New York. At this location is a fully occupied 6-unit multi-family property. This property is in a great location for residents. It’s only a few blocks from the busy Steinway St retail corridor which consists of all the neighborhood amenities residents most beneficial to residents.

There are a few subway lines and train stops within walking distance to this multi-family property and major roadways are also a short drive away.

Additionally, there is potential rental upside to this property as two apartment units are below market rents.

About Astoria, New York

Astoria is a neighborhood in the western portion of the New York City borough of Queens. Astoria is bounded by the East River and is adjacent to three other Queens neighborhoods: Long Island City to the southwest, Sunnyside to the southeast, and Woodside to the east. As of 2019, Astoria has an estimated population of 95,446

Laid-back Astoria is a multicultural neighborhood of low-rise residences and small businesses, in Queens. Known for its Greek tavernas and cafes, the area is home to a variety of traditional ethnic eateries and trendy spots. The Museum of the Moving Image, with its exhibits about film, television and digital media, is a top draw. The open-air Bohemian Beer Garden and Astoria Park hum with activity in warm weather.

Astoria generally has a higher ratio of college-educated residents than the rest of the city as of 2018. Half of residents (50%) have a college education or higher, while 16% have less than a high school education and 33% are high school graduates or have some college education. By contrast, 39% of Queens residents and 43% of city residents have a college education or higher.

The percentage of Astoria students excelling in math rose from 43 percent in 2000 to 65 percent in 2011, and reading achievement rose from 47% to 49% during the same time period.

Contact Broker

Sean Hicks
Sales Associate

sean@aiprops.com
(O) 516.393.2300
(F) 516.390.5780

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
President
Ron@aiprops.com
(O) 516.393.2300
(F) 516.390.5780

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