1422 Astoria Blvd - Apartments FOR SALE


Astoria, NY 11102- Hallett's Cove
$2,995,000 USD
516-404-7056
1422 Astoria Blvd, Astoria, NY for Sale
$2,995,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

1422 Astoria Blvd
Astoria, NY 11102
Hallett's Cove


OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,995,000 USD

PRICE/SF

$478 USD /SF

# OF UNITS

6

PRICE/UNIT

$499,167

CAP RATE

Request Cap Rate

% LEASED

50%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Package Deal - Two (3) Families

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,437 SF

ZONING

R6B

APN/PARCEL ID

00899-0048

ASK ABOUT THIS PROPERTY

Yianni BachasAmorelli RealtyMore Info
516-404-7056

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Yianni BachasAmorelli RealtyMore Info
516-404-7056

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.