2510 38th Ave - Apartments FOR SALE


Long Island City, NY 11101- LIC
$11,800,000 USD
516-279-8828
2510 38th Ave, Long Island City, NY for Sale
$11,800,000 USD
Apartments - FOR SALE
1/52
null | 6.09% Cap Rate

2510 38th Ave
Long Island City, NY 11101
LIC


HIGHLIGHTS

  • Calling All Investors, Developers, & End-Users!!! 20,800+ Sqft. 20 Unit Mixed-Use Building In Astoria For Sale!!!
  • The Property Features Excellent Signage, Great Exposure, M1-2/R6A Zoning, High 11’ Ceilings, Low Taxes, 11 Parking Spaces, 19 Apartments, +++!!!
  • The Property Is Located In The Heart Of Astoria Only A Few Blocks From The Ed Koch Queensboro Bridge Offering Direct Easy Access To Manhattan!!!
  • Neighbors Include UPS, Hilton Hotels, Marriott Hotels, Wyndham Hotels, T-Mobile, The Home Depot, CubeSmart Self Storage, Extra Space Storage, +++!!!
  • This Property Offers HUGE Upside Potential!!!
  • This Could Be Your Next Development Site / The Next Home For Your Business!!!

OVERVIEW

Calling All Investors, Developers, & End-Users!!! 20,800+ Sqft. 20 Unit Mixed-Use Building In Astoria For Sale!!! The Property Features Excellent Signage, Great Exposure, M1-2/R6A Zoning, High 11’ Ceilings, Low Property Taxes, 11 Parking Spaces, 19 Apartments, Separate Meters, Storage Area, Washers & Dryers, Elevator, 3 Phase Power, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Astoria Only A Few Blocks From The Ed Koch Queensboro Bridge Offering Direct Easy Access To Manhattan!!! Neighbors Include UPS, Hilton Hotels, Marriott Hotels, Wyndham Hotels, T-Mobile, The Home Depot, CubeSmart Self Storage, Extra Space Storage, Best Buy, Dunkin’, Planet Fitness, Marshalls, Michaels, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site / The Next Home For Your Business!!! Income: Revel Fashion: $108,048.84 Ann.; Lease Exp.: 11/30/25 Apt 3A (Studio): $32,136.00 Ann.; Lease Exp.: 9/1/25 Apt 3B (1 Br., 1 Bath): $27,987.36 Ann.; Lease Exp.: 1/31/26 Apt 3C (1 Br., 1 Bath): $35,013.48 Ann.; Lease Exp.: 5/31/26 Apt 3D (1 Br., 1 Bath): $36,990.00 Ann.; Lease Exp.: 11/30/25 Apt 4A (Studio): $30,538.92 Ann.; Lease Exp.: 3/31/26 Apt 4B (1 Br., 1 Bath): $31,537.68 Ann.; Lease Exp.: 9/30/25 Apt 4C (1 Br., 1 Bath): $31,164.48 Ann.; Lease Exp.: 4/30/27 Apt 4D (1 Br., 1 Bath): $33,437.40 Ann.; Lease Exp.: 3/31/26 Apt 5A (Studio): $30,825.00 Ann.; Lease Exp.: 2/28/26 Apt 5B (1 Br., 1 Bath): $36,990.00 Ann.; Lease Exp.: 12/31/25 Apt 5C (1 Br., 1 Bath): $36,000.00 Ann.; Lease Exp.: 7/31/25 Apt 5D (1 Br., 1 Bath): $36,194.76 Ann.; Lease Exp.: 11/30/25 Apt 6A (Studio): $28,103.76 Ann.; Lease Exp.: 2/28/26 Apt 6B (1 Br., 1 Bath): $35,082.36 Ann.; Lease Exp.: 8/31/25 Apt 6C (1 Br., 1 Bath): $31,087.56 Ann.; Lease Exp.: 7/31/25 Apt 6D: (1 Br., 1 Bath) $30,611.40 Ann.; Lease Exp.: 4/30/26 Apt 7A (Studio): $29,664.00 Ann.; Lease Exp.: 8/31/25 Apt 7B (1 Br., 1 Bath): $25,893.00 Ann.; Lease Exp.: 1/31/26 Apt 7C (1 Br., 1 Bath): $35,269.80 Ann.; Lease Exp.: 2/28/26 Washer & Dryer: $19,320.00 Ann. Storage: $35,600. Ann. Parking: $38,400. Ann. Total Gross Income: $815,895.80 Ann. Expenses: Gas: $2,400 Ann. Electric: $7,200 Ann. Maintenance & Repairs: $3,000 Ann. Insurance: $8,000 Ann. Taxes: $13,395.28 Ann. Total Expenses: $33,995.28 Ann. Net Operating Income (NOI): $781,900.52 Ann.

FOR SALE DETAILS

PRICE

$11,800,000 USD

PRICE/SF

$528 USD /SF

# OF UNITS

19

PRICE/UNIT

$621,053

CAP RATE

6.09%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

25-10 38th Avenue Astoria, NY 11101

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

8

YEAR BUILT

2018

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

R6B

APN/PARCEL ID

00387-0011

ASK ABOUT THIS PROPERTY

Matthew ShaneAll Island CommercialMore Info
516-279-8828

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Matthew ShaneAll Island CommercialMore Info
516-279-8828

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