3014 29th St - Apartments FOR SALE


Long Island City, NY 11102
$4,900,000 USD
917-751-5020
3014 29th St, Long Island City, NY for Sale
$4,900,000 USD
Apartments - FOR SALE
1/14
null | 3.97% Cap Rate

3014 29th St
Long Island City, NY 11102


HIGHLIGHTS

  • One-third (7 units) are deregulated and priced below market value, offering future financial growth benefits.
  • Great location on 29th Street

OVERVIEW

**Prime Investment Opportunity in Astoria – 20-Unit Multi-Family Building** This well-maintained 20-unit, 4-story walk-up in Astoria, Queens, presents a unique opportunity for investors. Owned by the same family for over 50 years, the property boasts strong fundamentals and potential for increased income. The building offers a diverse mix of eight two-bedroom apartments, eight one-bedroom apartments, and four studio units, appealing to a broad tenant base. Its exceptional location provides easy access to major NYC transportation, top-rated schools, local hospitals, and a variety of shopping, dining, and entertainment options. Astoria remains a sought-after residential neighborhood, ensuring steady demand and stable occupancy rates. The property is in good condition, allowing for low-maintenance management. This investment features: - **Low Risk:** Situated in a high-demand area with an established tenant base. - **High Growth Potential:** Opportunities for rent increases and value-added improvements. Whether you’re expanding your portfolio or venturing into real estate investment for the first time, this gem is a must-see. Don’t miss your chance to secure a solid, income-producing property in one of NYC’s top neighborhoods. Income, expense, and rent roll are attached or available upon request.

FOR SALE DETAILS

PRICE

$4,900,000 USD

PRICE/SF

$350 USD /SF

# OF UNITS

20

PRICE/UNIT

$245,000

CAP RATE

3.97%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

5,001 SF

ZONING

R6A

APN/PARCEL ID

00576-0049

ASK ABOUT THIS PROPERTY

Jim PowersTapestry Real EstateMore Info
917-751-5020

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Jim PowersTapestry Real EstateMore Info
917-751-5020

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