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 Offered for the first time in nearly six decades, this well-maintained, 20-unit walk-up building in the heart of Astoria, Queens, presents a rare and rewarding opportunity for investors. Owned by the same family for 58 years, it’s now ready for new stewardship and continued growth. This four-story property features a desirable mix of eight two-bedroom units, eight one-bedroom units, and four studios, offering a strong rental base and broad tenant appeal. Its prime location ensures consistent demand, with proximity to major NYC transit, top schools, hospitals, and an array of shopping, dining, and entertainment options. Astoria continues to be one of New York City’s most sought-after neighborhoods, offering a balance of community charm and urban convenience. The building is in solid condition, with stable occupancy and efficient day-to-day management. Highlights Include: Strong Market Fundamentals: Located in a high-demand, supply-constrained neighborhood. Diversified Unit Mix: Appeals to a broad tenant demographic. Value-Add Potential: Opportunities for rent growth and upgrades. Turnkey Management: Clean physical condition and long-term tenant base. Whether you’re expanding your portfolio or entering the multifamily sector, this property represents a compelling blend of stability and upside. With time and strategic stewardship, you’ll find this investment both gratifying and profitable. Income, expense statements, and rent roll 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.