3051 14th St - Apartments FOR SALE


Astoria, NY 11102- Downtown Astoria
$1,995,000 USD
917-419-2461
3051 14th St, Astoria, NY for Sale
$1,995,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

3051 14th St
Astoria, NY 11102
Downtown Astoria


OVERVIEW

Welcome to 30-51 14th street, Exceptional 5-Family Investment Opportunity with Double Parking Garage in Prime Astoria. Presenting a well-maintained, free-market 5-family building with a rare double parking garage and finished basement, ideally located in the heart of Astoria, one of Queens’ most vibrant and rapidly appreciating neighborhoods. Built in 1990, this solid brick property sits on a 25' x 95' lot, with a 25-foot wide structure offering smart layouts and dependable construction. The building generates a strong gross annual income of $136,500, with significant upside. All five apartments are spacious one-bedroom units, each approximately 600 sq ft, and include private balconies, providing sought-after outdoor space. The ground-floor unit features a large private backyard, ideal for added tenant appeal or potential owner occupancy. The building is in excellent physical condition, with minimal deferred maintenance. Most importantly for investors, this is a free-market property, none of the units are rent-stabilized, and none of the tenants have leases, allowing for immediate rental adjustments or upgrades. Current average rents are $2,055/month, which remain well below market rates for the area, giving buyers the opportunity to increase returns significantly. The inclusion of a double parking garage is a rare and highly valuable amenity in Astoria, greatly enhancing the property's appeal and income potential. This added convenience is especially attractive in a neighborhood where parking is limited. Astoria remains one of New York City's most desirable rental markets, thriving restaurant and nightlife scene, beautiful waterfront parks, and unbeatable access to Manhattan via multiple subway lines and major roadways. With its combination of strong in-place income, future upside, outdoor space, and private parking, this property represents a rare opportunity to secure a high-performing, flexible asset in a top-tier location.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$593 USD /SF

# OF UNITS

5

PRICE/UNIT

$399,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1990

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,278 SF

ZONING

R6B

APN/PARCEL ID

00535-0122

ASK ABOUT THIS PROPERTY

Zachi KorenReal Estate Leonard LLCMore Info
917-419-2461

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Zachi KorenReal Estate Leonard LLCMore Info
917-419-2461

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