3801 31st Ave - Apartments FOR SALE


Astoria, NY 11103- Downtown Astoria
$5,650,000 USD
347-242-0353
3801 31st Ave, Astoria, NY for Sale
$5,650,000 USD
Apartments - FOR SALE
1/9
null | 5.58% Cap Rate

3801 31st Ave
Astoria, NY 11103
Downtown Astoria


HIGHLIGHTS

  • Elevator Building
  • Ground Floor Commercial Tenants
  • Heavy Traffic
  • Tax Abatements

OVERVIEW

Prime Mixed-Use Investment Opportunity in Astoria, NY Situated on a high-visibility corner lot at 3801 31st Avenue, just off Steinway Street, this remodeled mixed-use elevator building is a rare opportunity in the heart of Astoria. Boasting nine spacious one-bedroom residential units and two generously sized commercial spaces, this C1-3/R6A zoned property offers a perfect blend of residential comfort and commercial appeal. Each unit is thoughtfully designed with central HVAC, tasteful finishes, and modern fittings. The building benefits from exceptional exposure in a densely populated, high-traffic neighborhood, making it an ideal location for both residents and businesses alike. A 421A tax abatement, effective until 2031, significantly reduces tax burdens on the residential units, ensuring strong long-term savings for investors. Additionally, the commercial units benefit from an ICAP tax abatement through 2030, further enhancing profitability. Conveniently located just minutes from the M and R subway lines at Steinway Street and multiple bus routes, the property offers excellent accessibility to Midtown Manhattan and beyond. This turnkey investment presents an unparalleled opportunity in one of Queens’ most sought-after neighborhoods. Don’t miss out on this high-yield asset with unbeatable tax incentives and prime location benefits!

FOR SALE DETAILS

PRICE

$5,650,000 USD

PRICE/SF

$569 USD /SF

# OF UNITS

11

PRICE/UNIT

$513,636

CAP RATE

5.58%

% 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

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R6A, C1-3

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Luca DiCieroNY SPACE FINDERSMore Info
347-242-0353

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Luca DiCieroNY SPACE FINDERSMore Info
347-242-0353

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