25-21 23rd Street
25-21 23rd Street
Exclusive Expired
Exclusive Expired
Description
Within this building, you will find 9 spacious and recently renovated free market one-bedroom...Welcome to this great investment opportunity in the vibrant neighborhood of Astoria. This well maintained 24-unit property is nestled in a great location, offering both convenience and desirability for residents and investors alike. With its net income of $361,115 and expenses totaling $175,069, this property presents a lucrative venture that promises a rewarding return on investment. Current Cap Rate is 5.2%.
Within this building, you will find 9 spacious and recently renovated free market one-bedroom apartments. These units offer the flexibility to set rental rates based on market demand, providing an opportunity for potentially higher rental income. Currently, these apartments are renting below market value, and the new owner can increase rents by $300 or more during lease renewals. As a result, the projected Cap Rate is expected to reach 7% or higher.
The building also features 14 rent-stabilized one-bedroom and 1 two-bedroom apartments, which provide a steady stream of income. Of these, 12 apartments are currently below market rent, but legal regulations allow the landlord to charge market rent on vacancy.
Building size – 38 feet by 93 feet.
Lot size – 38.09 feet by 105 feet.
New boiler.
Investing in this 24-unit property in Astoria offers not only a substantial income stream but also the potential for long-term value appreciation.
Listing Agent
![Oksana Kononenko]()
oksana.kononenko@compass.comP: 347.721.1522
Amenities
- Walk Up
- Voice Intercom
- Midrise
- Lowrise
Location
Property Details for 25-21 23rd Street
| Status | Exclusive Expired |
|---|---|
| Days on Market | 53 |
| Taxes | $10,479 / month |
| Maintenance | $415 / month |
| Min. Down Pymt | 30% |
| Total Rooms | 40.0 |
| Compass Type | Multi Family |
| MLS Type | - |
| Year Built | 1916 |
| Lot Size | 3,999 SF / 38' x 105' |
| County | Queens County |
Building
25-21 23rd St
Location
Building Information for 25-21 23rd Street
Payment Calculator
$44,316 per month
30 year fixed, 7.25% Interest
$33,422
$10,479
$415
Property History for 25-21 23rd Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 25-21 23rd Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 12 |
Rating | School | Distance |
|---|---|---|
P.S. 17 Henry David Thoreau PublicPK to 5 | ||
William Cullen Bryant High School Public9 to 12 | ||
Young Womens Leadership School Public6 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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