GREAT INVESTMENT OPPORTUNITY IN ASTORIA!!! CURRENT CAP RATE of 3.4% AT BELOW MARKET RENTS. 4.5% CAP WITH CURRENT MARKET RENTS. 12-18 27th Avenue sits on the South West corner of 27th Avenue and 14th Street in a quiet and beautifully maintained residential area of Astoria. The lot measures 25' x 98' with a lot size of 1,861 sq.ft. The building's dimensions measure 23' x 37'. This 3-story multi-family building is comprised of 3 individual units with 2 bed/1 bath layouts totaling 2,607 sq.ft and a very large 869 sq.ft basement with 12' high ceilings. The second and third floor units have a balcony and additionally there are also 2 parking spaces on the property which are currently being rented out. The building has a resident manager and tenants in place with their leases ending in December 2019. The building is conveniently located close to many public transportation options including the Astoria Boulevard and 30 Avenue N/W subway stations and several major bus lines along Astoria Boulevard, 21st Street, 30th Avenue, Vernon Boulevard and Hoyt Avenue. The building also affords easy access to the Grand Central Parkway, Brooklyn Queens Expressway, Long Island Expressway, Ed Koch Queensboro Bridge and the Robert F. Kennedy Bridge. The building is within immediate access to the bustling neighborhood and its many shops and restaurants as well as beautiful Astoria Park with its wonderful facilities which include a popular public pool, tennis courts, basketball courts, skate park and children's playgrounds. Randalls Island and its many facilities are a short 15-mintues drive as well as Costco in Long Island City, a short 10-minute drive.
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