Excellent Investment or 1031 Exchange Opportunity! Just shy of 5% cap rate in growth neighborhood with opportunity to add value. Post Covid will be well above 5% cap rate. This is a hassle free investment opportunity with tenants already in place and well running property. Being close to the subway as well as some of the most vibrant offerings Astoria has to offer will forever hold your value in the home and allow for increasing rents over time. Three (3) Unit Building 2 Floors and Ground floor with laundry and 2 bedroom unit. All 3 units have ductless temp controlled heat/AC, beautifully renovated kitchens with dishwashers. tons of windows and natural light! UNIT G: Tenant in place for $2,250. Recently reduced from $2,550 due to Covid. Full size stainless steel appliances including dishwasher! Also behind unit is the shared washer dryers for house with separate entrance. Each tenant has there own laundry cabinet for storage. UNIT 1: Tenant in place for $3,450. Gorgeously renovated 3 bedroom apt pics show all. UNIT 2: Tenant in place for $3,550. Same renovations as unit 1 but this one has a skylight. GARAGE: Tenant in place for $700. Tenant has been with us over a decade with moderate rent increases. Mostly stores old motorcycles. Pic is from original renovation 10+ years ago. LAUNDRY: Income averages $150 a month. Coin operated with Dollar machine in place. Tenants control and pay their own electricity and gas individually. CURRENT NOI: 106K PROJECTED post Covid NOI: 112K CURRENT CAP RATE: 4.83% POST COVID CAP RATE: 5.12% *Astoria's most iconic streets (Steinway & Ditmars) just around the corner! *Just a short walk to N/W trains at Astoria Blvd and Ditmars Blvd stations. *Home to some of the best restaurants, cafes and night life, Astoria is the perfect neighborhood for any New Yorker! *Quiet and safe area, yet close to everything.
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