3014 29th St
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3014 29th St
20 Unit Block of Flats £3,943,979 (£197,199/Unit) 2.61% Net Initial Yield Long Island City, NY 11102
Executive Summary
Prime Investment Opportunity in Astoria – 20-Unit Multi-Family Building
This rare 20-unit, 4-story walk-up is a standout in the highly desirable neighborhood of Astoria, Queens. The same family has owned and lovingly maintained it for over 50 years, so this property presents a unique chance to acquire a well-cared-for asset with strong fundamentals.
The building features a diverse unit mix of eight two-bedroom apartments, eight one-bedroom apartments, and four studio units, ensuring broad tenant appeal. Its unparalleled location offers convenient access to major NYC transportation, top-rated schools, thriving local hospitals, and an array of shopping, dining, and entertainment options.
Astoria remains one of the most sought-after urban residential neighborhoods, guaranteeing steady demand and stable occupancy rates. The long-time superintendent has meticulously maintained the property, ensuring seamless management for its next owner.
This investment offers:
Low Risk: Situated in a high-demand area with an established tenant base.
High Potential: Opportunities for rent growth and value-added strategies.
Manageable Scale: Ideal for seasoned investors and those looking to enter the multi-family space.
Whether expanding your portfolio or making your first foray into real estate investment, this gem is a must-see. Don’t miss this chance to secure a solid, income-producing property in one of NYC’s top neighborhoods.
This rare 20-unit, 4-story walk-up is a standout in the highly desirable neighborhood of Astoria, Queens. The same family has owned and lovingly maintained it for over 50 years, so this property presents a unique chance to acquire a well-cared-for asset with strong fundamentals.
The building features a diverse unit mix of eight two-bedroom apartments, eight one-bedroom apartments, and four studio units, ensuring broad tenant appeal. Its unparalleled location offers convenient access to major NYC transportation, top-rated schools, thriving local hospitals, and an array of shopping, dining, and entertainment options.
Astoria remains one of the most sought-after urban residential neighborhoods, guaranteeing steady demand and stable occupancy rates. The long-time superintendent has meticulously maintained the property, ensuring seamless management for its next owner.
This investment offers:
Low Risk: Situated in a high-demand area with an established tenant base.
High Potential: Opportunities for rent growth and value-added strategies.
Manageable Scale: Ideal for seasoned investors and those looking to enter the multi-family space.
Whether expanding your portfolio or making your first foray into real estate investment, this gem is a must-see. Don’t miss this chance to secure a solid, income-producing property in one of NYC’s top neighborhoods.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | £3,943,979 | Apartment Style | Mid Rise |
| Price Per Unit | £197,199 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Net Initial Yield | 2.61% | Building Size | 14,000 SF |
| Gross Rent Multiplier | 12.9 | Average Occupancy | 100% |
| No. Units | 20 | Number of Floors | 4 |
| Property Type | Residential | Year Built | 1928 |
| Property Subtype | Apartment |
| Price | £3,943,979 |
| Price Per Unit | £197,199 |
| Sale Type | Investment |
| Net Initial Yield | 2.61% |
| Gross Rent Multiplier | 12.9 |
| No. Units | 20 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 14,000 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built | 1928 |
Site Amenities
- Property Manager on Site
- Gas Range
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
| 1+1 | 8 | - | - |
| Studios | 4 | - | - |
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Walk Score ®
Walker's Paradise (99)
Transit Score ®
Excellent Transit (85)
Bike Score ®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 00576-0049 | Improvements Assessment | £440,076 |
| Land Assessment | £79,684 | Total Assessment | £519,760 |
PROPERTY TAXES
Parcel Number
00576-0049
Land Assessment
£79,684
Improvements Assessment
£440,076
Total Assessment
£519,760
zoning
| Zoning Code | R6A |
| R6A |
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3014 29th St
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