3093 38th St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
3093 38th St
9 Unit Block of Flats £4,494,123 (£499,347/Unit) 5.49% Net Initial Yield Astoria, NY 11103
Investment Highlights
- Prime Corner + High Real Estate Fundamentals
- East to Manage
- High End Renovations
- Multiple Tax Abatements
Executive Summary
Introducing 38-01 31st Avenue, Astoria - an exceptional eleven unit mixed use building that offers a perfect blend of residential and commercial spaces. This four-story building boasts nine tastefully designed residential units and two expansive commercial units, all spread across a prime location in Astoria, NY.
Step inside this remarkable property and you'll immediately appreciate the stunning interiors that have been crafted to perfection. Each residential unit is well thought out, creating a comfortable and inviting space that residents will love to call home. Meanwhile, the two commercial units on the ground floor provide the perfect opportunity for entrepreneurs and business owners to establish a thriving business in a high-traffic area.
As an added bonus, this property benefits from a 421A tax abatement lasting until 2031, providing significant tax savings for years to come. The commercial units also benefit from an ICAP tax abatement until 2030, further enhancing the appeal of this investment opportunity.
Step inside this remarkable property and you'll immediately appreciate the stunning interiors that have been crafted to perfection. Each residential unit is well thought out, creating a comfortable and inviting space that residents will love to call home. Meanwhile, the two commercial units on the ground floor provide the perfect opportunity for entrepreneurs and business owners to establish a thriving business in a high-traffic area.
As an added bonus, this property benefits from a 421A tax abatement lasting until 2031, providing significant tax savings for years to come. The commercial units also benefit from an ICAP tax abatement until 2030, further enhancing the appeal of this investment opportunity.
Data Room Click Here to Access
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£328,727
|
£33.10
|
| Taxes |
£63,303
|
£6.37
|
| Operating Expenses |
£9,823
|
£0.99
|
| Total Expenses |
£73,126
|
£7.36
|
| Net Operating Income |
£255,601
|
£25.74
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £328,727 |
| Annual Per SF | £33.10 |
| Taxes | |
|---|---|
| Annual | £63,303 |
| Annual Per SF | £6.37 |
| Operating Expenses | |
|---|---|
| Annual | £9,823 |
| Annual Per SF | £0.99 |
| Total Expenses | |
|---|---|
| Annual | £73,126 |
| Annual Per SF | £7.36 |
| Net Operating Income | |
|---|---|
| Annual | £255,601 |
| Annual Per SF | £25.74 |
Property Facts
| Price | £4,494,123 | Property Subtype | Apartment |
| Price Per Unit | £499,347 | Apartment Style | Mid Rise |
| Sale Type | Investment | Building Size | 9,932 SF |
| Net Initial Yield | 5.49% | Average Occupancy | 100% |
| No. Units | 9 | Number of Floors | 4 |
| Property Type | Residential | Year Built/Renovated | 1970/2016 |
| Price | £4,494,123 |
| Price Per Unit | £499,347 |
| Sale Type | Investment |
| Net Initial Yield | 5.49% |
| No. Units | 9 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Size | 9,932 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built/Renovated | 1970/2016 |
Unit Amenities
- Dishwasher
- Oven
- Stainless Steel Appliances
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | 600 - 800 |
1 of 1
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (78)
zoning
| Zoning Code | R6A, C1-3 |
| R6A, C1-3 |
1 of 6
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
3093 38th St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.