Marcus & Millichap - Tri Borough Multi-Family

30-04 45th Street


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Price: $675,000
Building Size: 5,408 Square Feet
Property Type: Multi Family

Constructed in 1930 (est.), the subject property is a three (3) story attached six (6) unit brick apartment building in Astoria, Queens. It is built 27′ x 68′ on a 27′ x 100′ R5/C1-2 zoned lot accommodating approximately 5,400 residential square feet. The building houses six rent-stabilized four-room railroad apartments.

The subject property is in Astoria, a neighborhood in northeastern Queens, and is located on 45th Street between 30th Avenue and 30th Road.

The subject property presents an investor with the opportunity to own an income-producing property in a desirable residential neighborhood. Proper management, major capital improvements (MCIs) and individual apartment improvements (IAIs) will allow the investor to take advantage of below market rents to increase net operating income in the short to medium term.