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25-21 23rd Street 24
Apartment #24
$6,750,000 Price
20 Bedrooms   20.0 Baths
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Photo 1 of 25-21 23rd Street 24, Astoria, New York, $6,750,000, Web #: 1114309490Previous PhotoNext Photo1 of 19

25-21 23rd Street, 24, Astoria, New York

Welcome to a prime investment opportunity in the heart of Astoria! This well-maintained 24-unit property is ideally situated in one of Astoria’s most vibrant and desirable neighborhoods, offering both convenience and strong appeal to residents and investors alike. With a net operating income of $403,000 and a...

Welcome to a prime investment opportunity in the heart of Astoria! This well-maintained 24-unit property is ideally situated in one of Astoria’s most vibrant and desirable neighborhoods, offering both convenience and strong appeal to residents and investors alike. With a net operating income of $403,000 and a current cap rate of 5.9%, this property represents a lucrative opportunity with solid returns and long-term growth potential. The building features: 9 spacious, recently renovated free-market one-bedroom apartments – allowing flexibility in rental pricing to maximize income based on current market demand. 14 rent-stabilized one-bedroom units and 1 rent-stabilized two-bedroom unit – providing consistent cash flow. Notably, 12 of these apartments are currently rented below market value, and under current regulations, the landlord can charge market rent upon vacancy. Additional Property Highlights: - Building Size: 38 ft x 93 ft. - Lot Size: 38.09 ft x 105 ft. - New Boiler Installed. This property offers investors a unique blend of stable income and future upside potential through rent adjustments and property appreciation in a rapidly growing neighborhood.

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

New Listing
Astoria, New York
Type:
Price: $6,750,000
Date Listed: 5/20/2025
Web ID: 1114309490

Info & Amenities

Rooms: 40.0
Bedrooms: 20
Bathrooms: 20.0
Built: 1916

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved.

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