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21-51 27th St 16 Unit Apartment Building $3,800,000 ($237,500/Unit) 6.19% Cap Rate Astoria, NY 11105
Investment Highlights
- Prime Astoria/Ditmars Location
- Hassle free property
- 12 renovated apartments
Executive Summary
INTRODUCING A RARE 16-UNIT MULTIFAMILY BUILDING IN THE HEART OF ASTORIA, QUEENS, OFFERING EXCEPTIONAL STABILITY AND LONG-TERM UPSIDE.
THIS METICULOUSLY MAINTAINED PROPERTY FEATURES 12 FULLY RENOVATED APARTMENTS, UPDATED ROOF, AND OVERALL EXCELLENT BUILDING CONDITION THAT REFLECTS TRUE PRIDE OF OWNERSHIP. LOCATED IN ONE OF ASTORIA’S MOST DESIRABLE AND HIGH-DEMAND CORRIDORS, CLOSE TO ALL CONVENIENCES AND TRANSPORTATION, THIS ASSET PROVIDES STRONG RENTAL APPEAL, CONSISTENT CASH FLOW, AND MINIMAL FUTURE CAPITAL NEEDS — AN IDEAL ADDITION TO ANY INVESTOR’S PORTFOLIO.
THIS METICULOUSLY MAINTAINED PROPERTY FEATURES 12 FULLY RENOVATED APARTMENTS, UPDATED ROOF, AND OVERALL EXCELLENT BUILDING CONDITION THAT REFLECTS TRUE PRIDE OF OWNERSHIP. LOCATED IN ONE OF ASTORIA’S MOST DESIRABLE AND HIGH-DEMAND CORRIDORS, CLOSE TO ALL CONVENIENCES AND TRANSPORTATION, THIS ASSET PROVIDES STRONG RENTAL APPEAL, CONSISTENT CASH FLOW, AND MINIMAL FUTURE CAPITAL NEEDS — AN IDEAL ADDITION TO ANY INVESTOR’S PORTFOLIO.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$351,111
|
$31.92
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$351,111
|
$31.92
|
| Taxes |
$64,734
|
$5.88
|
| Operating Expenses |
$51,037
|
$4.64
|
| Total Expenses |
$115,771
|
$10.52
|
| Net Operating Income |
$235,340
|
$21.39
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $351,111 |
| Annual Per SF | $31.92 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $351,111 |
| Annual Per SF | $31.92 |
| Taxes | |
|---|---|
| Annual | $64,734 |
| Annual Per SF | $5.88 |
| Operating Expenses | |
|---|---|
| Annual | $51,037 |
| Annual Per SF | $4.64 |
| Total Expenses | |
|---|---|
| Annual | $115,771 |
| Annual Per SF | $10.52 |
| Net Operating Income | |
|---|---|
| Annual | $235,340 |
| Annual Per SF | $21.39 |
Property Facts
| Price | $3,800,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $237,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 6.19% | Building Size | 11,000 SF |
| Gross Rent Multiplier | 11 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | ||
| Zoning | R5 | ||
| Price | $3,800,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 6.19% |
| Gross Rent Multiplier | 11 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 11,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1927 |
| Zoning | R5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 00857-0013 | Total Assessment | $532,350 |
| Land Assessment | $61,200 | Annual Taxes | $64,734 ($5.88/SF) |
| Improvements Assessment | $471,150 | Tax Year | 2025 |
Property Taxes
Parcel Number
00857-0013
Land Assessment
$61,200
Improvements Assessment
$471,150
Total Assessment
$532,350
Annual Taxes
$64,734 ($5.88/SF)
Tax Year
2025
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21-51 27th St
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