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2435 Steinway St 16 Unit Apartment Building $3,700,000 ($231,250/Unit) 6.50% Cap Rate Astoria, NY 11103
Investment Highlights
- Monthly Income
- Beautiful Location on Steinway
Executive Summary
16 Unit Building for Sale in Prime Astoria Location
Exceptional investment opportunity featuring 10 free market and 6 rent stabilized apartments. 7 apartments are 2 bedrooms, and 9 apartments are 1 bedroom.
This property boasts 11 updated units, a 2025 upgraded roof and skylight, freshly painted hallways, and 14 new steel apartment doors. Efficiency upgrades include water conservation components, a modern boiler system, and a CompuSave energy management system for constant heat and hot water monitoring with WiFi-enabled data. Recent improvements include sidewalk repairs and steam system upgrades. Conveniently located near public transportation, shops, and major highways.
Exceptional investment opportunity featuring 10 free market and 6 rent stabilized apartments. 7 apartments are 2 bedrooms, and 9 apartments are 1 bedroom.
This property boasts 11 updated units, a 2025 upgraded roof and skylight, freshly painted hallways, and 14 new steel apartment doors. Efficiency upgrades include water conservation components, a modern boiler system, and a CompuSave energy management system for constant heat and hot water monitoring with WiFi-enabled data. Recent improvements include sidewalk repairs and steam system upgrades. Conveniently located near public transportation, shops, and major highways.
Financial Summary (Actual - 2025) 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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,700,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $231,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6.50% | Building Size | 17,864 SF |
| No. Units | 16 | Average Occupancy | 81% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1926 |
| Zoning | R5,Queens,(C1) - Residential Apartments | ||
| Price | $3,700,000 |
| Price Per Unit | $231,250 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 17,864 SF |
| Average Occupancy | 81% |
| No. Stories | 4 |
| Year Built | 1926 |
| Zoning | R5,Queens,(C1) - Residential Apartments |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Hardwood Floors
- Sprinkler System
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Walk-Up
- Smoke Detector
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 00686-0002 | Total Assessment | $585,900 |
| Land Assessment | $142,650 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $443,250 | Tax Year | 2025 |
Property Taxes
Parcel Number
00686-0002
Land Assessment
$142,650
Improvements Assessment
$443,250
Total Assessment
$585,900
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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2435 Steinway St
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