3014 29th St 20 Unit Apartment Building $4,398,000 ($219,900/Unit) 5.92% Cap Rate Long Island City, NY 11102

Prime Astoria Investment – 20-Unit Multi-Family Building
Offered for the first time in nearly six decades, this well-maintained 20-unit walk-up building presents a rare investment opportunity in the heart of Astoria, Queens. Owned and managed by the same family for 58 years, this property combines stability, income strength, and long-term potential.
Property Overview
Four-story, brick multi-family building
20 residential units: 8 two-bedrooms, 8 one-bedrooms, and 4 studios
Consistently occupied with a strong rental history.
Solid mechanics and clean condition – true turn-key management
Lot size: 50X100, 5000 sf, and building size 50X88, (14,000 sf)
Investment Highlights
Prime Astoria Location – Steps to subway and bus lines, shopping, dining, schools, and hospitals
Strong Market Fundamentals – High-demand, supply-constrained neighborhood ensures lasting rental appeal.
Diversified Unit Mix – Attracts a broad tenant base, from professionals to families.
Value-Add Potential – Upside through renovation, modernization, and rent optimization
Stable Income Stream – Long-term tenants and proven management track record
Astoria remains one of New York City’s most vibrant and sought-after neighborhoods, offering investors a blend of community character and urban convenience.
Whether you’re looking to expand your portfolio or enter the multifamily market, this property represents a compelling combination of stability, cash flow, and growth potential.
Income and expense statements, along with the rent roll, are available upon request.