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3432 33rd St 6 Unit Apartment Building $2,200,000 ($366,667/Unit) 6.50% Cap Rate Astoria, NY 11106
Investment Highlights
- Fully occupied 6-unit multifamily building
- Three units with in-unit washer/dryer
- Tax Class 2A
- 50% fair market units with upside potential
- Located in desirable Astoria neighborhood
Executive Summary
This is a fully occupied six-unit multifamily building located in the Astoria neighborhood of Queens, New York.? The property features a mix of rent-stabilized and free-market units, with three units containing washer dryer amenities.? The building sits on a 2,500 square foot lot with R5 zoning and a 1.5 FAR.? The property presents a solid investment opportunity with a 6.5% current cap rate and pro forma upside potential reaching a 6.7% cap rate.?
Property Facts
| Price | $2,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $366,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.50% | Building Size | 4,560 SF |
| Gross Rent Multiplier | 10.9 | No. Stories | 3 |
| No. Units | 6 | Year Built | 1926 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R5 | ||
| Price | $2,200,000 |
| Price Per Unit | $366,667 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 10.9 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 4,560 SF |
| No. Stories | 3 |
| Year Built | 1926 |
| Opportunity Zone |
Yes |
| Zoning | R5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 5 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 00609-0041 | Improvements Assessment | $165,579 |
| Land Assessment | $1,800 | Total Assessment | $167,379 |
Property Taxes
Parcel Number
00609-0041
Land Assessment
$1,800
Improvements Assessment
$165,579
Total Assessment
$167,379
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3432 33rd St
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