3710 31st Ave
Astoria, NY 11103
Multifamily Property For Sale · 9 Units

37-10 31st Avenue presents an opportunity to acquire a modern mixed-use asset in the core of Astoria, one of Queens' most sought-after and supply-constrained investment markets. Built in 2013, the property features residential apartments above a well-positioned ground-floor retail component, generating diversified income and stable cash flow from multiple revenue streams. Located along Astoria's primary commercial corridor, the asset benefits from exceptional visibility, strong underlying retail fundamentals, and consistent residential demand. Its proximity to the N/W subway lines provides direct access to Midtown Manhattan, further supporting tenant retention, leasing velocity, and long-term rent growth. Modern construction, efficient building systems, and private outdoor space for select units contribute to a low-maintenance ownership profile and limited near-term capital expenditure requirements. Combined with Astoria's dense population, strong demographic profile, and historically resilient rental market, the property offers investors a compelling combination of in-place income, operational efficiency, and long-term appreciation potential. Adding to its investment appeal, the property benefits from a 421 Tax Abatement in place through 2031, providing meaningful tax savings and enhancing near-term cash flow.