94-20 Astoria Blvd 38 Unit Apartment Building $5,500,000 ($144,737/Unit) 6.71% Cap Rate Flushing, NY 11369

Investor Opportunity in the Path of Willets Point Redevelopment
38-Unit Multifamily Asset | Strong In-Place Cash Flow | 6% Cap Rate
R6B / C1-3 Zoning - 9,000 square feet of unused FAR
- 38 rent-stabilized studio apartments
- 12 income-producing parking spaces
- 6% Cap Rate
- Approximately 9,000+ SF of unused FAR
- Detached building with operational flexibility
- Positioned to benefit from the multibillion-dollar Willets Point redevelopment
- Rare combination of current yield and future upside
Positioned just minutes from the multibillion-dollar Willets Point redevelopment, this property offers investors a rare combination of stable cash flow and long-term upside. Located on Astoria Boulevard, the asset benefits from its proximity to the future soccer stadium, hotel, retail, and mixed-use developments that are transforming the area.
Location Highlights
- Minutes from the Willets Point redevelopment district
- Convenient access to LaGuardia Airport
- Served by the Q19, Q49, Q72, and Q47 bus lines
- Minutes to the Grand Central Parkway, Long Island Expressway and Cross Island Parkway
A unique opportunity to acquire a cash-flowing multifamily asset with significant appreciation and development potential in one of Queens' fastest-growing corridors, just minutes away from the most exciting thing to happen in Queens since the World’s Fair.