Property Description

An attractive investment opportunity in one of Astoria's most consistently strong rental corridors. This free-market four family offers more than 3,000 square feet of interior space, a full unfinished basement, and clear upside for both short-term repositioning and long-term appreciation. With three one-bedroom apartments and one two-bedroom apartment, the building layout is ideal for investors focused on cash flow, renovations, and value creation.The property requires upgrades, giving the next owner full flexibility to modernize the units, increase overall income, and align the building with market-level rents. One of the one-bedroom units, 2R, has already been renovated and will be delivered vacant, allowing immediate leasing at current market rates or use as a model unit for the rest of the building.Unit Layouts 1F: Kitchen, living room, one bedroom, full bath 1R: Kitchen, living room, one bedroom, full bath 2F: Kitchen, living room, two bedrooms, full bath 2R: Kitchen, living room, one bedroom, full bath Basement: Full, unfinished Outdoor space: Rear yardRecent Structural and Mechanical Updates(Completed within the past ten years) Roof Windows BoilerThese updates reduce near-term capital expenses and give investors the ability to focus resources on interior improvements that maximize rental value.Location HighlightsLocated on a quiet residential block just steps from 34th Avenue and Broadway. This area is known for strong rental demand, consistent appreciation, and long-term tenant retention. Everyday conveniences, dining, cafes, nightlife, and shopping are all within a short walk, making this property highly attractive to renters seeking central Astoria living.TransportationA short walk to the N and W trains with a commute of about twenty minutes to Manhattan. Easy access to major highways, bridges, and thoroughfares.Property Information Annual taxes: $15,804 Lot dimensions: 24.5 x 95 Basement: Full, unfinishedCurrent Tenancy 1F (1 bedroom): Tenant occupied. Lease ends May 31, 2026 1R (1 bedroom): Tenant occupied. Lease ends August 31, 2026 2F (2 bedroom): Tenant occupied. Lease ends December 15, 2025 2R (1 bedroom): Renovated and delivered vacantThis property combines free-market status, an excellent location, building size, and renovation upside. Investors seeking a value-add opportunity in a high-demand Astoria neighborhood will find strong potential for income growth and long-term performance.

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