3018 23rd Street, Astoria

8-Family Building For Sale
Outstanding investment opportunity in the heart of Astoria. 30-18 23rd Street is an income-producing 8-family multifamily building featuring a strong and highly rent-able unit mix: one studio apartment, six one-bedroom apartments, and one two-bedroom duplex penthouse.

The property is currently generating approximately $244,605.60 in annual gross income, including laundry income, with an estimated current NOI of approximately $160,400. Based on projected market rents, the building has potential to generate approximately $285,600 in annual gross income, with a projected pro forma NOI of approximately $201,400.

This well-positioned Astoria asset offers immediate cash flow with upside potential, making it an excellent opportunity for investors seeking a stable multifamily property in a desirable Queens rental market. The two-bedroom duplex penthouse provides premium rental appeal, while the six one-bedroom apartments and studio offer consistent tenant demand and a balanced income stream.

Current & Potential Rent Roll
Unit:Layout-Current Monthly Rent -Potential Monthly Rent
1F Studio $1,676.56 PR:$2,100
1R 1 Bedroom $2,799.85 PR$3,250
2F 1 Bedroom $2,525.00 PR$2,750
2R 1 Bedroom $2,422.32 PR$2,800
3F 1 Bedroom $2,211.69 PR$2,750
3R 1 Bedroom $2,422.33 PR$2,800
4F 2 Bedroom Duplex Penthouse $3,661.34 PR$4,200
4R 1 Bedroom $2,464.71 PR$2,850
Laundry Additional Income $200 PR$300

Current Monthly Income: $20,383.80
Current Annual Gross Income: $244,605.60

Projected Monthly Income: $23,800
Projected Annual Gross Income: $285,600

Annual Expenses
Expense Annual Amount
Water $3,600
Con Edison $800
Taxes $70,803
Sprinkler Maintenance $3,000
Insurance $6,000

Total Annual Expenses: $84,203
Current NOI: Approximately $160,400
Projected NOI: Approximately $201,400