40-09 23rd Avenue, Astoria

$1,199,000

4 Beds
3 Baths
1,530 Sqft
0 Acres
0 Garages

Investor Opportunity – High-Income Legal Two-Family | Prime Astoria- 1031 Exchange Eligible

Turnkey legal two-family property located just two subway stops from Manhattan, in one of NYC’s strongest short-term rental markets.

Both units are currently operating as high-performing short-term rentals, generating consistent income in a high-demand location. Income documentation available upon request for qualified buyers.

The property features two fully renovated two-bedroom apartments, each designed with modern finishes, sun-filled layouts, and strong rental appeal:

First-floor unit with front and rear patios

Second-floor unit with front balcony and private rear terrace

Additional highlights include:
- Gourmet kitchens with Quartz countertops & premium appliances
- Spacious living areas with abundant natural light
- Finished basement with half bath for added flexibility
- Excellent overall condition (recently updated interiors)

Located near Steinway and Ditmars dining, shopping, nightlife, and major transit options—making it highly attractive for both short-term and long-term tenants.

The property is actively operated as a short-term rental with guests in residence. Showings are coordinated following accepted offers. Serious investors are encouraged to review the virtual tour and request financials prior to submitting.

1031 exchange eligible.

A rare opportunity to acquire a cash-flowing asset in a prime Astoria location.

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Essential Information
MLS® #967198
Price$1,199,000
Bedrooms4
Bathrooms3.00
Full Baths3
Square Footage1,530
Year Built1880
TypeResidential Income
Sub-TypeDuplex
StatusPending
Community Information
Address40-09 23rd Avenue
CityAstoria
CountyQueens
StateNY
Zip Code11105
Amenities
AmenitiesPark
ParkingNone
Utilities

Cable Connected, Electricity Connected, Natural Gas Connected, Water Connected

Interior
InteriorHardwood
HeatingBaseboard, Electric
CoolingWall/Window Unit(s)
Has BasementYes
BasementFinished
Interior Features

First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, Entrance Foyer, High Speed Internet, Kitchen Island, Open Floorplan, Open Kitchen, Quartz/Quartzite Counters, Recessed Lighting, Walk-In Closet(s), Washer/Dryer Hookup

Exterior
Exterior FeaturesBalcony, Mailbox
WindowsDouble Pane Windows
ConstructionFrame, Vinyl Siding
Lot Description

Near Public Transit, Near Shops

School Information
DistrictQueens 30
ElementaryPs 84 Steinway
MiddleIs 141 Steinway (The)
HighAcademy Of American Studies
Additional Information
Date ListedMarch 2nd, 2026
Days on Market182
Listing Details
Listing Courtesy ofShabbir Realty Inc
LISTING MAP

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Listing information last updated on September 7th, 2026 at 10:16am CDT.