Terry Gaynor and Beyond Capital have been maintained to represent this immaculately maintained legal 2 family. It is currently occupied with tenants in place. The strong demand for sales and rentals continues to drive the residential market in the Ditmars section of Astoria, offering investors the opportunity to acquire an asset with considerable long-term upside as either a long term rental property or condominium conversion in the coming years.
The property is 2,000 sq ft, containing 3 fully renovated residential units and a bonus owners suite on the ground floor. The first floor apartment is a 2 bed, 2 bath fully renovated unit featuring an amazing Chef's kitchen, with top stainless steel appliances, commercial double fridge, dishwasher, ice-maker, double wall oven, microwave, pantry, washer/dryer, two king size bedrooms, plus an office/guest room. The second floor is a similar 2 bed, 2 bath layout with a recent renovation. Two additional accessory units are located on the ground floor. One is currently being vacated and will be delivered vacant along with the owner's suite at closing. The potential to duplex the basement and the first floor must be consulted with an Architect.
The property is a 25′×100′ lot with R5 zoning with 21ft of frontage. The subject property offers an existing rent roll in place with professionals currently living on a yearly lease with the intent to extend their lease.
Asking Price $1,799,000
Existing NOI $93,700
Block: 795 Lot: 42
Lot Area: 2,500, sq ft (25′×100′)
Year built: 1920
Building frontage: 21'
Taxes $8,900
Insurance $1,800
Water $1,200
Com, Elec $1,200
Annual Income $106,800
