23-17 38th Street

Excellent Investment or 1031 Exchange Opportunity! Over a 4% cap rate in growth neighborhood with opportunity to add value. This is a hassle free investment opportunity with tenants already in place and well running property. Being close to the subway as well as some of the most vibrant offerings Astoria has to offer will forever hold your value in the home and allow for increasing rents over time. *Four (4) Unit Building *2 Floors and Basement with laundry and storage *All 4 units have extra high ceilings, eat-in kitchens, tons of windows and natural light!
UNIT 1L: Currently vacant. Potential rent of $3,100. Massive private back yard with patio! Full size stainless steel appliances including dishwasher! UNIT 1R: Tenant in place for $2,450. Super sleek and updated chef's kitchen with high end stove and oven. UNIT 2L: Tenant in place for $2,300. White kitchen with full size appliances including dishwasher. UNIT 2R: Tenant in place for $2,250. White kitchen with full size appliances including dishwasher. BASEMENT: Washer and Dryer, 4 storage rooms for additional income. Tenants control and pay their own electricity and gas individually. PROJECTED NOI: 103K CAP RATE: 4.12 %
*Astoria's most iconic streets (Steinway & Ditmars) just around the corner! *Just a short walk to N/W trains at Astoria Blvd and Ditmars Blvd stations. *Home to some of the best restaurants, cafes and night life, Astoria is the perfect neighborhood for any New Yorker! *Quiet and safe area, yet close to everything.