Updated 7 months ago
Sold
30-22 44th Street
Astoria, Queens | 30th Road & 31st Ave
Multi-Family
$1,320,000
floors / apts3 / 6
Lot Size28'x100'
Built Size28'x68'
ZoneR5
Building TypeHouse
Property Description for 30-22 44th Street
Meticulously Well-Maintained 6-Unit Multifamily in Beautiful Astoria
A premier investment opportunity in the heart of vibrant Astoria! This 6-unit apartment building, located at 30-22 44th Street, Astoria, NY, offers 5,262 square feet of well-maintained residential space, spanning three stories in one of New York City's most desirable neighborhoods. Priced below replacement costs, this property provides a fantastic value for investors seeking a stable asset with significant potential for long-term appreciation.
The property features a gas water boiler system, which runs on water rather than steam, offering a more efficient and environmentally friendly alternative to traditional heating systems. Additionally, there are two rentable storage corridors on each side of the building, each measuring 3.5 feet by 26 feet, providing an extra revenue stream. While no major capital improvements have been made, the property has been kept up to date, with units receiving cosmetic upgrades to maintain appeal.
Property Highlights:
A premier investment opportunity in the heart of vibrant Astoria! This 6-unit apartment building, located at 30-22 44th Street, Astoria, NY, offers 5,262 square feet of well-maintained residential space, spanning three stories in one of New York City's most desirable neighborhoods. Priced below replacement costs, this property provides a fantastic value for investors seeking a stable asset with significant potential for long-term appreciation.
The property features a gas water boiler system, which runs on water rather than steam, offering a more efficient and environmentally friendly alternative to traditional heating systems. Additionally, there are two rentable storage corridors on each side of the building, each measuring 3.5 feet by 26 feet, providing an extra revenue stream. While no major capital improvements have been made, the property has been kept up to date, with units receiving cosmetic upgrades to maintain appeal.
Property Highlights:
- Prime Location: Located at the crossroads of 30th Avenue & 44th Street, this property is surrounded by a mix of popular shops, trendy restaurants, laundromats, churches, and convenient mass transit options. The bustling Steinway Street is just minutes away, offering a variety of services and amenities. Plus, with a quick 20-minute ride to Manhattan, the property is ideally situated for those seeking easy access to the city while enjoying the quieter, more relaxed vibe of Astoria.
- 100% Leased Apartments: With all units fully leased, this property offers immediate cash flow from day one, with the added benefit of strong long-term appreciation potential as the neighborhood continues to evolve.
- Updated Electrical Systems: The building is equipped with modernized electrical infrastructure, including circuit breaker boxes in every apartment, which enhances the property's value and minimizes future maintenance concerns.
- Strong Financials:
- Gross Income: $126,000
- Total Expenses: $41,945.64
- Net Operating Income (NOI): $84,054.36
- Cap Rate: 6.0%
- Stable Asset with Growth Potential: Zoned R5, this property offers ample opportunity for future development or expansion, making it a solid long-term investment in one of Queens' most up-and-coming areas.
- The apartments have maintained for good appeal to current and future tenants.
- The property is equipped with updated security cameras in the hallways and exterior, ensuring safety and peace of mind for both residents and owners..
Listing History for 30-22 44th Street
Now
01/07/2026
$1,320,000
Sold and Closed by Victor Inwang
Corcoran
01/07/2026
Contract Signed by Victor Inwang
Corcoran
Building Details for 30-22 44th Street
OwnershipMulti-Family
Building TypeHouse
AccessWalk-up
Year Built1928
Floors/Apts3/6
Astoria | Queens
Quick Profile
Although Astoria is largely a residential neighborhood, it is filled with unique mom-and-pop shops, trendy boutiques, a plethora of dining options representing cuisines from around the world, and lush green spaces where you can relax, walk along the East River, or just enjoy the Manhattan skyline.
The atmosphere is laid back and almost small-town. In addition to luxury condos, pre-war buildings, single-family and semi-detached brick buildings, you will find low-rise buildings with apartments available at lower rents than are available in nearby Manhattan. If you enjoy shopping, you will find everything from locally handcrafted apparel and decor items to vintage treasures just waiting to be repurposed.
Astoria has long been known as a hub of Greek culture, with a burgeoning Greek community. You can barely walk a block without an opportunity to eat Greek food or experience some aspect of Greek culture. The Italian community is also quite large and well-represented in Astoria. Lately, there has been an influx of immigrants from all corners of the globe, making Astoria truly multicultural, and giving rise to eateries that offer unique gastronomic treats.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 104253TH
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