3552 Steinway ST, Long Island City, NY 11101
3552 Steinway ST, Long Island City, NY 11101
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$5,000,000
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4,499 Sqft Lot
Price Dropped by $500K

3552 Steinway ST Long Island City, NY 11101

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Jose Agudo

Jose Agudo

+1(917) 674-8131

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 980250

Rental Info No

Year Built 1912

Annual Tax Amount $68,815

Lot Size 4,499 Sqft

Acres 0.1033

Property Sub-Type Multi Family

Source onekey2

Property Description

Multifamily Investment Offering
35-52 Steinway Street | Astoria, Queens, NY
Property Overview----------------------------
Rare opportunity to acquire a 20-unit rent-stabilized multifamily building located on the highly desirable Steinway Street corridor in Astoria, Queens. This income-producing asset offers stable, predictable cash flow in one of New York City's strongest rental markets.
The property consists of 20 residential units, including 15 spacious two-bedroom apartments and 5 additional units with efficient layouts. The asset is well-suited for investors seeking long-term stability with upside potential in a high-demand location.
Financial Overview------------------------
Asking Price: $5,500,000
Gross Scheduled Income: $404,040
Operating Expenses: $144,500
Net Operating Income (NOI): $259,540
Cap Rate: 5.19%
Gross Rent Multiplier (GRM): 13.61
Price Per Unit: $275,000
Investment Highlights-------------------
20-unit rent-stabilized building
Strong, consistent in-place income
Majority two-bedroom unit mix
Located on a prime commercial corridor
High tenant demand and low vacancy area
Long-term hold with stable returns
Location Overview---------------------Astoria, Queens
Positioned in the heart of Astoria along the vibrant Steinway Street corridor, the property benefits from immediate access to a wide range of retail, restaurants, and neighborhood amenities.
Astoria is one of Queens' most desirable residential neighborhoods, known for its diverse dining scene, cultural attractions, and convenient access to public transportation with a short commute to Midtown Manhattan. The area continues to attract steady renter demand, making it a proven and resilient multifamily submarket.

Location

State NY

County Queens

Rooms

Basement Finished

Interior

Heating Radiant

Cooling Multi Units, Wall/Window Unit(s)

Fireplace No

Exterior

Parking Features None

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Trash Collection Public, Water Connected

Building

Story 4

Sewer Public Sewer

Water Public

Structure Type Brick

Schools

Elementary Schools Ps 166 Henry Gradstein

Middle Schools Is 141 Steinway (The)

High Schools Queens 30

School District Queens 30

Others

Special Listing Condition None

OneKey MLS/ Hudson Gateway (HGAR)/ Long Island MLS (MLSLI)/ Mid Hudson MLS
Listed by Mega Homes Realty Inc • Sheetal Suryawanshi

NEARBY SCHOOL & BUSINESS

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Jose Agudo

Jose Agudo

Agent

+1(917) 674-8131

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3552 Steinway ST

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