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31-23 47th St
Astoria, NY 11103 Downtown Astoria

$5,500,000 USD

Apartments For Sale • 14,680 SF

Property Details

Property Type Apartments
Total Building Size 14,680 SF
Lot Size 0.17 AC
Building Class C
Year Built 1953
Cap Rate 6.98 %
Zoning R5

100 Transit Score

95 Walk Score

                
                    Highlights
                
                                24-unit multifamily building in prime Astoria location with strong rental demand
                            
                                14,680 SF walk-up built in 1953 on a 7,500 SF lot
                            
                                Spacious layouts with hardwood floors, high ceilings, and abundant natural light
                            
                                Excellent access to M/R subway lines and walking distance to Broadway, Newtown Rd, and 30th Ave amenities

Property Flyers

31-23_47thSt_AstoriaBooklet_8.5x11 (1)-compressed

Financial Summary (Proforma)

Net Operating Income: $384,135 USD (2025)

Cap Rate:	6.98 %
Total Expenses:	$173,968 USD

Major Tenants

Tenant	SF Occupied	Lease End Date
Lagua Clothing Inc

Amenities

Air Conditioning

Public Transportation

Commuter Rail	Drive	Walk	Distance
Woodside Station (Babylon Branch - Long Island Rail Road, Far Rockaway Branch - Long Island Rail Road, Hempstead Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, Montauk Branch - Long Island Rail Road, Port Jefferson Branch - Long Island Rail Road, Port Washington Branch - Long Island Rail Road, Ronkonkoma Branch - Long Island Rail Road)	5 min	-	1.4 mi
Hunterspoint Avenue Station (Hempstead Branch - Long Island Rail Road, Oyster Bay Branch - Long Island Rail Road)	9 min	-	2.5 mi
Transit/Subway	Drive	Walk	Distance
46 Street (E - New York MTA Subway (The Subway), M - New York MTA Subway (The Subway), R - New York MTA Subway (The Subway))	1 min	3 min	0.2 mi
Northern Boulevard (E - New York MTA Subway (The Subway), M - New York MTA Subway (The Subway), R - New York MTA Subway (The Subway))	2 min	10 min	0.5 mi
Steinway Street (E - New York MTA Subway (The Subway), G - New York MTA Subway (The Subway), M - New York MTA Subway (The Subway), R - New York MTA Subway (The Subway))	2 min	11 min	0.6 mi
Broadway (N Line) (N - New York MTA Subway (The Subway), Q - New York MTA Subway (The Subway))	4 min	17 min	0.9 mi
30 Avenue (N - New York MTA Subway (The Subway), Q - New York MTA Subway (The Subway))	3 min	17 min	0.9 mi
Airport	Drive	Walk	Distance
LaGuardia	8 min	-	2.7 mi
John F Kennedy International	22 min	-	14.0 mi
Newark Liberty International	33 min	-	19.1 mi

Faisal Gilani 925-285-3075 NY Space Finders

31-23 47th St Astoria, NY 11103 Downtown Astoria