This exceptional Class A, two-unit apartment building presents a compelling investment opportunity in the highly desirable Astoria, Queens neighborhood. Located at 22-09 48th Street, this meticulously maintained property boasts a total of 1,880 square feet of net rentable space, situated on a 2,241 square foot lot. Built in 1960 and extensively renovated in 2020, the building is in move-in condition. The property features two apartments: a two-bedroom, 1.5-bathroom unit on the first floor with a modern open-concept kitchen and spacious rooms; and a three-bedroom, 1.5-bathroom unit on the upper floor, showcasing an open layout, large windows, stainless steel appliances, granite countertops, and abundant cabinet space. A fully finished basement provides additional space, a separate entrance, and parking for two cars, complemented by a detached garage. The property is zoned R4, offering potential for future development or expansion. With an asking price of $1,560,000, this represents a strong value proposition at $780,000 per unit in this prime location. This is a rare opportunity to acquire a turnkey investment property in a thriving market. The building's recent renovations, desirable features, and prime location make it an ideal investment for both seasoned and first-time investors seeking a high-return, low-maintenance property.
Highlights
$1,560,000 asking price for this Class A, Core investment opportunity.
Astoria, Queens, NY multifamily property located at 22-09 48th St, zip code 11105.
Two-unit apartment building, totaling 1,880 square feet of net rentable space, built in 1960 and renovated in 2020.
Features a two-bedroom, 1.5-bathroom unit and a three-bedroom, 1.5-bathroom unit, both with modern kitchens and open floor plans.
Includes a finished basement with a separate entrance, detached garage, and parking for two cars.
Property Details
for 22-09 48Th St
Property type
Apartment buildings
Class
A
Year Built/Renovated
1960/2020
Buildings
1
Stories
2
Units
2
Location Insight
City
Queens
County
Queens
State
New York
Latitude
40.7689197
Longitude
-73.9012037
22-09 48Th St, Queens, New York
Nearby Similar for Sale
For Sale
$6,800,000
Rockaway Beach Mixed-Use Building
Prime Queens location, high occupancy, value-add potential.
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Contacts
Romero Papp
Visit Broker Website
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Useful Information
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22-09 48Th St, Queens, New York, 11105
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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22-09 48Th St
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