2219 Steinway StAstoria, NY 11105

Property Details for 2219 Steinway St

Year built

1900

Lot size

0.06 AC

Property size (Sq ft)

4,500 SF

Zone code

R5D

Property type

Apartment buildings

APN

00795-0025

APU

7950025

Description

This exceptional six-unit multi-family property is situated in the desirable Ditmars and Steinway area of Astoria, New York. The building boasts a total of 4,500 square feet and sits on a 0.06-acre lot. The property features four two-bedroom, one-bathroom units, strategically arranged with two units per floor. A single one-bedroom unit is located on the first floor, offering a diverse rental mix. Recent renovations have significantly enhanced the property's value and appeal. These improvements include a brand new roof, a completely replaced boiler and hot water heater, ensuring efficient and reliable operation. Furthermore, the installation of new gas meters and individual gas lines for each unit provides tenants with independent utility control and reduces operational complexities. The third-floor unit has been recently updated with fresh paint and modern enhancements, showcasing a commitment to maintaining high-quality living spaces. This property presents a compelling investment opportunity, ideally positioned within easy reach of public transportation, parks, shopping centers, and schools. The combination of its prime location, recent upgrades, and strong rental potential makes this a highly attractive investment in the thriving Astoria real estate market. The asking price is $1,700,000.

• CAP approach

  CAP return

  Valuation

  6%

  $922,541

  6.5%

  $851,576

  7%

  $790,749

• Comparable approach

  Method

  Valuation

  Relative Method

  $911,354

  Geo Method

  $911,354

• Alternative Use

  Use

  Valuation

  Residential

  $851,576

  Hospitality

  $780,039

  Educational

  $648,983

  Medical

  $671,303

  Retail

  $1,009,530

Location Insight

City

Long Island City

County

Queens

State

New York

Latitude

40.7722

Longitude

-73.9064

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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