Property Description

PACKAGE DEAL! One Vacant 3 Family, and one Leased 3 Family Grossing over 100k!Highlights:-Two adjacent 3 family buildings (6 total units)-Large apartments (1,000+ SF) with 1.5 bathrooms (Four 4 Bedrooms & Two 3 Bedrooms)-Full basements in both buildings-One fully vacant building - immediate upside-One income-producing building ($105K+ gross)-Rear parking (4-5 spaces)-Rapidly developing location-Walking distance to ferry (Manhattan access)-Close to Costco and major retailExceptional opportunity to acquire two adjacent 3 family buildings offered as a package in a rapidly developing pocket of Astoria. This unique offering provides both strong in place income and significant upside, with multiple investment paths available, ideal for investors seeking flexibility, scalability, and long term growth.Located in a fast growing section of Astoria, the property is within walking distance to the NYC Ferry for convenient Manhattan access and in close proximity to Costco and major retail, further strengthening long term rental demand.This offering stands out for its flexibility and ability to cater to multiple investment strategies. Investors can pursue a long term hold by increasing rents to market levels & creating strong cash flow and future refinance potential. For those seeking a hybrid approach, the asset allows for the option to renovate and sell the vacant property while retaining the income producing building for long term cash flow, effectively reducing basis while maintaining upside. More experienced investors may also explore repositioning strategies, including selling the properties individually after improvements or other value maximizing approaches.With one cash flowing asset and one vacant building, this package naturally reduces risk while preserving upside. The rare combination of immediate income, renovation potential, and multiple exit strategies makes this a highly attractive opportunity in one of Queens' most active and evolving rental markets.

Property Features