3086 31st St, Astoria, NY 11102

PICTURES & FLOOR PLANS COMING SOON! We are excited to present this incredible opportunity to own a meticulously maintained, legal 5-family brick building located in a prime location on 31st Street just off of 30th Avenue. The building was constructed in 1991, featuring 5 units, all of which pay their own utilities. All of the units are in great condition collecting below market rents, offering an investor potential upside without any factored expense. Additionally, one apartment can be delivered vacant, providing flexibility for new market rate tenants or owner-occupant. The property includes a finished basement and a convenient laundry facility on-site for all residents. The property also benefits from unused air rights which allow for additional future development to expand the building square footage. Building Description Units:5 Year Build: 1991 Lot Size: 25.02 x 80.83 = 2004 Sq Ft Building Size: 25 x 45.3 = 3750 Sq Ft BBL: 00591-0015 Zoning: C4-3 Unused FAR: 3,066 Current Rent Roll(Current) Apt#1R 1 Bedroom $2800 Apt#2F 1 Bedroom Vacant Apt#2R 1 Bedroom $2050 Apt#3F 1 Bedroom $2000 Apt#3R 1 Bedroom $2000 Garage: Vacant Monthly Rent Roll: $8,850 Annual Rent Roll: $106,200 Net Operating Income: $56,686 Proforma Rent Roll (Market) APT#1 1 Bedroom $3000 Apt#2F 1 Bedroom $2450 Apt#2F 1 Bedroom $2500 Apt#3F 1 Bedroom $2400 Apt#3R 1 Bedroom $2500 Garage: $600 Monthly Rent Roll: $13,450 Annual Rent Roll: $161,400 Net Operating Income: $111,886 Property Taxes: $38,264 Insurance: $3,400 Electric: $2,450 Water/Sewer: $3,400 Garbage/Janitorial: $2,000 Total Annual Expenses: $49,514