3151 35th St, Astoria, NY 11106

Exceptional opportunity to own a solid 6-family brick building in one of the most desirable and high-demand areas of Astoria, Queens. Ideally situated just off the vibrant corridors of 31st Avenue and Broadway, this well-maintained property offers both immediate income potential and long-term appreciation in a rapidly growing neighborhood. The property features 6 fully occupied 2 bedroom, 1 bathroom apartments that have benefitted from recent upgrades. All of the units are currently under rent stabilization collecting below the legal rents. This offers future upside. Located just steps from shopping, dining, cafes, and nightlife, this property is within walking distance to multiple subway lines (N/W trains), offering easy access to Manhattan and throughout Queens. Strong rental demand, a stable tenant base, and proximity to everything make this an ideal turn-key investment or 1031 exchange candidate. PROPERTY INFORMATION Stories: 3 Year built: 1925 Construction: Masonry Lot size: 25X100 (2,500 SQ ST) Building size: 25X75 (5,025 SQ ST) BBL: 00648-0021 Zoning: R6B Units: 6 Type: Residential Status: Rent Stabilized CURRENT INCOME Monthly Gross: $11,703.84 Annual Gross: $140,446.08 Monthly Net Operating: $7,979.34 Annual Net Operating: $95,752.08 Annual Cap Rate: 5.5%