23-12 Broadway

23-12 Broadway | Six-Unit Investment Property in Prime AstoriaA fantastic opportunity to acquire a superbly maintained, semidetached, fully occupied multifamily property in the heart of Astoria’s Broadway corridor. With recent improvements to both the building and apartment interiors, this three-story brick property offers established rental income in an exceptional location.Situated near Broadway and 23rd Street, residents enjoy easy access to supermarkets, fresh produce markets, laundromats, restaurants, cafés, shopping, and neighborhood nightlife. The Broadway N/W subway station is approximately a six-minute walk away. Strong rental demand supports the property’s appeal for long-term ownership.The property encompasses approximately 4,080 square feet on a 20' × 80' lot. Its six rent-stabilized residences consist of (1) spacious studio and (5) one-bedroom apartments, featuring upgraded interiors and an established tenant roster.Building improvements include updated piping, boiler equipment and windows approximately seven years old, renovated common hallways, and roof work and repainting. Additional features include a full basement, a backyard, and gas-fired steam heat.7 separate gas meters, 1 for the owner, 6 for the tenants’ units.A detailed rent roll and income-and-expense statement are available upon request.Property Highlights• Prime location near Broadway and 23rd Street?• Six residential units: one studio and five one-bedroom apartments?• Fully occupied; all apartments rent stabilized• Approximately 4,080 square feet?• Three-story brick construction?• 1,600-square-foot lot; 20' frontage × 80' depth?• Building dimensions: approximately 20' × 68'?• Large basement and backyard?• Substantial building improvements and upgraded apartment interiors?• Annual gross rental income: $166,069.92, with potential for more?• Listed annual operating expenses: approximately $32,503CAP RATE: 7.2%A rare opportunity to secure a generational asset in one of Astoria’s most desirable locations—a property to hold, build equity in, and pass down for years to come.Showings by appointment, with advance coordination to respect tenant occupancy. Serious inquiries only. Proof of funds requested prior to scheduling.