Overview

Motivated Seller! The SELLER IS WILLING TO CARRY PART OF THE MORTGAGE AT A GENEROUS INTEREST RATE. Incredible Opportunity to own this amazing VALUE ADD INCOME Producing Mixed-Use Corner Property. Located in the Heart of Astoria, at a Major Intersection of 30th Avenue & 21st Street. Semi-Detached Brick Property, 4 Free Market Units in total, plus full Basement with Outdoor Space. Great Exposure. Expected Rezoning in the near future will allow new ownership to take advantage of Additional Air Rights with the acquisition of the adjacent lot. Apartments Layout: 1st Floor features Two x 1BR Apartments with Two Separate Private Entrances. Apt# 1F Large 1BR with Backyard Access, Month to Month lease. Apt# 1R Large 1BR which can be converted into a 2BR, Month to Month lease. 2nd Floor features a Huge 3Br Apt, Month to Month lease. Commercial Space: Retail Store has 3 years remaining on the lease. VALUE-ADD OPPORTUNITY All Rents are Under-Market Value. The Seller rarely increased rents over the past decade. Great Opportunity to Increase Rents via Renewing, or Renovate all Residential Units and Develop the Over Sized Fenced Yard into a Common Space to be Utilized by All Tenants. Pro Forma Rents after Renovation: Apt# 1F: $2500. Apt# 1R: $2500. Apt# 2: $3600. Store: $3700. Lot size 27.42ft 100ft. Zoning R5B. Block & Lot 547-1. Floors 2. Total Units 4. Residential Units 3. Commercial Unit 1. Construction Brick. Year Built 1923. Property is occupied and being sold as is. Financials Upon Request.