Ronald Garafalo - John J Lease Realtors Logo
$5,500,000
( $419.40Per Sq Foot )
 $29,525 est/mo Sourced by Back At You

94-20 Astoria Boulevard,East Elmhurst, NY 11369

East Elmhurst, NY 11369

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Description

Investor Opportunity in the Path of Willets Point Redevelopment38-Unit Multifamily Asset | Strong In-Place Cash Flow | 6% Cap RateR6B / C1-3 Zoning - 9,000 square feet of unused FAR - 38 rent-stabilized studio apartments- 12 income-producing parking spaces- 6% Cap Rate- Approximately 9,000+ SF of unused FAR- Detached building with operational flexibility- Positioned to benefit from the multibillion-dollar Willets Point redevelopment- Rare combination of current yield and future upside Positioned just minutes from the multibillion-dollar Willets Point redevelopment, this property offers investors a rare combination of stable cash flow and long-term upside. Located on Astoria Boulevard, the asset benefits from its proximity to the future soccer stadium, hotel, retail, and mixed-use developments that are transforming the area. Location Highlights - Minutes from the Willets Point redevelopment district- Convenient access to LaGuardia Airport- Served by the Q19, Q49, Q72, and Q47 bus lines- Minutes to the Grand Central Parkway, Long Island Expressway and Cross Island Parkway- A unique opportunity to acquire a cash-flowing multifamily asset with significant appreciation and development potential in one of Queens' fastest-growing corridors, just minutes away from the most exciting thing to happen in Queens since the World's Fair.

Details

MLS #1000537
Listing TypeFor Sale
StyleMulti-Family
Sub-TypeResale
StatusActive
Year1963
Days On Site102
Listing Provided ByCarmela Homes Corp | Carmela Vlacich

Features

SQ Feet13,114
BasementY
Units38
Building(s)1
ZoningR6B
Acreage0.19

Interior

CoolingNone
HeatingNatural Gas

Exterior

Construction MaterialsBrick

Parking

Parking FeaturesAlley Access

Utilities

UtilitiesElectricity Available, Sewer Available, Water Available
SewerPublic Sewer

Taxes

Tax Year2026
Tax Assessed Value991350
Tax Annual Amount120000
Tax Lot0007

Area Information

StateNY
CountyQueens
CityEast Elmhurst
Zip Code11369
School DistrictNewtown High School
Elementary SchoolEast Elmhurst Community School
High SchoolNewtown High School
Listing VS Median (in 11369)
Price:
$5,500,000
low | high
Med:
$949,950
100% of Average
sqft:
13,114
low | high
Med:
1,484
100% of Average
$ / sqft:
$419
low | high
Med:
$644
3.568748358586% of Average
On site:
102
low | high
Med:
47.5
100% of Average
Sourced by Back At You

Market Activity 11369

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Learn More About This Property

Ronald Garafalo

Ronald Garafalo

John J Lease REALTORS

 (845) 283-1279rongarafalo@johnjleaserealtors.com
StateNY
CountyQueens
CityEast Elmhurst
Zip Code11369
School DistrictNewtown High School
Elementary SchoolEast Elmhurst Community School
High SchoolNewtown High School
Listing VS Median (in 11369)
Price:
$5,500,000
low | high
Med:
$949,950
100% of Average
sqft:
13,114
low | high
Med:
1,484
100% of Average
$ / sqft:
$419
low | high
Med:
$644
3.568748358586% of Average
On site:
102
low | high
Med:
47.5
100% of Average
Sourced by Back At You
Listing Updated: September 18, 2026 at 11:08:37 AM PDT

Ronald Garafalo - John J Lease Realtors