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31-23 47th Street 31-23 47th St 24 Unit Apartment Building $7,677,560 CAD ($319,898 CAD/Unit) 6.98% Cap Rate Astoria, NY 11103
INVESTMENT HIGHLIGHTS
- 24-unit multifamily building in prime Astoria location with strong rental demand
- Spacious layouts with hardwood floors, high ceilings, and abundant natural light
- 14,680 SF walk-up built in 1953 on a 7,500 SF lot
- Excellent access to M/R subway lines and walking distance to Broadway, Newtown Rd, and 30th Ave amenities
EXECUTIVE SUMMARY
31-23 47th Street is a 24-unit multifamily building located in the heart of Astoria, one of Queens’ most vibrant and rapidly growing neighborhoods. Built in 1953, the three-story, 14,680 SF walk-up sits on a 75' × 100' (7,500 SF) lot and offers a stable, income-producing investment with future upside potential. The building features spacious layouts with hardwood floors, high ceilings, and excellent natural light. Residents benefit from a quiet residential block while remaining just steps from the M and R subway lines, providing direct access to Manhattan and the rest of Queens. Broadway, Newtown Road, and 30th Avenue are within walking distance, offering a wide range of dining, shopping, and neighborhood amenities. This is a rare opportunity to acquire a well-maintained, 24-unit asset in a prime Astoria location with strong rental demand and long-term growth prospects.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$779,067
|
$53.07
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$779,067
|
$53.07
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$242,845
|
$16.54
|
| Net Operating Income |
$536,222
|
$36.53
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $779,067 |
| Annual Per SF | $53.07 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $779,067 |
| Annual Per SF | $53.07 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $242,845 |
| Annual Per SF | $16.54 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $536,222 |
| Annual Per SF | $36.53 |
PROPERTY FACTS
| Price | $7,677,560 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $319,898 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.98% | Building Size | 14,680 SF |
| No. Units | 24 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1953 |
| Zoning | R5 - a low-density residential zoning district that allows for a variety of housing options | ||
| Price | $7,677,560 CAD |
| Price Per Unit | $319,898 CAD |
| Sale Type | Investment |
| Cap Rate | 6.98% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 14,680 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1953 |
| Zoning | R5 - a low-density residential zoning district that allows for a variety of housing options |
AMENITIES
UNIT AMENITIES
- Air Conditioning
1 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 00727-0029 | Improvements Assessment | $1,376,559 CAD |
| Land Assessment | $165,207 CAD | Total Assessment | $1,541,766 CAD |
PROPERTY TAXES
Parcel Number
00727-0029
Land Assessment
$165,207 CAD
Improvements Assessment
$1,376,559 CAD
Total Assessment
$1,541,766 CAD
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