3051 14th St, Astoria, NY, 11102

About This Home

Welcome to 30-51 14th street, Exceptional 5-Family Investment Opportunity with Double Parking Garage in Prime Astoria. Presenting a well-maintained, free-market 5-family building with a rare double parking garage and finished basement, ideally located in the heart of Astoria, one of Queens’ most vibrant and rapidly appreciating neighborhoods. Built in 1990, this solid brick property sits on a 25' x 95' lot, with a 25-foot wide structure offering smart layouts and dependable construction. The building generates a strong gross annual income of $136,500, with significant upside. All five apartments are spacious one-bedroom units, each approximately 600 sq ft, and include private balconies, providing sought-after outdoor space. The ground-floor unit features a large private backyard, ideal for added tenant appeal or potential owner occupancy. The building is in excellent physical condition, with minimal deferred maintenance. Most importantly for investors, this is a free-market property, none of the units are rent-stabilized, and none of the tenants have leases, allowing for immediate rental adjustments or upgrades. Current average rents are $2,055/month, which remain well below market rates for the area, giving buyers the opportunity to increase returns significantly. The inclusion of a double parking garage is a rare and highly valuable amenity in Astoria, greatly enhancing the property's appeal and income potential. This added convenience is especially attractive in a neighborhood where parking is limited. Astoria remains one of New York City's most desirable rental markets, thriving restaurant and nightlife scene, beautiful waterfront parks, and unbeatable access to Manhattan via multiple subway lines and major roadways. With its combination of strong in-place income, future upside, outdoor space, and private parking, this property represents a rare opportunity to secure a high-performing, flexible asset in a top-tier location.