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94-20 Astoria Blvd #38, East Elmhurst, NY, 11369

0beds
38baths
13,114sqft
$5,500,000
$419price/sqft
$34,811/moest. monthly cost
$1,392,440/yrincome needed

About This Home

Investor Opportunity in the Path of Willets Point Redevelopment 38-Unit Multifamily Asset | Strong In-Place Cash Flow | 6% Cap Rate R6B / 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.

Getting Around

88
WalkingVery Walkable
0
TransitVery Limited Transit
86
BikeVery Bikeable

Schools

6/10
8/10
Is 145 Joseph PulitzerGrades 6-80.9 mi

Construction

Condition

  • Year built: 1963

Type & Style

  • Home type: SingleFamily
  • Property subType: Rental Unit

Interior

Bedrooms & Bathrooms

  • Bathrooms: 38
  • Full bathrooms: 38

Interior Area

  • Total structure area: 13,114
  • Total interior livable area: 13,114 sqft

Property

Details

  • Special condition: Resale

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Heat Wave
    Heat WaveRelatively High
  • Cold Wave
    Cold WaveModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Heat Wave
Cold Wave
Tsunami

FEMA Declared Disasters in Queens County and New York

Flood
Severe Storm
Snowstorm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $27,810$333,720
Home Insurance *$1,397$16,764
Property Taxes $3,437$41,244
Electricity $2,167$26,006
Total$34,811$417,732
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$1,193,520/yr
40% on housing$1,044,330/yr
45% on housing$928,293/yr

New York FAIR Plan Programs

New York Property Insurance Underwriting Association

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 20,669Commercial: 1,556
Total Premiums$32.27M
Total Exposure$7.63B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 2.5%
2.5%
0%30.0%
Electricity Growth Rate10-year average: 7.1%
7.1%
0%15.0%
Property Taxes Growth Rate2-year average: -0.4%
-0.4%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$419This listing

vs Other Active Listings

Avg $/sqft

ZIP 11369$522
Queens County$533

vs Homes Sold Last Month

Median $/sqft

ZIP 11369$576
Queens County$600

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

No zestimate history available

Price History

DateEventPrice
2026-06-08Listed for sale$5,500,000

For Sale by Agent

AgentCarmela Vlacich
BrokerageCarmela Homes Corp.

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