16-Unit Rent-Stabilized Walk-Up | Asking Price: $4,500,000 | 4.86% Cap Rate Property Overview This is a unique off-market opportunity to acquire a well-maintained, fully occupied 16-unit rent-stabilized building in the heart of Ditmars, Astoria. A rare find, this asset offers both immediate cash flow and long-term value appreciation potential. • Building Size: 9,520 SF on a 4,400 SF lot • Units: 16 rent-stabilized apartments • Occupancy: 100% • Annual Rental Income: $319,509.72 • Net Operating Income (NOI): $218,867.72 • Zoning: R5B Residential District • Real Estate Taxes: $47,142 ($2,946 per unit) Recent Upgrades & Value-Add Potential • Apartment C4 Fully Renovated: Upgraded interior features and modernized finishes. • Superintendent Apartment A1: Currently recorded as temporarily exempt, providing an opportunity for a new lease structure. This apartment is a legal duplex, offering additional space and rental potential. • Major Capital Improvement (MCI) Potential: No prior MCI filings, allowing new ownership to implement upgrades and drive future rent growth. • Individual Apartment Improvement (IAI) Potential: One unit has undergone IAI renovations, leaving 15 additional units with upgrade potential for increased revenue. Prime Astoria Location • Proximity to Transportation: Just 8 blocks from the N Train at Ditmars Blvd, offering a quick commute to Manhattan. • Nearby Attractions: Located 3 blocks from Astoria Park, featuring stunning waterfront views, recreational amenities, and green space. • Vibrant Neighborhood: Astoria offers a diverse mix of restaurants, cafés, and shopping centers, making it a highly desirable residential location. This is an off-market direct sale. Only qualified investors will be considered.