New Listing - 06/08/2026
94-20 Astoria Boulevard, E. Elmhurst, (East Elmhurst), NY, 11369
1963
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.
Status:
Active
Town:
E. Elmhurst
Type:
Commercial
Units:
38
Heating:
Natural Gas
Cooling:
None
Basement:
Partial, Unfinished
Parking:
12-car, Alley Access
Acreage:
0.19
Est. Taxes:
$120,000
Assessment
$991,350
Construction
Brick
Utilities
Electricity Available, Sewer Available, Water Available
Elementary School:
East Elmhurst Community School
Middle School:
Is 145 Joseph Pulitzer
High School:
Newtown High School
School District:
Queens24
Days on Market:
1
MLS #:
1000537
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Carmela Homes Corp 718-932-3800