Presented by
Katharine Waggoner |
Situated on one of Astoria’s most desirable tree-lined residential blocks, this legal four-family brick building presents a rare opportunity to acquire a substantial income-producing property in the highly sought-after Ditmars section of Astoria, Queens. Widely regarded as one of the neighborhood’s most in-demand residential streets, the block is known for its quiet charm, beautiful homes, and enduring property values. The building spans an impressive 20 x 78, offering generously sized apartments rarely found in comparable Astoria multifamily properties. The structure's greater depth enables spacious layouts and comfortable living areas, creating residences that are highly attractive to tenants and consistently in demand. The property is configured with four residential apartments: • First Floor: One-bedroom apartment and one two-bedroom apartment • Second Floor: One-bedroom apartment and one two-bedroom apartment Each residence benefits from the building’s substantial footprint and functional layout, providing comfortable living spaces with strong long-term rental appeal. The property also features a finished basement, offering additional storage and utility space. The exterior features a classic red brick facade with charming architectural details, complemented by a welcoming stoop. A private gated side driveway provides convenient access to the rear of the property, an increasingly valuable feature in this part of Astoria. Perfectly positioned just moments from the vibrant energy of Ditmars Boulevard, residents enjoy immediate access to Astoria’s renowned restaurants, cafes, boutique shopping, and neighborhood amenities. The property is also located near Astoria Park and the N/W subway lines, offering a quick and convenient commute into Manhattan. With its prime tree-lined setting, oversized apartment layouts, and solid brick construction, this property represents an exceptional opportunity to secure a stable income-producing asset in one of Queens’ most sought-after residential neighborhoods. Property Highlights • Legal Four-Family Brick Building • 20 x 78 Building Size – Rare Deep Layout • Two 1-Bedroom Apartments • Two 2-Bedroom Apartments • Finished Basement • Private Gated Side Driveway • Highly desirable tree-lined Astoria block • Close to Ditmars Boulevard dining, cafes, and shopping • Near N/W subway lines and Astoria Park
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$2,050,000
Sales Associate
William Raveis Real Estate
Phone: 413.563.3673
Katharine.Waggoner@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 413.626.5626
Michele.Welch@raveis.com
NMLS Mortgage Loan Originator ID 293220
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $1,640,000 | $1,640,000 | $1,640,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 6.000% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.069% | 6.110% | 5.932% |
| Monthly Tax Payment | $1,544 | $1,544 | $1,544 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $9,056 | $9,833 | $13,619 |
| Total Monthly Payment | $10,725 | $11,502 | $15,288 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.