3552 Steinway St, Long Island City, NY

Name: 3552 Steinway St, For Sale in Long Island City - Zoocasa
Brand: Mega Homes Realty Inc
SKU: 980250
Price: 5000000 USD

House

For Sale

Listed price in listed location currency (USD).

$5,000,000

000

MLS® 980250

Overview

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage

Taxes $68,816

Days Active 9

Lot Size

Approx. Age 1912

MLS® Number 980250

Property Address: 3552 Steinway St, Long Island City, NY, 11101-1434

Average square foot calculated using Size range provided by listing agent.

Description

Multifamily Investment Offering 35-52 Steinway Street | Astoria, Queens, NY Property Overview---------------------------- Rare opportunity to acquire a 20-unit rent-stabilized multifamily building located on the highly desirable Steinway Street corridor in Astoria, Queens. This income-producing asset offers stable, predictable cash flow in one of New York City’s strongest rental markets. The property consists of 20 residential units, including 15 spacious two-bedroom apartments and 5 additional units with efficient layouts. The asset is well-suited for investors seeking long-term stability with upside potential in a high-demand location. Financial Overview------------------------ Asking Price: $5, 500, 000 Gross Scheduled Income: $404, 040 Operating Expenses: $144, 500 Net Operating Income (NOI): $259, 540 Cap Rate: 5.19% Gross Rent Multiplier (GRM): 13.61 Price Per Unit: $275, 000 Investment Highlights------------------- 20-unit rent-stabilized building Strong, consistent in-place income Majority two-bedroom unit mix Located on a prime commercial corridor High tenant demand and low vacancy area Long-term hold with stable returns Location Overview---------------------Astoria, Queens Positioned in the heart of Astoria along the vibrant Steinway Street corridor, the property benefits from immediate access to a wide range of retail, restaurants, and neighborhood amenities. Astoria is one of Queens’ most desirable residential neighborhoods, known for its diverse dining scene, cultural attractions, and convenient access to public transportation with a short commute to Midtown Manhattan. The area continues to attract steady renter demand, making it a proven and resilient multifamily submarket.

MLS® Number980250

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1912

BasementFinished

DrivewayNone

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Apr 7, 2026List Date

$5,000,000List Price

Map

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