94-20 Astoria Boulevard, East Elmhurst, NY 11369

• 13,114 sqft

Property Description

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.

Listing Status:

Active

Data Last Updated:

June 25, 2026 at 7:22AM

Listing Office:

Carmela Homes Corp : 718-932-3800

MLS ID:

1000537

Interior

• Basement: PartialUnfinished
• A/C: None
• Heating: Natural Gas

Exterior

• Parking: Alley AccessParking spaces: 12

Location

• Originating MLS: onekey2
• School District: Queens24
• County: Queens

Lot

• Zoning: R6B01374-0007

Utilities

• Utilities: Electricity AvailableSewer AvailableWater Available
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2