3801 31st Avenue, Astoria, NY 11103

Property Description

Prime Mixed-Use Investment Opportunity in Astoria, NY Situated on a high-visibility corner lot at 3801 31st Avenue, just off Steinway Street, this remodeled mixed-use elevator building is a rare opportunity in the heart of Astoria. Boasting nine spacious one-bedroom residential units and two generously sized commercial spaces, this C1-3/R6A zoned property offers a perfect blend of residential comfort and commercial appeal. Each unit is thoughtfully designed with central HVAC, tasteful finishes, and modern fittings. The building benefits from exceptional exposure in a densely populated, high-traffic neighborhood, making it an ideal location for both residents and businesses alike. A 421A tax abatement, effective until 2031, significantly reduces tax burdens on the residential units, ensuring strong long-term savings for investors. Additionally, the commercial units benefit from an ICAP tax abatement through 2030, further enhancing profitability. Conveniently located just minutes from the M and R subway lines at Steinway Street and multiple bus routes, the property offers excellent accessibility to Midtown Manhattan and beyond. This turnkey investment presents an unparalleled opportunity in one of Queens’ most sought-after neighborhoods. Don’t miss out on this high-yield asset with unbeatable tax incentives and prime location benefits!