Income-Producing Multifamily Property in
36-11 Utopia Parkway Flushing, NY 11358
For Sale
$1,499,000
MULTI_FAMILY - Flushing, NY
Property Size4,662 SF
Lot Size0.09 Acres
Price / SF$321.54
Days on Market71
Property Features for 36-11 Utopia Parkway
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 8
- Bathrooms
- 6
- Rooms
- Bedroom 3, Bedroom 8, Bathroom 3, Bedroom 7, Bathroom 5, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 4, Bathroom 6, Bedroom 6, Bedroom 5, Basement, Bedroom 4
- Parking features
- On Street, Driveway
- Basement
- Finished, Full
- Standard status
- Active
- APN
- 05307-0020
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 27485
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Natural Gas
- Cooling system
- Window Unit(s), Wall/Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1975
- Number of units
- 4
- Building materials
- Brick
Listing Agency:
Douglas Elliman Real Estate
(516) 746-0440
Listed By:
James Y. Chung · License #10301214776
(917) 727-5652
Added: May 15
Changed: Jul 17
Last Checked: Jul 24 at 1:06AM
MLS# 1000582
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in Flushing, NY, 36-11 Utopia Parkway is a detached brick building, legally a 2-family home, but currently used and taxed as a 4-family property. Constructed in 1975, this income-producing property provides approximately 4,662 sq. ft. of building space on a 5,153 sq. ft. irregular lot, measuring approximately 85 x 44 IRR. The building itself measures approximately 74 x 21. The second and third floor apartments each feature 3 bedrooms, 2 full bathrooms, a living room, dining room, kitchen, and a private balcony. The first floor apartment includes 1 bedroom, 1 full bathroom, a living room, dining room, and kitchen. The lower level apartment offers 1 bedroom, 1 bathroom, a living room, and a kitchen/dinette area. Additional features include a 1-car attached garage and two long private driveways. The property is fully rented with no leases, and all tenants are currently month-to-month. The property is located a short distance to Auburndale LIRR Station, Northern Boulevard, and Francis Lewis Boulevard, providing easy access to shopping, dining, transportation, and neighborhood amenities. This solid brick property offers strong potential.
Key Highlights
- Detached brick legal 2‑family home built in 1975, currently used and taxed as a 4‑family property
- Approximately 4,662 sq. ft. of building space on a 5,153 sq. ft. irregular lot (approx. 85 x 44 IRR), with approx. 74 x 21 building size
- Fully rented; all tenants are month‑to‑month with no leases currently in place
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $215.4k | $46.20 |
| − Vacancy | −$8.2k | −$1.76 |
| EGI | $207.2k | $44.44 |
| − OpEx | −$93.2k | −$20.00 |
| NOI | $114.0k | $24.44 |
4,662 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.42M – $1.90M
NOI $113,960 @ 7.0% cap · market cap 7.60%
Second Best
Multifamily LT 5
$1.10M
$964.6K – $1.29M
NOI $77,164 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,582 @ 7.0% cap · market cap 16.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Detached, well-kept 4-family property near transportation and amenities.
Where is this quadplex located?
The property is located at 36-11 Utopia Parkway Flushing, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Detached brick legal 2‑family home built in 1975, currently used and taxed as a 4‑family property; Approximately 4,662 sq. ft. of building space on a 5,153 sq. ft. irregular lot (approx. 85 x 44 IRR), with approx. 74 x 21 building size; Fully rented; all tenants are month‑to‑month with no leases currently in place
