Rent-Stabilized
For Sale
$849,000
102-06 27th Avenue, East Elmhurst, NY 11369
Four registered apartments include a varied unit mix and two residences scheduled to be vacant at closing.
Property Size4,275 SF
Days on Market63
Property Features for 102-06 27th Avenue
General Information
Standard status
Active
Size
4,275 SF
Property subtype
Quadruplex
Units
Unit Mix
1 x 2BR, 2 x 1BR, 1 x 1BR basement
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,337
Building Details
Building Size
4,275 SF
Year Built
1920
Buildings
1
Listing Agency:
Empire Fine Homes
Listed By:
Alejandra J. Fermin CBR
Source:
Barbieliteam
Added: Jun 9
Changed: Aug 5
Last Checked: Aug 10 at 9:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Empire Fine Homes
Investment Insights
Based on property information with market context.
This 1920-built multifamily property contains four apartments registered with DHCR, including one two-bedroom unit, two one-bedroom units, and a legal one-bedroom basement apartment. The property is being sold as-is, with two apartments occupied and two expected to be vacant at closing. Future leasing and rent adjustments remain subject to applicable rent stabilization requirements and buyer due diligence.
Located at 102-06 27th Avenue in East Elmhurst, the property sits on a residential block near shopping, restaurants, schools, public transportation, LaGuardia Airport, major highways, and neighborhood amenities. The four-unit configuration offers an established residential income asset with a mix of occupied and anticipated vacant apartments.
Located at 102-06 27th Avenue in East Elmhurst, the property sits on a residential block near shopping, restaurants, schools, public transportation, LaGuardia Airport, major highways, and neighborhood amenities. The four-unit configuration offers an established residential income asset with a mix of occupied and anticipated vacant apartments.
Key Highlights
- Four apartments registered with DHCR
- Unit mix includes one 2‑bedroom, two 1‑bedroom apartments, and a legal 1‑bedroom basement apartment
- Two units occupied; two units expected vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$70,758
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,415,160
$1.4M
Cap Rate 7%
$1,010,829
$1.0M
Cap Rate 9%
$786,200
$786.2K
Market Conditions
NOI Build-Up for 4,275 SF
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.
Gross rent
$107.7K $25.20/SF
− Vacancy
−$6.6K −$1.55/SF
EGI
$101.1K $23.65/SF
− OpEx
−$30.3K −$7.09/SF
NOI
$70.8K $16.55/SF
Area
Queens County, NY
Vacancy
6.17%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,415,160
Cap Rate 7%
$1,010,829
Cap Rate 9%
$786,200
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.31M – $1.74M
NOI $104,500 @ 7.0% cap · market cap 12.31%
Second Best
Multifamily LT 5
$1.01M
$884.5K – $1.18M
NOI $70,758 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,611 @ 7.0% cap · market cap 25.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,871
Businesses Nearby
Explore this area
Business Placement
Demographics for 11369, NY
40,805
Population
13,893
Households
2.9
Avg Household Size
37
Median Age
24%
College-Educated
79%
High-School Grad
1.1 sq mi
ZIP Area
37,095
Density / Sq Mi
$80,577
Median Household Income
$40,089
Median Earnings
$1,983
Median Rent
$734,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four registered apartments include a varied unit mix and two residences scheduled to be vacant at closing.
Where is this quadplex located?
The property is located at 102-06 27th Avenue East Elmhurst, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Four apartments registered with DHCR; Unit mix includes one 2‑bedroom, two 1‑bedroom apartments, and a legal 1‑bedroom basement apartment; Two units occupied; two units expected vacant at closing
