6-Unit Apartment
106-18 Astoria Boulevard, East Elmhurst, NY 11369
For Sale
$2,288,000
All apartments are occupied and operate as free-market rentals.
Property Size4,066 SF
Price / SF$562.72
Days on Market248
Property Features for 106-18 Astoria Boulevard
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Daniel Gale Sothebys Intl Rlty
(718) 762-2268
Listed By:
Hillary Y. Li CBR
(347) 633-4611
Source:
Adamstreetrealty
Added: Mar 6
Changed: Nov 7
Last Checked: Nov 7 at 7:32PM
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 Daniel Gale Sothebys Intl Rlty
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Investment Insights
Based on property information with market context.
Completed in 2021, this 4,066-square-foot apartment property contains six residences: two studios, two one-bedroom apartments, and two two-bedroom apartments. Each one-bedroom and two-bedroom unit has a balcony. All units are occupied and offered as free-market rentals.
Separate boilers, heating systems, electric meters, and gas meters serve each apartment; the owner pays for water. The property is near LaGuardia Airport, the Grand Central Parkway, and the 7 Train, with bus routes also serving the area. Flushing Meadows–Corona Park, Citi Field, restaurants, and shopping are nearby.
Separate boilers, heating systems, electric meters, and gas meters serve each apartment; the owner pays for water. The property is near LaGuardia Airport, the Grand Central Parkway, and the 7 Train, with bus routes also serving the area. Flushing Meadows–Corona Park, Citi Field, restaurants, and shopping are nearby.
Key Highlights
- 4,066‑square‑foot apartment building completed in 2021
- Six units: two studios, two one‑bedroom apartments, and two two‑bedroom apartments
- Balconies in both one‑bedroom and both two‑bedroom units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,391
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,987,820
$2.0M
Cap Rate 7%
$1,419,871
$1.4M
Cap Rate 9%
$1,104,344
$1.1M
Market Conditions
NOI Build-Up for 4,066 SF
Gross rent
$187.8K $46.20/SF
− Vacancy
−$7.1K −$1.76/SF
EGI
$180.7K $44.44/SF
− OpEx
−$81.3K −$20.00/SF
NOI
$99.4K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,987,820
Cap Rate 7%
$1,419,871
Cap Rate 9%
$1,104,344
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.24M – $1.66M
NOI $99,391 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.00M
$2.62M – $3.50M
NOI $209,825 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,915
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
$734,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Queens County, NY
Properties on Market for Apartment buildings in Queens County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - All apartments are occupied and operate as free-market rentals.
Where is this apartment building located?
The property is located at 106-18 Astoria Boulevard East Elmhurst, NY.
What is the asking price?
The asking price for this property is $2,288,000.
What are key features of this property?
This property features: 4,066‑square‑foot apartment building completed in 2021; Six units: two studios, two one‑bedroom apartments, and two two‑bedroom apartments; Balconies in both one‑bedroom and both two‑bedroom units
