Six-Family Apartment
For Sale
$1,995,000
11-46 Welling Court, Queens, NY 11102
Commercial Sale, Queens, NY
Property Size4,425 SF
Price / SF$450.85
Days on Market52
Property Features for 11-46 Welling Court
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 8, Bedroom 1, Bedroom 6, Bathroom 6, Bathroom 3, Bedroom 7, Bedroom 4, Bedroom 2, Bedroom 9, Bedroom 10, Bathroom 1, Bathroom 2, Bathroom 5, Bedroom 11, Bedroom 5, Bedroom 3, Bathroom 4
Subdivision
Astoria
High school district
000000
Standard status
Active
Size
4,425 SF
Amenities
private balconies
hardwood floors
extra storage
updated intercom systems
Building Details
Architectural style
Other
Listing Agency:
Compass
(646) 982-0353
Listed By:
Marc Dimov
(516) 728-6521
Added: Aug 25
Changed: Oct 15
Last Checked: Oct 15 at 7:06PM
MLS# 11954774
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This legal six-family apartment building at 11-46 Welling Court contains 4,425 square feet and was built in 1990. The property has operated as a free-market building since construction, with no history of rent stabilization. Renovated residences include hardwood flooring, updated intercom systems, stainless steel kitchen appliances, tile backsplashes, cabinetry, quartz-topped islands, coat closets, and additional storage. Select bedrooms connect to private balconies, while two residences offer open living and kitchen arrangements. Two driveway parking spaces are included, and two units can be delivered vacant.
An underused basement provides a documented opportunity for conversion into storage rooms or for duplexing with first-floor apartments. The property is near the Astoria waterfront and NYC Ferry, with access to Manhattan, Roosevelt Island, Long Island City, and Brooklyn. Astoria Park, Socrates Sculpture Park, The Noguchi Museum, local restaurants, cafés, shops, nightlife, and N/W subway service are also nearby.
An underused basement provides a documented opportunity for conversion into storage rooms or for duplexing with first-floor apartments. The property is near the Astoria waterfront and NYC Ferry, with access to Manhattan, Roosevelt Island, Long Island City, and Brooklyn. Astoria Park, Socrates Sculpture Park, The Noguchi Museum, local restaurants, cafés, shops, nightlife, and N/W subway service are also nearby.
Key Highlights
- Legal six‑family building with 4,425 square feet, built in 1990
- Free‑market operation since construction with no history of rent stabilization
- Two driveway parking spaces included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,167
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,163,340
$2.2M
Cap Rate 7%
$1,545,243
$1.5M
Cap Rate 9%
$1,201,856
$1.2M
Market Conditions
NOI Build-Up for 4,425 SF
Gross rent
$204.4K $46.20/SF
− Vacancy
−$7.8K −$1.76/SF
EGI
$196.7K $44.44/SF
− OpEx
−$88.5K −$20.00/SF
NOI
$108.2K $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%
$2,163,340
Cap Rate 7%
$1,545,243
Cap Rate 9%
$1,201,856
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.35M – $1.80M
NOI $108,167 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.26M
$2.85M – $3.81M
NOI $228,351 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,397
Businesses Nearby
Explore this area
Business Placement
Demographics for 11102, NY
37,468
Population
19,431
Households
1.9
Avg Household Size
36
Median Age
58%
College-Educated
90%
High-School Grad
0.7 sq mi
ZIP Area
53,526
Density / Sq Mi
$102,996
Median Household Income
$70,557
Median Earnings
$2,248
Median Rent
$779,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated residences feature private balconies, updated kitchens, and two driveway parking spaces.
Where is this apartment building located?
The property is located at 11-46 Welling Court Queens, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Legal six‑family building with 4,425 square feet, built in 1990; Free‑market operation since construction with no history of rent stabilization; Two driveway parking spaces included
