Long Island City Multi-Unit
For Sale
$1,850,000
Pending
34-33 9 Street, Long Island City, NY 11106
Multi-unit property in Long Island City with upside potential.
Property Size3,600 SF
Days on Market664
Property Features for 34-33 9 Street
General Information
Standard status
Pending
Size
3,600 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$13,254
Building Details
Year Built
1931
Listing Agency:
One Stop Multi Service Inc
(718) 554-0257
Listed By:
Raymond N. Rivera · License #31RI0930921
(347) 645-2005
Source:
Exitrealty
Added: Dec 29, 2024
Changed: Oct 4
Last Checked: Oct 16 at 6:44AM
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 One Stop Multi Service Inc
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Investment Insights
Based on property information with market context.
Located minutes from New York City in Long Island City, this multi-unit property offers suburban tranquility and urban convenience. The property provides easy access to transportation, cultural attractions, and community amenities. This property is an exceptional opportunity for families to enjoy spacious and modern living spaces, along with a full-finished basement and a two-car garage. The property has tenant-paid utilities and low taxes. The property's appearance is good.
Key Highlights
- Prime Location: Minutes from New York City, offering suburban tranquility with urban convenience.
- Multi‑Unit Property: Designed for four families with spacious and modern living spaces.
- Investment Potential: Significant upside potential in a rapidly evolving real estate market.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,000
Cap Rate
4.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,760,000
$1.8M
Cap Rate 7%
$1,257,143
$1.3M
Cap Rate 9%
$977,778
$977.8K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$166.3K $46.20/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$160.0K $44.44/SF
− OpEx
−$72.0K −$20.00/SF
NOI
$88.0K $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%
$1,760,000
Cap Rate 7%
$1,257,143
Cap Rate 9%
$977,778
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,000 @ 7.0% cap · market cap 4.76%
Second Best
Multifamily LT 5
$851.2K
$744.8K – $993.1K
NOI $59,586 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,777 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,646
Businesses Nearby
Explore this area
Business Placement
Demographics for 11106, NY
41,722
Population
21,681
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
46,358
Density / Sq Mi
$85,573
Median Household Income
$62,254
Median Earnings
$2,032
Median Rent
$639,200
Median Home Value
Check the figures for this property
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?
Quadplex - Multi-unit property in Long Island City with upside potential.
Where is this quadplex located?
The property is located at 34-33 9 Street Long Island City, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Prime Location: Minutes from New York City, offering suburban tranquility with urban convenience.; Multi‑Unit Property: Designed for four families with spacious and modern living spaces.; Investment Potential: Significant upside potential in a rapidly evolving real estate market.
