Elmhurst Multifamily Investment
91-16 43RD Ave Queens, NY 11373
91-16 43RD Ave, Queens, NY, 11373
$1,875,000
For Sale
$1,875,000
7-unit multifamily building with commercial space in Elmhurst, Queens.
Property Size6,300 SF
Lot Size0.06 Acres
Price / SF$297.62
Days on Market130
Property Features for 91-16 43RD Ave
General Information
- Standard status
- Active
- Size
- 6,300 SF
- Lot size
- 0.06 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 2002
Listing Agency
Douglas Elliman Real Estate
(914) 661-6005
Listed by
Bruce Friedberg · License #10301221448
(914) 661-6005
Source
Elliman
Added: Mar 11 Checked: Jul 17 at 3:34 am
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This 4-story multifamily building, constructed in 2002, is located in Elmhurst, Queens, and includes one commercial space. The building spans 6,300 square feet and is situated on a 25 ft x 100 ft lot. The building dimensions are 25 ft x 54 ft. The property benefits from a 421a tax abatement. The building is fully occupied. Each unit has separately metered electric and gas, and tenants are responsible for their own utilities. Each unit also features its own independent heating system.
Key Highlights
- High‑yield 7.3% cap rate
- 100% occupied, generating strong rental income
- 421a tax abatement
Local 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 | $291.1k | $46.20 |
| − Vacancy | −$11.1k | −$1.76 |
| EGI | $280.0k | $44.44 |
| − OpEx | −$126.0k | −$20.00 |
| NOI | $154.0k | $24.44 |
6,300 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.20M
$1.93M – $2.57M
NOI $154,000 @ 7.0% cap · market cap 8.21%
Second Best
Mixed Use
$1.16M
$1.01M – $1.35M
NOI $81,081 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$4.64M
$4.06M – $5.42M
NOI $325,110 @ 7.0% cap · market cap 17.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Impacto Satelital FM105.5
Radio Station
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FAQs
What type of property is this?
Apartment building - 7-unit multifamily building with commercial space in Elmhurst, Queens.
Where is this apartment building located?
The property is located at 91-16 43RD Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,875,000.
What are key features of this property?
This property features: High‑yield 7.3% cap rate; 100% occupied, generating strong rental income; 421a tax abatement
