Elmhurst Multifamily Investment
91- 13 43rd Avenue, Queens, NY 11373
7-unit multifamily building with commercial space in Elmhurst, Queens.
Type:Multi Family Townhouse
Property size:
6,300 SFLot size:
0.06 AcresPrice / SF:
$297/SF- Added:
- Mar 13, 2025
- Days on Market:
- 447
- Last Refresh:
- Mar 13 at 6:28 pm
Property Features for 91- 13 43rd Avenue
General Information
- Standard status
- Active
- Size
- 6,300 SF
- Lot size
- 0.06 Acres
- Property subtype
- Multi Family Townhouse
Building Details
- Year Built
- 2002
Listing agent BRUCE D FRIEDBERG License #10301221448 (914) 661-6005
Listing office Douglas Elliman Real Estate (914) 661-6005
Listing date Mar 13, 2025
Source Compass
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
HighLights
- High‑yield investment opportunity with a 7.3% cap rate.
- 100% occupied 7‑unit multifamily building with 1 commercial space.
- Located in the heart of Elmhurst, Queens.
- Benefits from a 421a tax abatement.
- Built in 2002 and well‑maintained.
- Separately metered electric and gas, with tenants paying their own utilities.
Overview
This well-maintained 4-story multifamily building, constructed in 2002, is located in Elmhurst, Queens. The property features 7 residential units and 1 commercial space. The building spans 6,300 square feet and sits 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 its own independent heating system. Tenants are responsible for their own separately metered electric and gas utilities. The property offers a 7.3 cap rate.
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
Retail
$1.61M
$1.41M – $1.87M
NOI $112,455 @ 7.0% cap · market cap 6.00%
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.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.94915
- Latitude
- 40.752652
Nearby Similar for Sale
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- 13 43rd Avenue 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 investment opportunity with a **7.3% cap rate**.; **100% occupied** 7‑unit multifamily building with 1 commercial space.; Located in the heart of Elmhurst, Queens.
