Four-Family Income
For Sale
$1,798,000
9712 41st Ave, Queens, NY 11368
Four-unit multifamily building with strong walk and transit accessibility scores for tenant convenience.
Property Size2,960 SF
Days on Market90
Property Features for 9712 41st Ave
General Information
Standard status
Active
Size
2,960 SF
Property subtype
Investment
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$15,971
Building Details
Building Size
2,960 SF
Year Built
1931
Units
4
Listing Agency:
Signature Premier Properties
Listed By:
Nina Jean Harris
(516) 824-2474
Source:
Elliman
Added: Jun 12
Changed: Aug 26
Last Checked: Sep 8 at 8:12AM
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 Signature Premier Properties
Investment Insights
Based on property information with market context.
This property is a four-family (quadplex) residential income building offered for sale. It consists of four separate dwelling units within a single multifamily structure.
Located at 9712 41st Ave in Queens, NY 11368, the area is supported by high accessibility metrics, including a Walk Score of 97 and a Transit Score of 88. The property also reflects a Bike Score of 77, indicating the surrounding environment is conducive to non-car trips.
As a four-unit asset, the building may appeal to buyers seeking a smaller-scale multifamily hold with multiple income-producing units. It can also fit an owner-occupant scenario where a buyer lives in one unit while collecting rent from the remaining three. Prospective investors and owner-occupants should review unit-level details and building financials to confirm how the configuration aligns with their operating and occupancy goals.
Located at 9712 41st Ave in Queens, NY 11368, the area is supported by high accessibility metrics, including a Walk Score of 97 and a Transit Score of 88. The property also reflects a Bike Score of 77, indicating the surrounding environment is conducive to non-car trips.
As a four-unit asset, the building may appeal to buyers seeking a smaller-scale multifamily hold with multiple income-producing units. It can also fit an owner-occupant scenario where a buyer lives in one unit while collecting rent from the remaining three. Prospective investors and owner-occupants should review unit-level details and building financials to confirm how the configuration aligns with their operating and occupancy goals.
Key Highlights
- Four‑unit multifamily building
- Built in 1931
- Walk Score of 97 (Walker’s Paradise)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,355
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,447,100
$1.4M
Cap Rate 7%
$1,033,643
$1.0M
Cap Rate 9%
$803,944
$803.9K
Market Conditions
NOI Build-Up for 2,960 SF
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.
Gross rent
$136.8K $46.20/SF
− Vacancy
−$5.2K −$1.76/SF
EGI
$131.6K $44.44/SF
− OpEx
−$59.2K −$20.00/SF
NOI
$72.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,447,100
Cap Rate 7%
$1,033,643
Cap Rate 9%
$803,944
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$904.4K – $1.21M
NOI $72,355 @ 7.0% cap · market cap 4.02%
Second Best
Multifamily LT 5
$699.9K
$612.4K – $816.6K
NOI $48,993 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,750 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
6,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily building with strong walk and transit accessibility scores for tenant convenience.
Where is this quadplex located?
The property is located at 9712 41st Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,798,000.
What are key features of this property?
This property features: Four‑unit multifamily building; Built in 1931; Walk Score of 97 (Walker’s Paradise)
