Rented Residential Income
For Sale
$339,000
13870 Elder Avenue Ave 1st floor unit, Queens, NY 11355
First-floor income unit is currently rented, and the buyer must assume the existing tenant.
Property Size750 SF
Price / SF$452
Days on Market44
Property Features for 13870 Elder Avenue Ave 1st floor unit
General Information
Standard status
Active
Size
750 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Business Included
Yes
Building Details
Year Built
1963
Listing Agency:
Forward NY Real Estate Corporation
(917) 379-4333
Listed By:
Faye Young
(917) 379-4333
Source:
Elliman
Added: Jun 17
Changed: Jul 10
Last Checked: Jul 30 at 5:35AM
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 Forward NY Real Estate Corporation
Investment Insights
Based on property information with market context.
This property is an income-producing residential unit that is currently rented. The offering is for a first-floor unit with approximately 750 square feet. The seller’s remarks note that the buyer needs to take the tenant, making tenant assumption a key part of the transaction.
The unit is located in Queens, New York at 13870 Elder Avenue. The provided mobility scores indicate a strong pedestrian and transit environment, with a WalkScore of 96 and a TransitScore of 100. BikeScore is listed as 64, described as bikeable.
For buyers or investors seeking a residential income property with an occupied unit, this structure can be workable given the clear tenant-assumption requirement. Since the unit is already rented, prospective buyers can focus their review on the terms associated with taking the existing tenant, along with the unit’s condition and suitability for continued residential use. The combination of a first-floor layout and a small, defined footprint may appeal to operators looking to maintain a stable, tenant-occupied asset in a transit- and walk-accessible area.
The unit is located in Queens, New York at 13870 Elder Avenue. The provided mobility scores indicate a strong pedestrian and transit environment, with a WalkScore of 96 and a TransitScore of 100. BikeScore is listed as 64, described as bikeable.
For buyers or investors seeking a residential income property with an occupied unit, this structure can be workable given the clear tenant-assumption requirement. Since the unit is already rented, prospective buyers can focus their review on the terms associated with taking the existing tenant, along with the unit’s condition and suitability for continued residential use. The combination of a first-floor layout and a small, defined footprint may appeal to operators looking to maintain a stable, tenant-occupied asset in a transit- and walk-accessible area.
Key Highlights
- First‑floor income unit is currently rented and buyer must assume the existing tenant
- Approx. 750 sq ft unit
- BikeScore 64, Bikeable
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 | $34.7k | $46.20 |
| − Vacancy | −$1.3k | −$1.76 |
| EGI | $33.3k | $44.44 |
| − OpEx | −$15.0k | −$20.00 |
| NOI | $18.3k | $24.44 |
750 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$261.9K
$229.2K – $305.6K
NOI $18,333 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$552.9K
$483.8K – $645.1K
NOI $38,704 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,297
Businesses Nearby
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Queens, NY
Properties on Market for Residential income properties in Queens
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor income unit is currently rented, and the buyer must assume the existing tenant.
Where is this residential income property located?
The property is located at 13870 Elder Avenue Ave 1st floor unit Queens, NY.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: First‑floor income unit is currently rented and buyer must assume the existing tenant; Approx. 750 sq ft unit; BikeScore 64, Bikeable
