Four-Family Corner
For Sale
$849,000
Pending
102-06 27th Ave, Queens, NY 11369
Rent-stabilized four-unit building with DHCR registration and a mix of one- and two-bedroom layouts.
Property Size4,275 SF
Days on Market110
Property Features for 102-06 27th Ave
General Information
Standard status
Pending
Size
4,275 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,337
Building Details
Building Size
4,275 SF
Year Built
1920
Units
4
Listing Agency:
Empire Fine Homes
Listed By:
Alejandra J. Fermin CBR · License #10311205596
(917) 554-0546
Source:
Elliman
Added: Jun 21
Changed: Oct 1
Last Checked: Oct 7 at 2:17PM
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 Empire Fine Homes
Investment Insights
Based on property information with market context.
This four-family, corner residential property contains four registered apartments with DHCR. The unit mix includes one 2-bedroom apartment, two 1-bedroom apartments, and a legal 1-bedroom basement apartment. Two units are currently occupied, and two units are expected to be vacant at closing, supporting immediate occupancy post-close while subject to rent stabilization requirements. The property is being sold as-is.
Located in East Elmhurst in Queens, the building sits on a residential block near everyday conveniences. Public remarks note proximity to shopping, restaurants, schools, and public transportation, as well as access to LaGuardia Airport and major highways.
For investors or owner-operators seeking a small multifamily asset with DHCR registration, the existing apartment configuration and corner layout provide a straightforward structure to manage within rent stabilization parameters. Buyers should conduct their own due diligence regarding rent stabilization status, legal rents, and any applicable future rental increases, as directed in the offering materials.
Located in East Elmhurst in Queens, the building sits on a residential block near everyday conveniences. Public remarks note proximity to shopping, restaurants, schools, and public transportation, as well as access to LaGuardia Airport and major highways.
For investors or owner-operators seeking a small multifamily asset with DHCR registration, the existing apartment configuration and corner layout provide a straightforward structure to manage within rent stabilization parameters. Buyers should conduct their own due diligence regarding rent stabilization status, legal rents, and any applicable future rental increases, as directed in the offering materials.
Key Highlights
- Four‑unit corner building built in 1920 with DHCR‑registered apartments.
- Unit mix includes one 2‑bedroom, two 1‑bedroom units, and a legal 1‑bedroom basement apartment.
- Two units currently occupied; two units will be vacant at closing.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,758
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,415,160
$1.4M
Cap Rate 7%
$1,010,829
$1.0M
Cap Rate 9%
$786,200
$786.2K
Market Conditions
NOI Build-Up for 4,275 SF
Gross rent
$107.7K $25.20/SF
− Vacancy
−$6.6K −$1.55/SF
EGI
$101.1K $23.65/SF
− OpEx
−$30.3K −$7.09/SF
NOI
$70.8K $16.55/SF
Area
Queens County, NY
Vacancy
6.17%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,415,160
Cap Rate 7%
$1,010,829
Cap Rate 9%
$786,200
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.31M – $1.74M
NOI $104,500 @ 7.0% cap · market cap 12.31%
Second Best
Multifamily LT 5
$1.01M
$884.5K – $1.18M
NOI $70,758 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,611 @ 7.0% cap · market cap 25.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,849
Businesses Nearby
Explore this area
Business Placement
Demographics for 11369, NY
40,805
Population
13,893
Households
2.9
Avg Household Size
37
Median Age
24%
College-Educated
79%
High-School Grad
1.1 sq mi
ZIP Area
37,095
Density / Sq Mi
$80,577
Median Household Income
$40,089
Median Earnings
$1,983
Median Rent
$734,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Rent-stabilized four-unit building with DHCR registration and a mix of one- and two-bedroom layouts.
Where is this quadplex located?
The property is located at 102-06 27th Ave Queens, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Four‑unit corner building built in 1920 with DHCR‑registered apartments.; Unit mix includes one 2‑bedroom, two 1‑bedroom units, and a legal 1‑bedroom basement apartment.; Two units currently occupied; two units will be vacant at closing.
