8-Unit Apartment
New
For Sale
$1,948,000
132-18 57th Road, Flushing, NY 11355
MULTI_FAMILY - Flushing, NY
Property Size5,280 SF
Lot Size0.09 Acres
Price / SF$368.94
Days on Market4
Property Features for 132-18 57th Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4-1
Rooms
Basement
Parking features
Off Street, Driveway
Elementary school
Ps 120
Middle school
Is 237
High school
John Bowne High School
Elementary school district
Queens 25
Middle school district
Queens 25
High school district
Queens 25
Directions
Please refer to Google Maps
Standard status
Active
APN
06359-0008
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
40302
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Cooling system
Wall/Window Unit(s), Multi Units, Window Unit(s)
Water source
Public
Building Details
Year built
1986
Floors in Building
4
Number of units
8
Building materials
Brick
Listing Agency:
Skylux Realty Inc
(718) 500-2231
Listed By:
Fei Guo · License #10401366341
(516) 587-9113
Added: Aug 6
Changed: Aug 7
Last Checked: Aug 9 at 5:06PM
MLS# 1034297
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick, eight-unit apartment building contains seven one-bedroom, one-bath apartments and one studio. The property includes a high basement, individual boilers and separate gas meters for each apartment, with tenants responsible for their own utilities. Heating is provided by natural gas and hot water systems, while cooling is handled through wall or window units. Off-street parking and a driveway are included, along with public water and sewer service. The building was constructed in 1986 and is situated on a 0.0918-acre lot measuring 40 by 100 feet. R4-1 zoning applies.
The property is near Downtown Flushing, shopping, restaurants, banks, SkyFoods Supermarket, Queens Botanical Garden, and Kissena Park. Transportation access includes the 7 train, Murray Hill LIRR Station, Q25, Q34, Q44 SBS, Q65 bus lines, and the Long Island Expressway, I-495. The property is also identified as suitable for a 1031 exchange.
The property is near Downtown Flushing, shopping, restaurants, banks, SkyFoods Supermarket, Queens Botanical Garden, and Kissena Park. Transportation access includes the 7 train, Murray Hill LIRR Station, Q25, Q34, Q44 SBS, Q65 bus lines, and the Long Island Expressway, I-495. The property is also identified as suitable for a 1031 exchange.
Key Highlights
- Eight‑unit free‑market multifamily building with seven 1‑bedroom/1‑bath apartments and one studio
- 0.0918‑acre lot measuring 40x100; brick building constructed in 1986
- Each apartment has a separate boiler and gas meter; tenants pay their own utilities
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
$129,067
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
6.63%
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%
$2,581,340
$2.6M
Cap Rate 7%
$1,843,814
$1.8M
Cap Rate 9%
$1,434,078
$1.4M
Market Conditions
NOI Build-Up for 5,280 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
$243.9K $46.20/SF
− Vacancy
−$9.3K −$1.76/SF
EGI
$234.7K $44.44/SF
− OpEx
−$105.6K −$20.00/SF
NOI
$129.1K $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%
$2,581,340
Cap Rate 7%
$1,843,814
Cap Rate 9%
$1,434,078
Alternative Uses
Best Use
Apartment 5plus
$1.84M
$1.61M – $2.15M
NOI $129,067 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.89M
$3.41M – $4.54M
NOI $272,473 @ 7.0% cap · market cap 13.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,670
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Free-market apartments include separate boilers and gas meters for each residence.
Where is this apartment building located?
The property is located at 132-18 57th Road Flushing, NY.
What is the asking price?
The asking price for this property is $1,948,000.
What are key features of this property?
This property features: Eight‑unit free‑market multifamily building with seven 1‑bedroom/1‑bath apartments and one studio; 0.0918‑acre lot measuring 40x100; brick building constructed in 1986; Each apartment has a separate boiler and gas meter; tenants pay their own utilities
