Three-Unit Multifamily
140-50 34th Avenue, Flushing, NY 11354
For Sale
New
$1,988,000
Pending
The vacant ground-floor apartment opens directly onto a private garden.
Property Size2,292 SF
Days on Market3
Property Features for 140-50 34th Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
private garden
front-facing terraces
full basement
Full
6
No
Yes
8
Eat-in Kitchen,Master Downstairs
Public
2
Driveway
Building Details
Year Built
Buildings
Listing Agency:
(914) 788-6339
Listed By:
Emmanuel Faure
(917) 750-0466
Source:
Schunkrealtygroup
Added: Nov 7
Changed: Nov 9
Last Checked: Nov 8 at 4:17PM
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 Emmanuel Faure
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Investment Insights
Based on property information with market context.
This 1975 multifamily property contains three apartments and a full basement. The ground-floor unit has two bedrooms, one and a half bathrooms, and direct access to a private garden; it is vacant. Each of the two upper-floor apartments has three bedrooms, one and a half bathrooms, and a front terrace.
Separate electric meters serve each apartment, and each unit has its own thermostat. The property is in Flushing, near shopping, restaurants, schools, parks, and public transportation.
Separate electric meters serve each apartment, and each unit has its own thermostat. The property is in Flushing, near shopping, restaurants, schools, parks, and public transportation.
Key Highlights
- Three apartments: one two‑bedroom unit and two three‑bedroom units
- Vacant ground‑floor apartment with 2 bedrooms, 1.5 baths, and private garden access
- Both upper‑floor apartments have 3 bedrooms, 1.5 baths, and front terraces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,637
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,740
$1.1M
Cap Rate 7%
$809,100
$809.1K
Cap Rate 9%
$629,300
$629.3K
Market Conditions
NOI Build-Up for 2,292 SF
Gross rent
$88.0K $38.40/SF
− Vacancy
−$7.1K −$3.10/SF
EGI
$80.9K $35.30/SF
− OpEx
−$24.3K −$10.59/SF
NOI
$56.6K $24.71/SF
Area
Queens County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,132,740
Cap Rate 7%
$809,100
Cap Rate 9%
$629,300
Alternative Uses
Best Use
Multifamily LT 5
$809.1K
$708.0K – $944.0K
NOI $56,637 @ 7.0% cap · market cap 2.85%
Second Best
Apartment 5plus
$800.4K
$700.3K – $933.8K
NOI $56,027 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,278 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,150
Businesses Nearby
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Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Triplexes in Flushing
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The vacant ground-floor apartment opens directly onto a private garden.
Where is this triplex located?
The property is located at 140-50 34th Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $1,988,000.
What are key features of this property?
This property features: Three apartments: one two‑bedroom unit and two three‑bedroom units; Vacant ground‑floor apartment with 2 bedrooms, 1.5 baths, and private garden access; Both upper‑floor apartments have 3 bedrooms, 1.5 baths, and front terraces
