Flushing Multifamily Property for
For Sale
$2,350,000
14453 38th Ave, Queens, NY 11354
Eight-unit multifamily property in the heart of Flushing.
Property Size6,212 SF
Days on Market314
Property Features for 14453 38th Ave
General Information
Standard status
Active
Size
6,212 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$49,237
Building Details
Building Size
6,212 SF
Year Built
1971
Units
8
Listed By:
Qiulan Li · License #10401311754
(917) 250-0551
Source:
Elliman
Added: Nov 28, 2025
Changed: Oct 4
Last Checked: Oct 7 at 12:58PM
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 Qiulan Li
Investment Insights
Based on property information with market context.
This semi-detached multifamily property is located in the heart of Flushing. The building contains eight apartments, each featuring one bedroom and a living area. The property includes at least two parking spaces in front. Situated within walking distance of downtown Flushing's Main Street, the property is near the 7 Train and bus lines, providing convenient access to transportation.
Key Highlights
- Prime location in the heart of Flushing.
- 8‑family semi‑detached property.
- Each unit features a spacious one‑bedroom layout with a living area.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$151,849
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,036,980
$3.0M
Cap Rate 7%
$2,169,271
$2.2M
Cap Rate 9%
$1,687,211
$1.7M
Market Conditions
NOI Build-Up for 6,212 SF
Gross rent
$287.0K $46.20/SF
− Vacancy
−$10.9K −$1.76/SF
EGI
$276.1K $44.44/SF
− OpEx
−$124.2K −$20.00/SF
NOI
$151.8K $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 Rate 5%
$3,036,980
Cap Rate 7%
$2,169,271
Cap Rate 9%
$1,687,211
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.90M – $2.53M
NOI $151,849 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.58M
$4.01M – $5.34M
NOI $320,569 @ 7.0% cap · market cap 13.64%
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
6,176
Businesses Nearby
Explore this area
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
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?
Apartment building - Eight-unit multifamily property in the heart of Flushing.
Where is this apartment building located?
The property is located at 14453 38th Ave Queens, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Prime location in the heart of Flushing.; 8‑family semi‑detached property.; Each unit features a spacious one‑bedroom layout with a living area.
