10-Unit Apartment
New
For Sale
$5,500,000
170-14 89th Avenue, Jamaica, NY 11432
A 2019 multifamily property combines varied one-bedroom layouts with a long-term tax abatement.
Property Size9,202 SF
Days on Market6
Property Features for 170-14 89th Avenue
General Information
Standard status
Active
Size
9,202 SF
Property subtype
Multi Family
Units
Unit Mix
3 x 1BR duplex w/ additional room/1BA, 7 x 1BR/1BA
Multifamily Units
10
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,911
Building Details
Building Size
9,202 SF
Year Built
2019
Buildings
1
Listing Agency:
E Realty International Corp
Listed By:
Liang Liu
(347) 888-3333
Source:
Bagshawre
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 26 at 12:40PM
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 E Realty International Corp
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Investment Insights
Based on property information with market context.
Completed in 2019, this 10-unit apartment building contains three one-bedroom duplex apartments, each with an additional room and one bathroom, alongside seven one-bedroom, one-bathroom apartments. The property has approximately 31 years remaining on a 35-year tax abatement. The landlord covers water; tenants pay for electricity, hot water, heating, and cooling.
The building is at 170-14 89th Avenue in Jamaica, two blocks from Hillside Avenue and about a three-minute walk from the subway.
The building is at 170-14 89th Avenue in Jamaica, two blocks from Hillside Avenue and about a three-minute walk from the subway.
Key Highlights
- 10 apartments in a mix of three duplex and seven standard one‑bedroom layouts
- Three duplex units each include an additional room and one bathroom
- Approximately 31 years remain on a 35‑year tax abatement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$224,938
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,498,760
$4.5M
Cap Rate 7%
$3,213,400
$3.2M
Cap Rate 9%
$2,499,311
$2.5M
Market Conditions
NOI Build-Up for 9,202 SF
Gross rent
$425.1K $46.20/SF
− Vacancy
−$16.2K −$1.76/SF
EGI
$409.0K $44.44/SF
− OpEx
−$184.0K −$20.00/SF
NOI
$224.9K $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%
$4,498,760
Cap Rate 7%
$3,213,400
Cap Rate 9%
$2,499,311
Alternative Uses
Best Use
Apartment 5plus
$3.21M
$2.81M – $3.75M
NOI $224,938 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.78M
$5.94M – $7.91M
NOI $474,867 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
2,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A 2019 multifamily property combines varied one-bedroom layouts with a long-term tax abatement.
Where is this apartment building located?
The property is located at 170-14 89th Avenue Jamaica, NY.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 10 apartments in a mix of three duplex and seven standard one‑bedroom layouts; Three duplex units each include an additional room and one bathroom; Approximately 31 years remain on a 35‑year tax abatement
