Leased Multifamily
For Sale
$1,490,000
196-49 45 Ave, Flushing, NY 11358
Updated exterior components and building systems support an occupied, free-market rental operation.
Property Size2,310 SF
Price / SF$645.02
Days on Market73
Property Features for 196-49 45 Ave
General Information
Standard status
Active
Size
2,310 SF
Property subtype
Multi Family Home
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Tenant in Place
Yes
Building Details
Year Renovated
2018
Stories
2
Listing Agency:
EAST COAST NEW YORK
Listed By:
Soo Yun
(718) 428-2900
Source:
Crystinandcorealty
Added: Aug 17
Changed: Oct 25
Last Checked: Oct 26 at 3:51AM
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 EAST COAST NEW YORK
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily rental property measures 33 x 70. Improvements include updated siding, roofing, heating, and windows. The building is fully occupied, with leases in place, and operates as a free-market rental property.
Auburndale LIRR station is within walking distance. Nearby context includes Northern, H Mart, a school, and highways.
Auburndale LIRR station is within walking distance. Nearby context includes Northern, H Mart, a school, and highways.
Key Highlights
- Fully occupied with leases in place
- Building dimensions: 33 x 70
- Updated siding, roof, heating system, and windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,467
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,129,340
$1.1M
Cap Rate 7%
$806,671
$806.7K
Cap Rate 9%
$627,411
$627.4K
Market Conditions
NOI Build-Up for 2,310 SF
Gross rent
$106.7K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$102.7K $44.44/SF
− OpEx
−$46.2K −$20.00/SF
NOI
$56.5K $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%
$1,129,340
Cap Rate 7%
$806,671
Cap Rate 9%
$627,411
Alternative Uses
Best Use
Apartment 5plus
$806.7K
$705.8K – $941.1K
NOI $56,467 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,207 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,789
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Updated exterior components and building systems support an occupied, free-market rental operation.
Where is this multifamily property located?
The property is located at 196-49 45 Ave Flushing, NY.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Fully occupied with leases in place; Building dimensions: 33 x 70; Updated siding, roof, heating system, and windows
