Updated Multifamily
New
For Sale
$1,490,000
196-49 45 ave, Flushing, NY 11358
MULTI_FAMILY - Flushing, NY
Property Size4,700 SF
Lot Size0.09 Acres
Price / SF$317.02
Days on Market3
Property Features for 196-49 45 ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Bathroom 3, Bedroom 7, Bedroom 4, Bedroom 5, Bedroom 9, Bedroom 1, Bathroom 1, Bathroom 6, Bathroom 7, Bedroom 6, Bathroom 4, Bedroom 8, Bathroom 5, Bedroom 2, Bathroom 2, Bedroom 3
Subdivision
Flushing
High school district
NEW YORK CITY GEOGRAPHIC DISTRICT #26
Standard status
Active
Size
4,700 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
18628
Utilities
Heating system
Hot Water(Heating), Natural Gas
Building Details
Floors in Building
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
EAST COAST NEW YORK
(718) 428-2900
Listed By:
Soo K Yun
(917) 974-0992
Added: Aug 17
Changed: Aug 19
Last Checked: Aug 19 at 5:06AM
MLS# 11937969
Copyright © 2026 My State 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 multifamily property contains 4,700 square feet on a 0.0918-acre lot, with a 33 x 70 building footprint. The brick structure includes hardwood flooring, an asphalt roof, and hot-water heating powered by natural gas. The property offers nine bedrooms and seven bathrooms, with updated siding, roofing, windows, and heating equipment. Southern exposure contributes to the building’s light-filled interior.
The property is occupied under leases and operates as a free-market rental. Its Flushing setting provides access to the LIRR Auburndale station within walking distance, with Northern Boulevard, H Mart, schools, and highways nearby.
The property is occupied under leases and operates as a free-market rental. Its Flushing setting provides access to the LIRR Auburndale station within walking distance, with Northern Boulevard, H Mart, schools, and highways nearby.
Key Highlights
- 4,700‑square‑foot multifamily property on a 0.0918‑acre lot
- 33 x 70 building footprint with brick construction
- Nine bedrooms and seven bathrooms
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
$114,889
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
7.71%
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%
$2,297,780
$2.3M
Cap Rate 7%
$1,641,271
$1.6M
Cap Rate 9%
$1,276,544
$1.3M
Market Conditions
NOI Build-Up for 4,700 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
$217.1K $46.20/SF
− Vacancy
−$8.3K −$1.76/SF
EGI
$208.9K $44.44/SF
− OpEx
−$94.0K −$20.00/SF
NOI
$114.9K $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 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%
$2,297,780
Cap Rate 7%
$1,641,271
Cap Rate 9%
$1,276,544
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.44M – $1.91M
NOI $114,889 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.46M
$3.03M – $4.04M
NOI $242,543 @ 7.0% cap · market cap 16.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Brick rental property with refreshed major building systems and current lease occupancy.
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: 4,700‑square‑foot multifamily property on a 0.0918‑acre lot; 33 x 70 building footprint with brick construction; Nine bedrooms and seven bathrooms
