Meticulously Maintained Flushing Multifamily
196-64 45th Avenue Flushing, NY 11358
For Sale
$1,950,000
MULTI_FAMILY - Flushing, NY
Property Size2,909 SF
Lot Size0.14 Acres
Price / SF$670.33
Days on Market184
Property Features for 196-64 45th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3X
Bedrooms
6
Bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 1, Bathroom 1
Parking features
Garage - Attached
Basement
Finished
Standard status
Active
Size
2,909 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
12987
Building Details
Year built
1955
Floors in Building
2
Number of units
2
Building materials
Brick
Listing Agency:
RE/MAX Elite
(718) 690-3900
Listed By:
Konstantinos Tsoukaris · License #10401325882
(718) 690-3900
Added: Jan 27
Changed: Jul 11
Last Checked: Jul 30 at 12:06AM
MLS# 498634
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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 meticulously maintained, all-brick two-family property is situated on an 80' x 75' lot. The property features updated roofs, renovated kitchens, and bathrooms throughout. The first-floor duplex apartment includes two bedrooms and one full bathroom. The second floor also features two bedrooms and one full bathroom. The finished basement has high ceilings, ample natural light from numerous windows, and a separate egress at the front of the property. Additional features include a private driveway and a one-car garage. The property offers approximately 3,000 square feet of space. The R3X zoning and lot coverage may allow for expansion or multiple-use opportunities. The property is conveniently located near public transportation, including the LIRR and local buses, as well as stores, shops, shopping centers, and restaurants. Major roadways such as Northern Blvd, Francis Lewis Blvd, the LIE, Cross Island Parkway, and Clearview Expressway are easily accessible.
Key Highlights
- All‑brick 2‑family home on an 80' x 75' lot
- Updated roof; renovated kitchens and baths throughout
- 1st‑floor unit: 2 bedrooms and 1 full bathroom
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.4k | $46.20 |
| − Vacancy | −$5.1k | −$1.76 |
| EGI | $129.3k | $44.44 |
| − OpEx | −$58.2k | −$20.00 |
| NOI | $71.1k | $24.44 |
2,909 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$888.9K – $1.19M
NOI $71,109 @ 7.0% cap · market cap 3.65%
Second Best
Multifamily LT 5
$687.8K
$601.9K – $802.5K
NOI $48,149 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,118 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family property on a large lot near transportation.
Where is this duplex located?
The property is located at 196-64 45th Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: All‑brick 2‑family home on an 80' x 75' lot; Updated roof; renovated kitchens and baths throughout; 1st‑floor unit: 2 bedrooms and 1 full bathroom
