198-03 Hollis Ave Queens, NY 11412
MULTI_FAMILY - Queens, NY
Property Features for 198-03 Hollis Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 1, Laundry Room, Bedroom 3
- Standard status
- Active
- Size
- 3,000 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5769
Building Details
- Floors in Building
- 2
Listing agent Nina Sabag 855-305-DEAL
Listing office 5 BORO REALTY CORP 2153 UTICA AVE, BROOKLYN, NY (917) 705-0005
Listing date May 28, 2026
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.
The building sits on a 21 ft x 131.17 ft lot, with a footprint measuring 18 ft x 55 ft. Rear parking accommodates up to four cars, supported by the depth of the lot and the efficient building size.
For an investor or owner-operator, the combination of residential and retail income can help diversify cash flow under one ownership. The finished basement access tied to the storefront supports day-to-day operational flexibility, while the rear parking feature is a practical benefit for both tenants and retail customers. The property is currently generating rental income across all three units, making it suitable for those looking to acquire a functioning mixed-use building.
Key Highlights
- Mixed‑use income property with 2 residential units and 1 ground‑floor commercial storefront, plus finished basement used by the tenant
- $7,255 monthly income ($87,060 annually): 3‑bedroom unit $2,555/month, studio $2,200/month, retail store $2,500/month
- Rear parking for up to 4 cars, supporting both residential tenants and commercial use
Local 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 | $138.6k | $46.20 |
| − Vacancy | −$5.3k | −$1.76 |
| EGI | $133.3k | $44.44 |
| − OpEx | −$60.0k | −$20.00 |
| NOI | $73.3k | $24.44 |
