5-Unit Apartment
New
For Sale
$1,920,000
25-40 14th Place, Queens, NY 11102
Fully rented multifamily property with a finished basement and a flexible one- and two-bedroom unit mix.
Property Size3,206 SF
Price / SF$598.88
Days on Market5
Property Features for 25-40 14th Place
General Information
Standard status
Active
Size
3,206 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
4 x 1BR, 1 x 2BR
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$40,582
Building Details
Building Size
3,206 SF
Year Built
1931
Buildings
1
Listing Agency:
Modern Spaces
(718) 784-1110
Listed By:
Gregory Kyroglou
(718) 784-1110
Source:
Howardhannanyc
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 26 at 9:52AM
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 Modern Spaces
Investment Insights
Based on property information with market context.
This 5-family apartment building contains 3206 square feet and was built in 1931. The configuration includes four 1-bedroom apartments, one 2-bedroom apartment, and a finished basement, providing a defined mix within a compact multifamily asset.
The property is fully rented and is located at 25-40 14th Place in Queens, NY 11102. Existing occupancy and the established apartment layout offer a straightforward profile for an investor evaluating a small residential income property.
The property is fully rented and is located at 25-40 14th Place in Queens, NY 11102. Existing occupancy and the established apartment layout offer a straightforward profile for an investor evaluating a small residential income property.
Key Highlights
- 5‑family apartment building with 3206 square feet
- Unit mix includes four 1‑bedroom units and one 2‑bedroom unit
- Finished basement
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
$78,369
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
4.08%
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%
$1,567,380
$1.6M
Cap Rate 7%
$1,119,557
$1.1M
Cap Rate 9%
$870,767
$870.8K
Market Conditions
NOI Build-Up for 3,206 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
$148.1K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$142.5K $44.44/SF
− OpEx
−$64.1K −$20.00/SF
NOI
$78.4K $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%
$1,567,380
Cap Rate 7%
$1,119,557
Cap Rate 9%
$870,767
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$979.6K – $1.31M
NOI $78,369 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,445 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,016
Businesses Nearby
Explore this area
Business Placement
Demographics for 11102, NY
37,468
Population
19,431
Households
1.9
Avg Household Size
36
Median Age
58%
College-Educated
90%
High-School Grad
0.7 sq mi
ZIP Area
53,526
Density / Sq Mi
$102,996
Median Household Income
$70,557
Median Earnings
$2,248
Median Rent
$779,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully rented multifamily property with a finished basement and a flexible one- and two-bedroom unit mix.
Where is this apartment building located?
The property is located at 25-40 14th Place Queens, NY.
What is the asking price?
The asking price for this property is $1,920,000.
What are key features of this property?
This property features: 5‑family apartment building with 3206 square feet; Unit mix includes four 1‑bedroom units and one 2‑bedroom unit; Finished basement
