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Building Details

Building Size 3,206 SF

Year Built 1931

Buildings 1

Listing Agency: Modern Spaces

Listed By: Gregory Kyroglou Show Phone

Source: Howardhannanyc

Added: Aug 24 Changed: Oct 11 Last Checked: Oct 15 at 6:24AM

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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.

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 / Yr

$78,369

Cap Rate

4.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,567,380 $1.6M

Cap Rate 7%

$1,119,557 $1.1M

Cap Rate 9%

$870,767 $870.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,206 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $165,445 @ 7.0% cap · market cap 8.62%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Clothing & Fashion Store Nursing Home Computer & Electronic Repair Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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