New Elevator Multifamily
25-56 97th Street East Elmhurst Ny, NY 11369
25-56 97th Street East Elmhurst, Ny, NY, 11369
$5,180,000
For Sale
$5,180,000
Newly built 2023 multifamily property with an elevator featuring a mix of 2-, 4-, and 5-bedroom units.
Property Size8,881 SF
Price / SF$583.27
Days on Market23
Property Features for 25-56 97th Street East Elmhurst
General Information
- Standard status
- Active
- Size
- 8,881 SF
Building Details
- Year Built
- 2023
Listing agency
(845) 765-6128
Listed by
Isabel Alves
(845) 765-6128
Source
Town-and-country-fishkill-ny.remax
Added: Jun 30 Updated: Jul 21 at 3:42AM Checked: Jul 22 at 2:09AM
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 Isabel Alves
Investment Insights
Based on property information with market context.
Newly built in 2023, this multifamily property includes an elevator and offers eight residential units. The unit mix consists of six 2-bedroom units plus one 4-bedroom unit and one 5-bedroom unit.
Located in East Elmhurst in Queens, the property is positioned near LaGuardia Airport and a variety of everyday conveniences including shops, restaurants, supermarkets, schools, and public transportation.
For sale with seller financing available for qualified buyers, the listing also notes a 35-year tax abatement.
Located in East Elmhurst in Queens, the property is positioned near LaGuardia Airport and a variety of everyday conveniences including shops, restaurants, supermarkets, schools, and public transportation.
For sale with seller financing available for qualified buyers, the listing also notes a 35-year tax abatement.
Key Highlights
- Newly built 2023 multifamily property with elevator
- Unit mix includes six 2‑bedroom units plus one 4‑bedroom and one 5‑bedroom unit
- Annual rental income of $370,800
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 | $531.8k | $59.88 |
| − Vacancy | −$26.6k | −$2.99 |
| EGI | $505.2k | $56.89 |
| − OpEx | −$227.3k | −$25.60 |
| NOI | $277.9k | $31.29 |
8,881 SF · lease $59.88/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.97M
$3.47M – $4.63M
NOI $277,863 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$22.11M
$19.34M – $25.79M
NOI $1,547,425 @ 7.0% cap · market cap 29.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Newly built 2023 multifamily property with an elevator featuring a mix of 2-, 4-, and 5-bedroom units.
Where is this apartment building located?
The property is located at 25-56 97th Street East Elmhurst Ny, NY.
What is the asking price?
The asking price for this property is $5,180,000.
What are key features of this property?
This property features: Newly built 2023 multifamily property with elevator; Unit mix includes six 2‑bedroom units plus one 4‑bedroom and one 5‑bedroom unit; Annual rental income of $370,800
