Studio Apartment in Elevator
For Sale
$189,000
Pending
3045 Hobart St 4H, Queens, NY 11377
Studio apartment in an elevator building with laundry facilities.
Property Size450 SF
Days on Market317
Property Features for 3045 Hobart St 4H
General Information
Standard status
Pending
Size
450 SF
Property subtype
Residential
Building Details
Building Size
450 SF
Year Built
1935
Listing Agency:
Papp Realty
Listed By:
Romero L. Papp · License #10311206337
(718) 316-7199
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 7
Last Checked: Oct 9 at 9:43PM
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 Papp Realty
Investment Insights
Based on property information with market context.
This studio apartment is located on the 4th floor of an elevator building. The building features a live-in superintendent and a laundry facility. The property is situated within the Boulevard Gardens complex.
Key Highlights
- Elevator building
- Live‑in super
- Laundry facility in complex
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,000
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$220,000
$220.0K
Cap Rate 7%
$157,143
$157.1K
Cap Rate 9%
$122,222
$122.2K
Market Conditions
NOI Build-Up for 450 SF
Gross rent
$20.8K $46.20/SF
− Vacancy
−$790 −$1.76/SF
EGI
$20.0K $44.44/SF
− OpEx
−$9.0K −$20.00/SF
NOI
$11.0K $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%
$220,000
Cap Rate 7%
$157,143
Cap Rate 9%
$122,222
Alternative Uses
Best Use
Apartment 5plus
$157.1K
$137.5K – $183.3K
NOI $11,000 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.7K
$290.3K – $387.0K
NOI $23,222 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,752
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Studio apartment in an elevator building with laundry facilities.
Where is this apartment building located?
The property is located at 3045 Hobart St 4H Queens, NY.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Elevator building; Live‑in super; Laundry facility in complex
