Six-Family Building Near
For Sale
$2,500,000
Pending
31-74 33rd St, Queens, NY 11106
Fully leased six-family building near N/W Broadway subway station.
Property Size5,320 SF
Lot Size0.06 Acres
Days on Market212
Property Features for 31-74 33rd St
General Information
Standard status
Pending
Size
5,320 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$21,408
Building Details
Building Size
5,320 SF
Year Built
1923
Stories
3
Units
6
Listing Agency:
Compass
Listed By:
Marie Claire Martineau
(917) 848-6823
Source:
Elliman
Added: Mar 11
Changed: Sep 24
Last Checked: Oct 7 at 1:17PM
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 Compass
Investment Insights
Based on property information with market context.
This six-family building is located two blocks from the N/W Broadway subway station and 33rd Street. The property is fully leased and contains six apartments. Five apartments are market rate, and one is rent stabilized. The building is well-maintained. Each apartment features two bedrooms. The surrounding area includes shopping and dining options. This property is positioned for investors seeking rental income and long-term value.
Key Highlights
- Prime location: Just two blocks from the N/W Broadway subway station and 33rd Street.
- Fully leased 6‑family building: Provides immediate rental income.
- Excellent income potential: Featuring 5 market‑rate and 1 rent‑stabilized apartment.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,044
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,600,880
$2.6M
Cap Rate 7%
$1,857,771
$1.9M
Cap Rate 9%
$1,444,933
$1.4M
Market Conditions
NOI Build-Up for 5,320 SF
Gross rent
$245.8K $46.20/SF
− Vacancy
−$9.3K −$1.76/SF
EGI
$236.4K $44.44/SF
− OpEx
−$106.4K −$20.00/SF
NOI
$130.0K $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%
$2,600,880
Cap Rate 7%
$1,857,771
Cap Rate 9%
$1,444,933
Alternative Uses
Best Use
Apartment 5plus
$1.86M
$1.63M – $2.17M
NOI $130,044 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.92M
$3.43M – $4.58M
NOI $274,538 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,039
Businesses Nearby
Explore this area
Business Placement
Demographics for 11106, NY
41,722
Population
21,681
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
46,358
Density / Sq Mi
$85,573
Median Household Income
$62,254
Median Earnings
$2,032
Median Rent
$639,200
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 - Fully leased six-family building near N/W Broadway subway station.
Where is this apartment building located?
The property is located at 31-74 33rd St Queens, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime location: Just two blocks from the N/W Broadway subway station and 33rd Street.; Fully leased 6‑family building: Provides immediate rental income.; Excellent income potential: Featuring 5 market‑rate and 1 rent‑stabilized apartment.
