Queens Multifamily Investment
31-74 33rd Street, Queens, NY 11106
- Added:
- Sep 12, 2025
- Days on Market:
- 254
- Last Refresh:
- May 23 at 2:06 am
Property Features for 31-74 33rd Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bedrooms
- 12
- Bathrooms
- 6
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking features
- Garage
- Standard status
- Active
- Size
- 5,320 SF
Taxes and HOA fees
- Tax Annual Amount
- 0
Building Details
- Architectural style
- Other
Listing agent Kathleen Eng (212) 913-9058
Listing office Compass 90 Fifth Avenue, 3rd Floor, New York, NY (646) 982-0353
Listing date Sep 12, 2025
MLS# 11573910
Listing URL
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime location: Two blocks from N/W Broadway subway station and 33rd Street.
- Excellent income potential: Fully leased 6‑family building.
- 5 market rate and 1 rent stabilized apartment.
- All 6 units are two‑bedroom apartments.
- Well‑maintained building.
- Surrounded by shopping and dining options.
Overview
This six-family building is located in a desirable area of Queens, New York, just two blocks from the N/W Broadway subway station and 33rd Street. The property features six two-bedroom apartments and is fully leased, with five units at market rate and one rent-stabilized apartment. The building is well-maintained and presents an opportunity for investors seeking rental income and long-term value. The surrounding area offers a mix of shopping and dining options.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.44M
NOI $130,044 @ 9.00% cap · cautious / downside scenario
Moderate
$1.86M
NOI $130,044 @ 7.00% cap · market / base-case scenario
Aggressive
$2.60M
NOI $130,044 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $245.8k | $46.20 |
| − Vacancy | −$9.3k | −$1.76 |
| EGI | $236.4k | $44.44 |
| − OpEx | −$106.4k | −$20.00 |
| NOI | $130.0k | $24.44 |
5,320 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
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 local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.923538
- Latitude
- 40.761886
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-unit building near N/W subway with income potential.
Where is this apartment building located?
The property is located at 31-74 33rd Street 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: Two blocks from N/W Broadway subway station and 33rd Street.; Excellent income potential: Fully leased 6‑family building.; 5 market rate and 1 rent stabilized apartment.
