Astoria Quadruplex Near
For Sale
$1,350,000
34-26 10th Street, Queens, NY 11106
Legal quadruplex in Astoria, close to transportation and Manhattan.
Property Size2,840 SF
Price / SF$475.35
Days on Market296
Property Features for 34-26 10th Street
General Information
Standard status
Active
Size
2,840 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$3,790
Amenities
Square Feet
No
Other, Public
Other
Brick
Garage, Other
Building Details
Year Built
2001
Listing Agency:
Prime Realty
Listed By:
Edna Davoudi
(718) 229-2922
Source:
Compass
Added: Nov 24, 2025
Changed: Sep 15
Last Checked: Sep 15 at 11:28AM
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 Prime Realty
Investment Insights
Based on property information with market context.
This semi-detached legal quadruplex is situated on a quiet residential block in Astoria, offering convenient access to transportation and a 15-minute commute to Midtown Manhattan. The property is located near the waterfront and Astoria Cove. The layout includes a studio plus a utilities room on the first floor, a second floor featuring three bedrooms, two full bathrooms, a living room, and a kitchen. The third floor comprises two 1-bedroom units, each equipped with a kitchen, living room/dining room, and a balcony. The building includes multiple balconies, one indoor garage, and three outdoor parking spaces. All units are currently rented to tenants. The property generates a gross annual income of $120,600. Annual expenses covered by the landlord include approximately $10,000 in taxes, approximately $11,000 for heat and cooking gas, approximately $6,000 for water, and approximately $4,500 for insurance. The location has a bike score of 82, indicating it is very bikeable, a walk score of 82, indicating it is very walkable, and a transit score of 100, indicating it is a rider's paradise.
Key Highlights
- High Gross Income: $120,600/year from rented units with excellent tenants.
- Legal Quadruplex: Semi‑detached building offering multiple rental income streams.
- Excellent Transportation: Transit Score of 100, near transportation, and 15 minutes to Midtown Manhattan.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,422
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,388,440
$1.4M
Cap Rate 7%
$991,743
$991.7K
Cap Rate 9%
$771,356
$771.4K
Market Conditions
NOI Build-Up for 2,840 SF
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.
Gross rent
$131.2K $46.20/SF
− Vacancy
−$5.0K −$1.76/SF
EGI
$126.2K $44.44/SF
− OpEx
−$56.8K −$20.00/SF
NOI
$69.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,388,440
Cap Rate 7%
$991,743
Cap Rate 9%
$771,356
Alternative Uses
Best Use
Apartment 5plus
$991.7K
$867.8K – $1.16M
NOI $69,422 @ 7.0% cap · market cap 5.14%
Second Best
Multifamily LT 5
$671.5K
$587.6K – $783.5K
NOI $47,007 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,558 @ 7.0% cap · market cap 10.86%
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
3,316
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?
Quadplex - Legal quadruplex in Astoria, close to transportation and Manhattan.
Where is this quadplex located?
The property is located at 34-26 10th Street Queens, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: High Gross Income: $120,600/year from rented units with excellent tenants.; Legal Quadruplex: Semi‑detached building offering multiple rental income streams.; Excellent Transportation: Transit Score of 100, near transportation, and 15 minutes to Midtown Manhattan.
