8-Unit Brick Apartment
For Sale
$3,180,000
36-05 Vernon Boulevard, Long Island City, NY 11106
Every residence is leased and includes three bedrooms and two bathrooms.
Property Size10,500 SF
Lot Size0.08 Acres
Price / SF$302.86
Days on Market136
Property Features for 36-05 Vernon Boulevard
General Information
Standard status
Active
Size
10,500 SF
Lot size
0.08 Acres
Property subtype
Commercial
Occupancy
100%
Net Operating Income
$205,306
Units
Unit Mix
8 x 3BR/2BA
Multifamily Units
8
Additional Details
Gross Income
$251,534
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$16,228
Building Details
Building Size
10,500 SF
Year Built
1931
Buildings
1
Stories
4
Units
8
Construction
brick
Listing Agency:
Sany Realty Group LLC
(718) 799-0726
Listed By:
Yan Wang
(646) 620-2250
Source:
Croninreale
Added: Jun 10
Changed: Oct 23
Last Checked: Oct 23 at 9:51AM
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 Sany Realty Group LLC
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Investment Insights
Based on property information with market context.
Built in 1931, this four-story brick apartment building contains eight residences. Each unit has three bedrooms and two bathrooms; six are free-market units and two are RS units. The building measures 35 feet by 75 feet, on a 35-foot-by-100.08-foot lot.
All eight apartments are leased. The property is located at 36-05 Vernon Boulevard in Long Island City, New York.
All eight apartments are leased. The property is located at 36-05 Vernon Boulevard in Long Island City, New York.
Key Highlights
- Eight units, each with three bedrooms and two bathrooms
- Six free‑market units and two RS units
- Four‑story brick building constructed in 1931
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$256,666
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,133,320
$5.1M
Cap Rate 7%
$3,666,657
$3.7M
Cap Rate 9%
$2,851,844
$2.9M
Market Conditions
NOI Build-Up for 10,500 SF
Gross rent
$485.1K $46.20/SF
− Vacancy
−$18.4K −$1.76/SF
EGI
$466.7K $44.44/SF
− OpEx
−$210.0K −$20.00/SF
NOI
$256.7K $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%
$5,133,320
Cap Rate 7%
$3,666,657
Cap Rate 9%
$2,851,844
Alternative Uses
Best Use
Apartment 5plus
$3.67M
$3.21M – $4.28M
NOI $256,666 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.74M
$6.77M – $9.03M
NOI $541,850 @ 7.0% cap · market cap 17.04%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,429
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Every residence is leased and includes three bedrooms and two bathrooms.
Where is this apartment building located?
The property is located at 36-05 Vernon Boulevard Long Island City, NY.
What is the asking price?
The asking price for this property is $3,180,000.
What are key features of this property?
This property features: Eight units, each with three bedrooms and two bathrooms; Six free‑market units and two RS units; Four‑story brick building constructed in 1931
