Income-Producing Multifamily Property in
36-11 Utopia Parkway, Flushing, NY 11358
MULTI_FAMILY - Flushing, NY
Property size:
4,662 SFLot size:
0.09 AcresPrice / SF:
$321/SF- Added:
- May 15, 2026
- Days on Market:
- 14
- Last Refresh:
- May 28 at 12:06 pm
Property Features for 36-11 Utopia Parkway
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 6
- Rooms
- Bedroom 5, Bedroom 3, Bathroom 1, Bedroom 8, Bedroom 1, Bedroom 6, Bedroom 7, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 4, Bathroom 6, Bathroom 2, Basement, Bathroom 5
- Parking features
- Driveway, On Street
- Basement
- Full, Finished
- Standard status
- Active
- APN
- 05307-0020
- Size
- 4,662 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 27485
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Hot Water(Heating)
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1975
- Number of units
- 4
- Building materials
- Brick
Listing agent James Y. Chung License #10301214776 (917) 727-5652
Listing office Douglas Elliman Real Estate 1700 Lakeville Rd, Huntington Station, NY (516) 746-0440
Listing date May 15, 2026
MLS# 1000582
Listing URL
Copyright © 2026 OneKey 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
- Income‑producing property with strong potential in a convenient Flushing location.
- Legal 2‑family home currently used as a 4‑family, offering multiple rental units.
- Spacious apartments with private balconies on the second and third floors (3 bedrooms, 2 bathrooms each).
- Excellent parking convenience with a 1‑car attached garage and two long private driveways.
- Conveniently located near Auburndale LIRR Station, Northern Boulevard, and Francis Lewis Boulevard.
- Substantial building size (approx. 4,662 sq. ft.) on a 5,153 sq. ft. lot.
Overview
Located in Flushing, NY, 36-11 Utopia Parkway is a detached brick building, legally a 2-family home, but currently used and taxed as a 4-family property. Constructed in 1975, this income-producing property provides approximately 4,662 sq. ft. of building space on a 5,153 sq. ft. irregular lot, measuring approximately 85 x 44 IRR. The building itself measures approximately 74 x 21. The second and third floor apartments each feature 3 bedrooms, 2 full bathrooms, a living room, dining room, kitchen, and a private balcony. The first floor apartment includes 1 bedroom, 1 full bathroom, a living room, dining room, and kitchen. The lower level apartment offers 1 bedroom, 1 bathroom, a living room, and a kitchen/dinette area. Additional features include a 1-car attached garage and two long private driveways. The property is fully rented with no leases, and all tenants are currently month-to-month. The property is located a short distance to Auburndale LIRR Station, Northern Boulevard, and Francis Lewis Boulevard, providing easy access to shopping, dining, transportation, and neighborhood amenities. This solid brick property offers strong potential.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.27M
NOI $113,960 @ 9.00% cap · cautious / downside scenario
Moderate
$1.63M
NOI $113,960 @ 7.00% cap · market / base-case scenario
Aggressive
$2.28M
NOI $113,960 @ 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 | $215.4k | $46.20 |
| − Vacancy | −$8.2k | −$1.76 |
| EGI | $207.2k | $44.44 |
| − OpEx | −$93.2k | −$20.00 |
| NOI | $114.0k | $24.44 |
4,662 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.63M
$1.42M – $1.90M
NOI $113,960 @ 7.0% cap · market cap 7.60%
Second Best
Multifamily LT 5
$1.10M
$964.6K – $1.29M
NOI $77,164 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,582 @ 7.0% cap · market cap 16.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Flushing
- County
- Queens
- State
- New York
- Longitude
- -73.793012
- Latitude
- 40.762788
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Detached, well-kept 4-family property near transportation and amenities.
Where is this quadplex located?
The property is located at 36-11 Utopia Parkway Flushing, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Income‑producing property with strong potential in a convenient Flushing location.; Legal 2‑family home currently used as a 4‑family, offering multiple rental units.; Spacious apartments with **private balconies** on the second and third floors (3 bedrooms, 2 bathrooms each).
