Detached Brick Multifamily Income
3611 UTOPIA PKWY Flushing, NY 11358
3611 UTOPIA PKWY, Flushing, NY, 11358
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For Sale
Contact for pricing
Legal two-family home currently taxed as four-family, offering multiple apartment configurations and convenient on-site parking.
Property Size4,662 SF
Lot Size0.12 Acres
Price / SF$321.54
Days on Market55
Property Features for 3611 UTOPIA PKWY
General Information
- Standard status
- Active
- Size
- 4,662 SF
- Lot size
- 0.12 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1975
Listing agency
Douglas Elliman New Hyde Park
(917) 576-9550
Listed by
James Chung · License #10301214776
Source
Crexi
Added: May 28 Updated: Jul 10 at 1:49PM Checked: Jul 20 at 6:30AM
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 Douglas Elliman New Hyde Park
Investment Insights
Based on property information with market context.
36-11 Utopia Parkway is a detached brick income-producing property arranged as a legal 2-family home that is currently being used and taxed as a 4-family property. The building contains approximately 4,662 square feet on an irregular lot of about 5,153 square feet. The second and third floor units each include three bedrooms, two full bathrooms, a living room, dining room, kitchen, and a private balcony. The first floor unit offers one bedroom, one full bathroom, living room, dining room, and kitchen. The lower level is configured with one bedroom, one bathroom, a living room, and a kitchen/dinette area.
The property includes a 1-car attached garage and two long private driveways for on-site parking convenience. It is located within a short distance of Auburndale LIRR Station as well as Northern Boulevard and Francis Lewis Boulevard, supporting access to transit and a range of nearby shopping and dining options.
For buyers or operators seeking a brick multifamily with flexible unit mix, this fully rented property has tenants on month-to-month arrangements and no leases in place. Buyer should independently verify all information, including use, occupancy, taxes, and property details.
The property includes a 1-car attached garage and two long private driveways for on-site parking convenience. It is located within a short distance of Auburndale LIRR Station as well as Northern Boulevard and Francis Lewis Boulevard, supporting access to transit and a range of nearby shopping and dining options.
For buyers or operators seeking a brick multifamily with flexible unit mix, this fully rented property has tenants on month-to-month arrangements and no leases in place. Buyer should independently verify all information, including use, occupancy, taxes, and property details.
Key Highlights
- Legal 2‑family brick home currently taxed as a 4‑family with approx. 4,662 sq. ft. of building space
- 5,153 sq. ft. irregular lot; fully rented with tenants month‑to‑month (no leases provided)
- Second- and third‑floor units each have 3 bedrooms, 2 full bathrooms, living/dining/kitchen plus private balcony
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| 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 Uses
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Legal two-family home currently taxed as four-family, offering multiple apartment configurations and convenient on-site parking.
Where is this quadplex located?
The property is located at 3611 UTOPIA PKWY 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: Legal 2‑family brick home currently taxed as a 4‑family with approx. 4,662 sq. ft. of building space; 5,153 sq. ft. irregular lot; fully rented with tenants month‑to‑month (no leases provided); Second- and third‑floor units each have 3 bedrooms, 2 full bathrooms, living/dining/kitchen plus private balcony
