Spacious Top Floor Corner
For Sale
$540,000
Pending
3730 83rd St 6D, Queens, NY 11372
Expansive 2BR/2BA apartment with ample storage in Jackson Heights.
Property Size1,150 SF
Days on Market268
Property Features for 3730 83rd St 6D
General Information
Standard status
Pending
Size
1,150 SF
Property subtype
Residential
Building Details
Building Size
1,150 SF
Year Built
1955
Listing Agency:
(516) 546-6300
Listed By:
Dylan Avellino
(516) 546-6300
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 10
Last Checked: Aug 22 at 11:15AM
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 Dylan Avellino
Investment Insights
Based on property information with market context.
This top floor corner unit features hardwood floors throughout, offering comfortable living space. The layout includes an open foyer, a dining area, and a separate kitchen with a window, presenting an opportunity for customization. Seven large closets provide ample storage. The apartment has two spacious bedrooms and two full bathrooms. The Monterey building offers an updated laundry room, storage units, and bike racks. Indoor parking is available with a short waiting list. The building also features an updated security system and an outside deck for shareholders. Located in Jackson Heights, the property is a short walk from the 7 train and a slightly longer walk to the express EFRM train. Cafes, restaurants, Target, and a park are nearby. Subletting is allowed, and the building is pet-friendly with no flip tax.
Key Highlights
- Top floor corner unit with HARDWOOD FLOORS THROUGHOUT.
- Sublet allowed, pet friendly, and no flip tax.
- Convenient location: 4‑minute walk to 7 train, 11‑minute walk to express E/F/R/M train, near cafes, restaurants, Target, and park.
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
$28,111
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
5.21%
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%
$562,220
$562.2K
Cap Rate 7%
$401,586
$401.6K
Cap Rate 9%
$312,344
$312.3K
Market Conditions
NOI Build-Up for 1,150 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
$53.1K $46.20/SF
− Vacancy
−$2.0K −$1.76/SF
EGI
$51.1K $44.44/SF
− OpEx
−$23.0K −$20.00/SF
NOI
$28.1K $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%
$562,220
Cap Rate 7%
$401,586
Cap Rate 9%
$312,344
Alternative Uses
Best Use
Apartment 5plus
$401.6K
$351.4K – $468.5K
NOI $28,111 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$847.8K
$741.8K – $989.1K
NOI $59,346 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,269
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Expansive 2BR/2BA apartment with ample storage in Jackson Heights.
Where is this apartment building located?
The property is located at 3730 83rd St 6D Queens, NY.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Top floor corner unit with HARDWOOD FLOORS THROUGHOUT.; Sublet allowed, pet friendly, and no flip tax.; Convenient location: 4‑minute walk to 7 train, 11‑minute walk to express E/F/R/M train, near cafes, restaurants, Target, and park.
