Building Details

Building Size 1,150 SF

Year Built 1955

Listed By: Dylan Avellino Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Sep 27 Last Checked: Oct 9 at 10:43PM

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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 / Yr

$28,111

Cap Rate

5.21%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

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 (±1% cap)

NOI $59,346 @ 7.0% cap · market cap 10.99%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Gothelf & Levine Dental Office

Suggested Use

Top Pick Law Firm Parking Lot & Garage Gym & Fitness Center Hotel & Motel Nursing Home Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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.