Detached Seven-Unit Apartment
For Sale
Contact for pricing
3738 104th Street, New York, NY 11368
Brick multifamily property with varied apartment layouts, private parking, and outdoor space near transit and neighborhood services.
Property Size4,158 SF
Price / SF$577.20
Days on Market131
Property Features for 3738 104th Street
General Information
Standard status
Active
Size
4,158 SF
Total Parking Spaces
10
Property subtype
Multifamily
Zoning
R6B
Occupancy
100%
Net Operating Income
$171,308
Units
Unit Mix
6 x two-bedroom, 1 x one-bedroom
Multifamily Units
7
Additional Details
Public Transit
Yes
Amenities
large backyard
Building Details
Year Built
1931
Buildings
1
Stories
4
Units
7
Construction
brick
Listing Agency:
Telemundo Realty
(347) 351-5846
Listed By:
Gladys Ramirez · License #NY 31RA0597323
Source:
Crexi
Added: Apr 22
Changed: Aug 29
Last Checked: Aug 29 at 4:56PM
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 Telemundo Realty
Investment Insights
Based on property information with market context.
This detached brick apartment property, constructed in 1931, contains seven apartments: six two-bedroom residences and one one-bedroom residence. The building also includes a private garage, a driveway accommodating 10 cars, and a large backyard. R6B zoning is reported for the property.
The property is near Roosevelt Avenue and the 7 train, with shopping, restaurants, and major thoroughfares in the surrounding area. Its apartment mix, parking accommodations, and outdoor space provide a clearly defined multifamily configuration.
The property is near Roosevelt Avenue and the 7 train, with shopping, restaurants, and major thoroughfares in the surrounding area. Its apartment mix, parking accommodations, and outdoor space provide a clearly defined multifamily configuration.
Key Highlights
- Seven apartments: six two‑bedroom units and one one‑bedroom unit
- Detached brick construction completed in 1931
- Private garage and driveway parking for 10 cars
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
$130,093
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
5.42%
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%
$2,601,860
$2.6M
Cap Rate 7%
$1,858,471
$1.9M
Cap Rate 9%
$1,445,478
$1.4M
Market Conditions
NOI Build-Up for 4,158 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
$249.0K $59.88/SF
− Vacancy
−$12.4K −$2.99/SF
EGI
$236.5K $56.89/SF
− OpEx
−$106.4K −$25.60/SF
NOI
$130.1K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /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%
$2,601,860
Cap Rate 7%
$1,858,471
Cap Rate 9%
$1,445,478
Alternative Uses
Best Use
Apartment 5plus
$1.86M
$1.63M – $2.17M
NOI $130,093 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$10.35M
$9.06M – $12.07M
NOI $724,490 @ 7.0% cap · market cap 30.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
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 - Brick multifamily property with varied apartment layouts, private parking, and outdoor space near transit and neighborhood services.
Where is this apartment building located?
The property is located at 3738 104th Street New York, NY.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Seven apartments: six two‑bedroom units and one one‑bedroom unit; Detached brick construction completed in 1931; Private garage and driveway parking for 10 cars
