Renovated Kitchen, No Board
For Sale
$379,000
Pending
39-60 54 St 4V, Queens, NY 11377
Newly renovated kitchen and bathroom, no board approval required.
Property Size687 SF
Days on Market274
Property Features for 39-60 54 St 4V
General Information
Standard status
Pending
Size
687 SF
Property subtype
Residential
Building Details
Building Size
687 SF
Year Built
1972
Listing Agency:
Modern Spaces
(718) 459-4649
Listed By:
Jesse R. Aben
(718) 459-4649
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 27
Last Checked: Aug 26 at 11:59AM
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 Modern Spaces
Investment Insights
Based on property information with market context.
This property features a newly renovated kitchen equipped with stone counters and stainless steel appliances, along with a renovated bathroom. A 20% down payment is required for purchase. The sale may be subject to the terms and conditions of an offering plan. The buyer is responsible for paying the transfer tax. There is a monthly assessment of $15.55 and another monthly assessment of $126.94. No board approval is required.
Key Highlights
- Newly renovated kitchen featuring stone counters and stainless steel appliances.
- Renovated bathroom.
- No board approval required.
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
$16,793
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
4.43%
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%
$335,860
$335.9K
Cap Rate 7%
$239,900
$239.9K
Cap Rate 9%
$186,589
$186.6K
Market Conditions
NOI Build-Up for 687 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
$31.7K $46.20/SF
− Vacancy
−$1.2K −$1.76/SF
EGI
$30.5K $44.44/SF
− OpEx
−$13.7K −$20.00/SF
NOI
$16.8K $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%
$335,860
Cap Rate 7%
$239,900
Cap Rate 9%
$186,589
Alternative Uses
Best Use
Apartment 5plus
$239.9K
$209.9K – $279.9K
NOI $16,793 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$506.5K
$443.2K – $590.9K
NOI $35,452 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,752
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
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?
Multifamily property - Newly renovated kitchen and bathroom, no board approval required.
Where is this multifamily property located?
The property is located at 39-60 54 St 4V Queens, NY.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Newly renovated kitchen featuring stone counters and stainless steel appliances.; Renovated bathroom.; No board approval required.
