6-Unit Walk-Up Apartment
For Sale
$1,650,000
41-16 54th Street, Woodside, NY 11377
Fully leased residential property with three-bedroom layouts in every apartment.
Property Size5,508 SF
Lot Size0.06 Acres
Price / SF$299.56
Days on Market75
Property Features for 41-16 54th Street
General Information
Standard status
Active
Size
5,508 SF
Lot size
0.06 Acres
Property subtype
Multi-Unit (5+)
Zoning
R5D
Occupancy
100%
Units
Unit Mix
6 x 3BR
Multifamily Units
6
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Building Details
Buildings
1
Listing Agency:
GRAVITY REAL ESTATE ADVISORS LLC
Listed By:
Dimitrios Kapelonis
(917) 579-1373
Source:
Gosenproperties
Added: Aug 18
Changed: Oct 29
Last Checked: Oct 28 at 6:07AM
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 GRAVITY REAL ESTATE ADVISORS LLC
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Investment Insights
Based on property information with market context.
This six-unit walk-up apartment building contains 5,508 square feet on a 27 x 100 lot. Each apartment is approximately 918 square feet and has three bedrooms. The unit mix includes four free-market apartments and two rent-stabilized apartments, and the property is fully rented. Zoning is R5D.
The 7 train is accessible from the 52nd St and 46th St-Bliss St stations, with Grand Central approximately 10 minutes away.
The 7 train is accessible from the 52nd St and 46th St-Bliss St stations, with Grand Central approximately 10 minutes away.
Key Highlights
- Six apartments, each with three bedrooms
- Approximately 918 square feet per apartment; 5,508 square feet total
- Four free‑market apartments and two rent‑stabilized apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,640
Cap Rate
8.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,692,800
$2.7M
Cap Rate 7%
$1,923,429
$1.9M
Cap Rate 9%
$1,496,000
$1.5M
Market Conditions
NOI Build-Up for 5,508 SF
Gross rent
$254.5K $46.20/SF
− Vacancy
−$9.7K −$1.76/SF
EGI
$244.8K $44.44/SF
− OpEx
−$110.2K −$20.00/SF
NOI
$134.6K $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%
$2,692,800
Cap Rate 7%
$1,923,429
Cap Rate 9%
$1,496,000
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,640 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.06M
$3.55M – $4.74M
NOI $284,239 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,733
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased residential property with three-bedroom layouts in every apartment.
Where is this apartment building located?
The property is located at 41-16 54th Street Woodside, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Six apartments, each with three bedrooms; Approximately 918 square feet per apartment; 5,508 square feet total; Four free‑market apartments and two rent‑stabilized apartments
