7-Unit Apartment
For Sale
$1,590,000
41-26 74th St, Elmhurst, NY 11373
The property has a three-story layout with one- and three-bedroom apartments, plus a basement unit.
Property Size5,244 SF
Lot Size0.12 Acres
Price / SF$303.20
Days on Market51
Property Features for 41-26 74th St
General Information
Standard status
Active
Size
5,244 SF
Lot size
0.12 Acres
Property subtype
Commercial
Zoning
R5
Net Operating Income
$65,509
Units
Unit Mix
3 x 1BR/1BA, 4 x 3BR/1BA
Multifamily Units
7
Additional Details
Gross Income
$126,035
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$26,490
Building Details
Building Size
5,244 SF
Year Built
1926
Stories
3
Units
7
Listing Agency:
Promise Realty LLC
(718) 445-0000
Listed By:
Hye E. Moon · License #10401211075
(718) 344-6565
Source:
Croninreale
Added: Sep 4
Changed: Oct 23
Last Checked: Oct 23 at 9:52AM
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 Promise Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This seven-unit apartment building in Elmhurst was constructed in 1926 and is zoned R5. Its residential layout spans three floors, with a basement apartment as well. The stated unit mix includes one- and three-bedroom configurations.
The property is near subway and train service, along with stores and shops on 74th Street in Elmhurst.
The property is near subway and train service, along with stores and shops on 74th Street in Elmhurst.
Key Highlights
- Seven‑unit multifamily property
- R5 zoning
- Unit mix includes one- and three‑bedroom apartments, plus a basement unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,187
Cap Rate
8.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,563,740
$2.6M
Cap Rate 7%
$1,831,243
$1.8M
Cap Rate 9%
$1,424,300
$1.4M
Market Conditions
NOI Build-Up for 5,244 SF
Gross rent
$242.3K $46.20/SF
− Vacancy
−$9.2K −$1.76/SF
EGI
$233.1K $44.44/SF
− OpEx
−$104.9K −$20.00/SF
NOI
$128.2K $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%
$2,563,740
Cap Rate 7%
$1,831,243
Cap Rate 9%
$1,424,300
Alternative Uses
Best Use
Apartment 5plus
$1.83M
$1.60M – $2.14M
NOI $128,187 @ 7.0% cap · market cap 8.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.87M
$3.38M – $4.51M
NOI $270,616 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The property has a three-story layout with one- and three-bedroom apartments, plus a basement unit.
Where is this apartment building located?
The property is located at 41-26 74th St Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Seven‑unit multifamily property; R5 zoning; Unit mix includes one- and three‑bedroom apartments, plus a basement unit
