Seven-Unit Brick Apartment
New
For Sale
$1,650,000
41-26 74th ST, Elmhurst, NY 11373
Commercial Sale, Elmhurst, NY
Property Size2,518 SF
Lot Size0.12 Acres
Price / SF$655.28
Days on Market5
Property Features for 41-26 74th ST
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5
Rooms
Basement
Parking features
On Street
Basement
Partially Finished, Storage Space
Elementary school
Ps 12 James B Colgate
Middle school
Is 125 Thomas J Mccann Woodside
High school
Aviation Career And Tech High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Directions
Google Map
Standard status
Active
APN
20-1271731
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2649
Tax Annual Amount
26490
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Separate Meters
Water source
Public
Building Details
Year built
1926
Floors in Building
3
Number of units
7
Building materials
Brick
Listing Agency:
Promise Realty LLC
(718) 445-0000
Listed By:
Hye E. Moon · License #10401211075
(718) 344-6565
Added: Sep 2
Changed: Sep 5
Last Checked: Sep 6 at 9:06PM
MLS# 1046885
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This seven-unit multifamily property in Elmhurst includes a mix of one-bedroom and three-bedroom apartments, with one-bedroom units on the first floor and three-bedroom units on the upper floors. The property also includes a basement, brick construction, natural-gas heating, and separate-meter cooling. On-street parking is available, and the building was constructed in 1926.
Located at 41-26 74th ST, the property is near subway and train service as well as stores and shops. It has R5 zoning and is served by public water and public sewer, with electricity available. The unit configuration includes two 1BR/1BA apartments, four 3BR/1BA apartments, and one basement 1BR/BA unit.
Located at 41-26 74th ST, the property is near subway and train service as well as stores and shops. It has R5 zoning and is served by public water and public sewer, with electricity available. The unit configuration includes two 1BR/1BA apartments, four 3BR/1BA apartments, and one basement 1BR/BA unit.
Key Highlights
- Seven‑unit multifamily property with two 1BR/1BA and four 3BR/1BA apartments
- Basement includes an additional 1BR/BA unit
- Brick building constructed in 1926
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
$61,551
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
3.73%
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%
$1,231,020
$1.2M
Cap Rate 7%
$879,300
$879.3K
Cap Rate 9%
$683,900
$683.9K
Market Conditions
NOI Build-Up for 2,518 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
$116.3K $46.20/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$111.9K $44.44/SF
− OpEx
−$50.4K −$20.00/SF
NOI
$61.6K $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 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%
$1,231,020
Cap Rate 7%
$879,300
Cap Rate 9%
$683,900
Alternative Uses
Best Use
Apartment 5plus
$879.3K
$769.4K – $1.03M
NOI $61,551 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.62M – $2.17M
NOI $129,941 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - Multifamily property with varied unit layouts, public utilities, and R5 zoning in Elmhurst.
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 $1,650,000.
What are key features of this property?
This property features: Seven‑unit multifamily property with two 1BR/1BA and four 3BR/1BA apartments; Basement includes an additional 1BR/BA unit; Brick building constructed in 1926
