Twelve-Unit Multifamily
41-32 53rd Street Flushing, NY 11377
New
41-32 53rd Street, Flushing, NY, 11377
$3,350,000
For Sale
$3,350,000
Twelve well-maintained units include 6 large studios and 6 one-bedrooms with updated kitchens and baths.
Property Size7,560 SF
Price / SF$443.12
Days on Market6
Property Features for 41-32 53rd Street
General Information
- Standard status
- Active
- Size
- 7,560 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1931
Listing agency
Get Listed Realty
(516) 992-2888
Listed by
Kris J. Lippi ([email protected])
Source
Iaquintarealestate
Added: Jul 17 Updated: Jul 21 at 8:59PM Checked: Jul 22 at 4:48AM
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 Get Listed Realty
Investment Insights
Based on property information with market context.
This well-maintained twelve-unit multifamily building offers a mix of 6 one-bedroom apartments and 6 large studios. The units feature high ceilings, wood floors, custom insulated windows, abundant natural light, and updated kitchens and baths. The building is described as lead free and has gas heat and hot water. There is also a usable full unfinished basement with walk-out access. In addition, the property includes approximately 1,381 square feet of additional buildable space that could support additional residential dwellings, retail, professional space, or a combination.
The property is located in Sunnyside-Woodside, with walking distance to the LIRR and approximately 15 minutes to Manhattan per the public remarks. The lot is described as multi-zoned, with zoning listed as R5, R5D, and C1-4, supporting residential or mixed residential/commercial use.
According to the public remarks, the super supports easy self-management, and the building has high legal rents with reasonable expenses. The public remarks also state a cap rate above 7%.
The property is located in Sunnyside-Woodside, with walking distance to the LIRR and approximately 15 minutes to Manhattan per the public remarks. The lot is described as multi-zoned, with zoning listed as R5, R5D, and C1-4, supporting residential or mixed residential/commercial use.
According to the public remarks, the super supports easy self-management, and the building has high legal rents with reasonable expenses. The public remarks also state a cap rate above 7%.
Key Highlights
- 12‑family building (built 1931) with 6 large studios and 6 one‑bedrooms
- Updated kitchens and baths; high ceilings and wood floors in all apartments
- Custom insulated windows for abundant natural light; gas heat and gas hot water
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $349.3k | $46.20 |
| − Vacancy | −$13.3k | −$1.76 |
| EGI | $336.0k | $44.44 |
| − OpEx | −$151.2k | −$20.00 |
| NOI | $184.8k | $24.44 |
7,560 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.64M
$2.31M – $3.08M
NOI $184,800 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.57M
$4.88M – $6.50M
NOI $390,132 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Twelve well-maintained units include 6 large studios and 6 one-bedrooms with updated kitchens and baths.
Where is this apartment building located?
The property is located at 41-32 53rd Street Flushing, NY.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 12‑family building (built 1931) with 6 large studios and 6 one‑bedrooms; Updated kitchens and baths; high ceilings and wood floors in all apartments; Custom insulated windows for abundant natural light; gas heat and gas hot water
