8-Unit Multifamily
For Sale
Contact for pricing
42-08 164th Street, Flushing, NY 11358
For sale 8-unit multifamily property with apartment building configuration.
Property Size8,000 SF
Price / SF$487.50
Days on Market100
Property Features for 42-08 164th Street
General Information
Standard status
Active
Size
8,000 SF
Class
A
Total Parking Spaces
4
Property subtype
Multifamily
Investment Type
Net Lease
Additional Details
Multifamily Units
8
Building Details
Year Built
2019
Units
8
Tenancy
Multi
Listing Agency:
Century Homes Realty Group
Listed By:
Roger Liu · License #NY 10301219442
(646) 233-6608
Source:
Crexi
Added: Jul 3
Changed: Oct 7
Last Checked: Oct 9 at 8:19PM
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 Century Homes Realty Group
Investment Insights
Based on property information with market context.
This for-sale multifamily property is configured as an 8-unit apartment building.
The offering is located at 42-08 164th Street in Flushing, New York.
The property is presented as a residential income asset with a total size of approximately 8,000 square feet, reflecting its small multi-unit apartment structure.
The offering is located at 42-08 164th Street in Flushing, New York.
The property is presented as a residential income asset with a total size of approximately 8,000 square feet, reflecting its small multi-unit apartment structure.
Key Highlights
- 8‑unit multifamily property (apartment building configuration)
- Built in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$195,555
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,911,100
$3.9M
Cap Rate 7%
$2,793,643
$2.8M
Cap Rate 9%
$2,172,833
$2.2M
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$369.6K $46.20/SF
− Vacancy
−$14.0K −$1.76/SF
EGI
$355.6K $44.44/SF
− OpEx
−$160.0K −$20.00/SF
NOI
$195.6K $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%
$3,911,100
Cap Rate 7%
$2,793,643
Cap Rate 9%
$2,172,833
Alternative Uses
Best Use
Apartment 5plus
$2.79M
$2.44M – $3.26M
NOI $195,555 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.90M
$5.16M – $6.88M
NOI $412,838 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
765
Businesses Nearby
Explore this area
Business Placement
Demographics for 11358, NY
40,435
Population
13,806
Households
2.9
Avg Household Size
43
Median Age
37%
College-Educated
84%
High-School Grad
2.0 sq mi
ZIP Area
20,218
Density / Sq Mi
$88,729
Median Household Income
$46,875
Median Earnings
$2,086
Median Rent
$967,200
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
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Frequently Asked Questions
What type of property is this?
Apartment building - For sale 8-unit multifamily property with apartment building configuration.
Where is this apartment building located?
The property is located at 42-08 164th Street Flushing, NY.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 8‑unit multifamily property (apartment building configuration); Built in 2019
