Three-Family Property with Double
For Sale
$1,950,000
4208 164th Street, Flushing, NY 11358
Multifamily property with split utilities, finished basement, balconies, and separate gas and electric meters.
Days on Market28
Property Features for 4208 164th Street
General Information
Standard status
Active
Total Parking Spaces
2
Property subtype
Triplex
Additional Details
Utilities to Site
Yes
Amenities
balconies
washer/dryer
Building Details
Building Size
2,693 SF
Year Built
2017
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
Century Homes Realty Group LLC
(646) 233-6608
Listed By:
Roger Liu
Source:
Cottiemaxwellrealestate
Added: Jul 5
Changed: Jul 31
Last Checked: Aug 1 at 11:15AM
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 LLC
Investment Insights
Based on property information with market context.
This three-family property was built in 2017 and has a 2019 C of O. The 25' x 40' building is arranged across 4 finished levels, with a 1BR/1BA first-floor unit and two upper-level 3BR/2BA units. The upper units include open-concept kitchens and living rooms, along with front and rear balconies. Split AC/heating units serve the property, and 4 separate gas and electric meters support fully split utilities.
The property also includes a full finished open basement with a washer/dryer and an outside separate entrance to the backyard. A front-and-back double-car garage provides on-site parking and additional enclosed space. The property is located steps from Sanford Ave and Northern Blvd, and 0.2 miles from the LIRR. It is offered occupied with long-time paying tenants and must close simultaneously with 42-10 164th St.
The property also includes a full finished open basement with a washer/dryer and an outside separate entrance to the backyard. A front-and-back double-car garage provides on-site parking and additional enclosed space. The property is located steps from Sanford Ave and Northern Blvd, and 0.2 miles from the LIRR. It is offered occupied with long-time paying tenants and must close simultaneously with 42-10 164th St.
Key Highlights
- Three‑family layout with one 1BR/1BA unit and two 3BR/2BA units
- 2019 C of O; 25' x 40' building across 4 finished levels
- 4 separate gas and electric meters with fully split utilities
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 | $124.4k | $46.20 |
| − Vacancy | −$4.7k | −$1.76 |
| EGI | $119.7k | $44.44 |
| − OpEx | −$53.9k | −$20.00 |
| NOI | $65.8k | $24.44 |
2,693 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$940.4K
$822.9K – $1.10M
NOI $65,829 @ 7.0% cap · market cap 3.38%
Second Best
Multifamily LT 5
$636.8K
$557.2K – $742.9K
NOI $44,573 @ 7.0% cap · market cap 2.29%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $138,972 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,149
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with split utilities, finished basement, balconies, and separate gas and electric meters.
Where is this triplex located?
The property is located at 4208 164th Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Three‑family layout with one 1BR/1BA unit and two 3BR/2BA units; 2019 C of O; 25' x 40' building across 4 finished levels; 4 separate gas and electric meters with fully split utilities
