Two 3-Family Residential Income
For Sale
$3,900,000
4208 & 4210 164th Street Flushing, Ny, NY 11358
Package sale of two 3-family properties with split utilities, multiple finished levels, and a front-and-back double-car garage.
Property Size5,386 SF
Price / SF$724.10
Days on Market50
Property Features for 4208 & 4210 164th Street Flushing
General Information
Standard status
Active
Size
5,386 SF
Total Parking Spaces
2
Zoning
R5B
Taxes and HOA fees
Annual Taxes
$30,526
Amenities
Finished,Full,Walk-Out Access
Hardwood
1 Common Wall
Yes
Finished, Full, Walk-Out Access
Back Yard
Public
2
No
Driveway, Garage
Concrete Perimeter
5386
Building Details
Building Size
5,386 SF
Year Built
2017
Listing Agency:
(718) 684-8000
Listed By:
Kevin Baijnauth
(718) 684-8000
Source:
Parkassets
Added: Jul 10
Changed: Aug 23
Last Checked: Aug 28 at 7:48AM
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 Kevin Baijnauth
Investment Insights
Based on property information with market context.
Two 3-family-house residential income buildings are offered for sale as a package, presented as mint-condition “663 style” properties with a 2019 Certificate of Occupancy. Each building is described as having fully split gas and electric utilities across four finished levels, along with split AC/heating units. The unit mix includes a 1BR/1BA first-floor unit and two identical 3BR/2BA upper units with open-concept kitchens and living rooms, plus front and back balconies. A fully finished open basement includes a washer/dryer and an outside separate entrance to the backyard.
The package is located steps from Sanford Ave and Northern Blvd, with the LIRR approximately 0.2 miles away, supporting convenient access for tenants and occupants.
The listing notes four gas and electric meters total and a rare front-and-back double-car garage. The seller also indicates a preference for the properties to be sold occupied with long-time paying tenants.
The package is located steps from Sanford Ave and Northern Blvd, with the LIRR approximately 0.2 miles away, supporting convenient access for tenants and occupants.
The listing notes four gas and electric meters total and a rare front-and-back double-car garage. The seller also indicates a preference for the properties to be sold occupied with long-time paying tenants.
Key Highlights
- Package sale: two 3‑family properties with 4 separate gas and electric meters and split utilities
- 2017‑built 3‑family with 4 finished levels and a finished full walk‑out basement with OSE to the backyard
- 2‑car front‑and‑back double‑car garage with driveway and garage parking (2 total spaces)
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
$182,282
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
4.67%
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%
$3,645,640
$3.6M
Cap Rate 7%
$2,604,029
$2.6M
Cap Rate 9%
$2,025,356
$2.0M
Market Conditions
NOI Build-Up for 5,386 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
$274.7K $51.00/SF
− Vacancy
−$14.3K −$2.65/SF
EGI
$260.4K $48.35/SF
− OpEx
−$78.1K −$14.50/SF
NOI
$182.3K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,645,640
Cap Rate 7%
$2,604,029
Cap Rate 9%
$2,025,356
Alternative Uses
Best Use
Multifamily LT 5
$2.60M
$2.28M – $3.04M
NOI $182,282 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$2.41M
$2.11M – $2.81M
NOI $168,513 @ 7.0% cap · market cap 4.32%
Theoretical Best
Specialty Retail
$13.41M
$11.73M – $15.64M
NOI $938,457 @ 7.0% cap · market cap 24.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,015
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 - Package sale of two 3-family properties with split utilities, multiple finished levels, and a front-and-back double-car garage.
Where is this triplex located?
The property is located at 4208 & 4210 164th Street Flushing Ny, 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: Package sale: two 3‑family properties with 4 separate gas and electric meters and split utilities; 2017‑built 3‑family with 4 finished levels and a finished full walk‑out basement with OSE to the backyard; 2‑car front‑and‑back double‑car garage with driveway and garage parking (2 total spaces)
