Triplex With Split
For Sale
$1,950,000
4210 164th Street, Flushing, NY 11358
Three-family property with separately metered utilities, a finished basement, and front-and-back garage parking.
Property Size2,693 SF
Days on Market37
Property Features for 4210 164th Street
General Information
Standard status
Active
Size
2,693 SF
Total Parking Spaces
2
Property subtype
Triplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 2 x 3BR/2BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$14,054
Amenities
split AC/heating units
front-and-back double-car garage
balconies
washer/dryer
full finished open basement
separate outside entrance
Building Details
Building Size
2,693 SF
Year Built
2017
Buildings
1
Listing Agency:
Century Homes Realty Group LLC
(646) 233-6608
Listed By:
Roger Liu · License #10301219442
Source:
Cottiemaxwellrealestate
Added: Jul 5
Changed: Aug 9
Last Checked: Aug 9 at 5:37PM
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 has four finished levels and a 25' x 40' building footprint. The unit mix includes a one-bedroom, one-bath residence on the first floor and two matching three-bedroom, two-bath upper-level units. Each upper unit includes an open kitchen and living area with balconies at the front and rear. Split AC and heating units serve the residences, while four separate gas and electric meters support individually divided utilities.
The property also includes a full finished open basement with a washer/dryer and a separate outside entrance leading to the backyard. A front-and-back double-car garage provides enclosed parking. Sanford Ave and Northern Blvd are nearby, and the LIRR is 0.2 miles away. The property is offered occupied with long-time paying tenants and may be sold together with the adjacent property at 42-08 164th St, subject to simultaneous closing.
The property also includes a full finished open basement with a washer/dryer and a separate outside entrance leading to the backyard. A front-and-back double-car garage provides enclosed parking. Sanford Ave and Northern Blvd are nearby, and the LIRR is 0.2 miles away. The property is offered occupied with long-time paying tenants and may be sold together with the adjacent property at 42-08 164th St, subject to simultaneous closing.
Key Highlights
- Three‑family layout with 1BR/1BA first‑floor unit and two 3BR/2BA upper units
- Four finished levels in a 25' x 40' building
- 4 separate gas and electric meters with fully split utilities
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
$65,829
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
3.38%
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%
$1,316,580
$1.3M
Cap Rate 7%
$940,414
$940.4K
Cap Rate 9%
$731,433
$731.4K
Market Conditions
NOI Build-Up for 2,693 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
$124.4K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$119.7K $44.44/SF
− OpEx
−$53.9K −$20.00/SF
NOI
$65.8K $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%
$1,316,580
Cap Rate 7%
$940,414
Cap Rate 9%
$731,433
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
3
Residential units
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 - Three-family property with separately metered utilities, a finished basement, and front-and-back garage parking.
Where is this triplex located?
The property is located at 4210 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 1BR/1BA first‑floor unit and two 3BR/2BA upper units; Four finished levels in a 25' x 40' building; 4 separate gas and electric meters with fully split utilities
