Six-Unit Apartment
New
For Sale
$2,688,000
43-65 156th Street, Flushing, NY 11355
Three-story multifamily property with separately heated apartments, on-site parking, and a finished basement with independent access.
Property Size4,914 SF
Price / SF$547.01
Days on Market7
Property Features for 43-65 156th Street
General Information
Standard status
Active
Size
4,914 SF
Property subtype
Multi Family
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$40,254
Amenities
fully finished basement with separate entrance
Building Details
Building Size
4,914 SF
Year Built
1986
Buildings
1
Stories
3
Listing Agency:
Winzone Realty Inc
(917) 480-1170
Listed By:
Kok Lim Tsun
Source:
Cbwarburg
Added: Aug 14
Changed: Aug 20
Last Checked: Aug 20 at 7:57AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This six-unit apartment building was constructed in 1986 and arranged across three floors, with two apartments per level. Each residence contains two bedrooms and one full bathroom, with approximately 800 square feet per unit. Individual boilers and tank water heaters serve the apartments, while tenants pay their own utilities. The building includes six parking spaces and one garage.
A fully finished basement with a separate entrance adds usable interior space. The property is located near a train station, shopping, and a supermarket in Flushing, New York. The building is described as free market and has a total property size of 4,914 square feet.
A fully finished basement with a separate entrance adds usable interior space. The property is located near a train station, shopping, and a supermarket in Flushing, New York. The building is described as free market and has a total property size of 4,914 square feet.
Key Highlights
- Six dwelling units arranged as two apartments on each of three floors
- Each unit includes 2 bedrooms, 1 full bath, and around 800 square feet
- Separate boiler and tank water heater for every apartment
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
$120,120
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
4.47%
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%
$2,402,400
$2.4M
Cap Rate 7%
$1,716,000
$1.7M
Cap Rate 9%
$1,334,667
$1.3M
Market Conditions
NOI Build-Up for 4,914 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
$227.0K $46.20/SF
− Vacancy
−$8.6K −$1.76/SF
EGI
$218.4K $44.44/SF
− OpEx
−$98.3K −$20.00/SF
NOI
$120.1K $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%
$2,402,400
Cap Rate 7%
$1,716,000
Cap Rate 9%
$1,334,667
Alternative Uses
Best Use
Apartment 5plus
$1.72M
$1.50M – $2.00M
NOI $120,120 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.62M
$3.17M – $4.23M
NOI $253,586 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
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?
Apartment building - Three-story multifamily property with separately heated apartments, on-site parking, and a finished basement with independent access.
Where is this apartment building located?
The property is located at 43-65 156th Street Flushing, NY.
What is the asking price?
The asking price for this property is $2,688,000.
What are key features of this property?
This property features: Six dwelling units arranged as two apartments on each of three floors; Each unit includes 2 bedrooms, 1 full bath, and around 800 square feet; Separate boiler and tank water heater for every apartment
