6-Unit Apartment
For Sale
$2,688,000
43-65 156th Street, Flushing, NY 11355
Three-story layout places two apartments on each level, with tenants responsible for their own utilities.
Property Size4,914 SF
Price / SF$547.01
Days on Market71
Property Features for 43-65 156th Street
General Information
Standard status
Active
Size
4,914 SF
Property subtype
Commercial
Zoning
R4-1
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$40,254
Amenities
finished basement
Building Details
Building Size
4,914 SF
Year Built
1986
Buildings
1
Stories
3
Units
6
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Kok Lim Tsun
(917) 480-1170
Source:
Croninreale
Added: Aug 14
Changed: Oct 23
Last Checked: Oct 23 at 3:14PM
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
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Investment Insights
Based on property information with market context.
This six-unit apartment property has three floors, with two apartments on each level. Each residence offers two bedrooms, one full bathroom and approximately 800 square feet. Separate boilers and tank water heaters serve the individual units, and tenants pay their own utilities. The building also includes a finished basement with a separate entrance, six parking spaces and one garage. Built in 1986, the property is zoned R4-1.
The property is near a train station, shopping and a supermarket.
The property is near a train station, shopping and a supermarket.
Key Highlights
- Six apartments across three floors, with two units on each level
- Each apartment has 2 bedrooms, 1 full bath and around 800 square feet
- Separate boiler and tank water heater for every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,120
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
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
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 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.
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Open Analytics
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story layout places two apartments on each level, with tenants responsible for their own utilities.
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 apartments across three floors, with two units on each level; Each apartment has 2 bedrooms, 1 full bath and around 800 square feet; Separate boiler and tank water heater for every unit
