Multi-Unit Residential Income
44 FIRST AVE Kings Park, NY 11754
44 FIRST AVE, Kings Park, NY, 11754
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For Sale
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Residential income property on a 1-acre parcel with multiple structures, including a two-family and additional cottage and garage/apartment.
Property Size3,374 SF
Price / SF$296.38
Days on Market55
Property Features for 44 FIRST AVE
General Information
- Standard status
- Active
- Size
- 3,374 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1897
Listing agency
Marcus & Millichap - Manhattan
(212) 430-5196
Listed by
Michael Tuccillo · License #NY 10401244358
Source
Crexi
Added: May 29 Updated: Jul 22 at 9:15AM Checked: Jul 22 at 9:15AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
The subject property is located on a 1.00-acre parcel and totals approximately +/- 3,374 square feet of building area. It includes a two-family residence, a cottage, and a garage/apartment building, providing a multi-structure residential income setup.
The property is situated near the Kings Park LIRR train station and is also close to local schools, parks, and a variety of restaurants and businesses. Public remarks note proximity to several national retailers, including Key Food, Verizon, 7-Eleven, and Dunkin’.
For investors or owner-operators seeking an income-producing residential property with multiple units across separate buildings, this offering provides a consolidated parcel configuration with distinct structures.
The property is situated near the Kings Park LIRR train station and is also close to local schools, parks, and a variety of restaurants and businesses. Public remarks note proximity to several national retailers, including Key Food, Verizon, 7-Eleven, and Dunkin’.
For investors or owner-operators seeking an income-producing residential property with multiple units across separate buildings, this offering provides a consolidated parcel configuration with distinct structures.
Key Highlights
- Year built 1897
- 1.00‑acre parcel with approximately +/- 3,374 SF of total space
- Multi‑structure residential income property with a two‑family plus a cottage
Local Financial Insights For Multifamily LT 5
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 | $99.2k | $29.40 |
| − Vacancy | −$6.1k | −$1.81 |
| EGI | $93.1k | $27.59 |
| − OpEx | −$27.9k | −$8.28 |
| NOI | $65.2k | $19.31 |
3,374 SF · lease $29.40/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$930.8K
$814.4K – $1.09M
NOI $65,153 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$856.6K
$749.6K – $999.4K
NOI $59,964 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$1.03M
$899.4K – $1.20M
NOI $71,951 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Residential income property on a 1-acre parcel with multiple structures, including a two-family and additional cottage and garage/apartment.
Where is this quadplex located?
The property is located at 44 FIRST AVE Kings Park, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Year built 1897; 1.00‑acre parcel with approximately +/- 3,374 SF of total space; Multi‑structure residential income property with a two‑family plus a cottage
