Renovated Residential Income
For Sale
$600,000
46-01 39th Avenue 314, Queens, NY 11104
Two-bedroom residence with updated kitchen and bathroom finishes.
Property Size850 SF
Price / SF$705.88
Days on Market108
Property Features for 46-01 39th Avenue 314
General Information
Standard status
Active
Size
850 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
private swimming pool
BBQ area
Sunnyside Gardens Park membership
Building Details
Building Size
850 SF
Year Built
1961
Listing Agency:
Hauseit LLC
(888) 494-8258
Listed By:
Nick Oliver
(888) 494-8258
Source:
Howardhannanyc
Added: May 6
Changed: Aug 21
Last Checked: Aug 21 at 10:43AM
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 Hauseit LLC
Investment Insights
Based on property information with market context.
This 850-square-foot, two-bedroom residence in Sunnyside Towers was renovated with an expanded kitchen, white shaker cabinetry, quartz countertops, and a more open interior arrangement. The bathroom includes a heated LED mirror, rain shower, and handheld shower. Southern exposure provides natural light, while the second bedroom offers flexible space for a nursery, office, or guest room.
Building amenities include a private swimming pool and BBQ area, along with membership to Sunnyside Gardens Park, which features green space and tennis courts. The nearby 46th Street stop on the IRT Flushing Line provides direct service to Midtown Manhattan. Local cafés, bakeries, shops, parks, and a weekly farmers market are also within easy reach. A private garage space is available separately and may be negotiated with the sale. The building was constructed in 1961.
Building amenities include a private swimming pool and BBQ area, along with membership to Sunnyside Gardens Park, which features green space and tennis courts. The nearby 46th Street stop on the IRT Flushing Line provides direct service to Midtown Manhattan. Local cafés, bakeries, shops, parks, and a weekly farmers market are also within easy reach. A private garage space is available separately and may be negotiated with the sale. The building was constructed in 1961.
Key Highlights
- 850‑square‑foot renovated two‑bedroom residence
- Expanded kitchen with white shaker cabinets and quartz countertops
- Updated bathroom with heated LED mirror, rain shower, and handheld shower
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
$20,778
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
3.46%
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%
$415,560
$415.6K
Cap Rate 7%
$296,829
$296.8K
Cap Rate 9%
$230,867
$230.9K
Market Conditions
NOI Build-Up for 850 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
$39.3K $46.20/SF
− Vacancy
−$1.5K −$1.76/SF
EGI
$37.8K $44.44/SF
− OpEx
−$17.0K −$20.00/SF
NOI
$20.8K $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%
$415,560
Cap Rate 7%
$296,829
Cap Rate 9%
$230,867
Alternative Uses
Best Use
Apartment 5plus
$296.8K
$259.7K – $346.3K
NOI $20,778 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$626.6K
$548.3K – $731.1K
NOI $43,864 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,878
Businesses Nearby
Explore this area
Business Placement
Demographics for 11104, NY
27,407
Population
13,224
Households
2.1
Avg Household Size
39
Median Age
51%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
68,518
Density / Sq Mi
$84,716
Median Household Income
$60,346
Median Earnings
$1,924
Median Rent
$665,700
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom residence with updated kitchen and bathroom finishes.
Where is this residential income property located?
The property is located at 46-01 39th Avenue 314 Queens, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 850‑square‑foot renovated two‑bedroom residence; Expanded kitchen with white shaker cabinets and quartz countertops; Updated bathroom with heated LED mirror, rain shower, and handheld shower
