Occupied Multifamily
For Sale
$1,738,888
47-28 Parsons Boulevard, Flushing, NY 11355
All three floors are occupied by long-term tenants, with renovated kitchens and bathrooms on the upper levels.
Property Size3,492 SF
Lot Size0.08 Acres
Price / SF$497.96
Days on Market27
Property Features for 47-28 Parsons Boulevard
General Information
Standard status
Active
Size
3,492 SF
Lot size
0.08 Acres
Property subtype
Duplex
Occupancy
100%
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$14,998
Building Details
Building Size
3,492 SF
Year Built
1965
Year Renovated
2024
Buildings
1
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
E Realty International Corp
(347) 755-9735
Listed By:
Chuan Wang Chen
Source:
Cbwarburg
Added: Jul 10
Changed: Aug 4
Last Checked: Aug 5 at 4:59AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This multifamily property contains approximately 3,492 square feet of living space within a 22' x 52' building on a 33' x 112' lot. The three-story building is occupied across all floors by long-term tenants and is being conveyed as-is. Kitchens and bathrooms on the second and third floors were renovated in 2024, while rental payment records can be provided upon request.
The property is positioned near the Murray Hill LIRR Station, supermarkets, public transportation, and Downtown Flushing’s Main Street. Its Flushing address places it within an established urban setting with access to rail and local services. Constructed in 1965, the building offers an income-producing multifamily configuration with existing occupancy in place.
The property is positioned near the Murray Hill LIRR Station, supermarkets, public transportation, and Downtown Flushing’s Main Street. Its Flushing address places it within an established urban setting with access to rail and local services. Constructed in 1965, the building offers an income-producing multifamily configuration with existing occupancy in place.
Key Highlights
- Approximately 3,492 SF of living space
- 33' x 112' lot with a 22' x 52' building
- All three floors occupied by long‑term tenants
Financial Insights For Apartment 5plus
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 | $161.3k | $46.20 |
| − Vacancy | −$6.1k | −$1.76 |
| EGI | $155.2k | $44.44 |
| − OpEx | −$69.8k | −$20.00 |
| NOI | $85.4k | $24.44 |
3,492 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,360 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $180,204 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,622
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?
Multifamily property - All three floors are occupied by long-term tenants, with renovated kitchens and bathrooms on the upper levels.
Where is this multifamily property located?
The property is located at 47-28 Parsons Boulevard Flushing, NY.
What is the asking price?
The asking price for this property is $1,738,888.
What are key features of this property?
This property features: Approximately 3,492 SF of living space; 33' x 112' lot with a 22' x 52' building; All three floors occupied by long‑term tenants
