Brick Multifamily Duplex Renovated
For Sale
$1,738,888
47-28 Parsons Boulevard, Flushing, NY 11355
MULTI_FAMILY - Flushing, NY
Property Size3,492 SF
Lot Size0.08 Acres
Price / SF$497.96
Days on Market23
Property Features for 47-28 Parsons Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Garage
Exterior features
Awning(s), Balcony, Lighting
Lot features
Corner Lot, Front Yard, On Golf Course, Paved
Elementary school
Ps 163 Flushing Heights
Middle school
Jhs 189 Daniel Carter Beard
High school
John Bowne High School
Elementary school district
Queens 25
Middle school district
Queens 25
High school district
Queens 25
Standard status
Active
APN
05221-0019
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14998
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Steam
Water source
Public
Building Details
Year built
1965
Number of units
2
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Chuan Wang Chen
(347) 755-9735
Added: Jul 10
Changed: Jul 31
Last Checked: Aug 1 at 7:06AM
MLS# 1024652
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick multifamily duplex is being sold as-is with all three tenants. The property is a corner oversized structure with updated kitchens and bathrooms on the 2nd and 3rd floors, with renovations completed in 2024. Interior living space is approximately 3,492 sq ft. Built in 1965, the home sits on a 33' x 112' lot with a 22' x 52' building, and includes exterior features such as awnings, a balcony, and lighting. Heating is steam, and parking is provided via a garage.
The property is located at 47-28 Parsons Boulevard in Flushing, Queens, near the Murray Hill LIRR Station for commuting into Manhattan. It is also described as being minutes from supermarkets, public transportation, and Downtown Flushing (Main Street). Water is available from the public system, with public sewer.
Showings are by appointment only, and the listing notes a stable, long-term tenant setup with an excellent payment history record.
The property is located at 47-28 Parsons Boulevard in Flushing, Queens, near the Murray Hill LIRR Station for commuting into Manhattan. It is also described as being minutes from supermarkets, public transportation, and Downtown Flushing (Main Street). Water is available from the public system, with public sewer.
Showings are by appointment only, and the listing notes a stable, long-term tenant setup with an excellent payment history record.
Key Highlights
- Corner oversized brick multifamily duplex sold as‑is with all three tenants
- Kitchens and bathrooms on 2nd and 3rd floors updated; renovated in 2024
- 33' x 112' lot with a 22' x 52' building
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
Multifamily LT 5
$825.7K
$722.5K – $963.3K
NOI $57,798 @ 7.0% cap · market cap 3.32%
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
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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?
Duplex - Updated kitchens and bathrooms on the upper floors, with steam heat, public water and sewer, and garage parking.
Where is this duplex 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: Corner oversized brick multifamily duplex sold as‑is with all three tenants; Kitchens and bathrooms on 2nd and 3rd floors updated; renovated in 2024; 33' x 112' lot with a 22' x 52' building
