Six-Unit Brick Apartment
New
For Sale
$1,500,000
4749 46th Street, Woodside, NY 11377
Semi-detached brick property with gas heat, a full basement, and a mix of apartment layouts.
Property Size4,500 SF
Days on Market5
Property Features for 4749 46th Street
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Multi Family
Net Operating Income
$87,984
Units
Unit Mix
5 x 2BR, 1 x 1BR
Multifamily Units
6
Additional Details
Gross Income
$142,824
Taxes and HOA fees
Annual Taxes
$21,809
Building Details
Building Size
4,500 SF
Year Built
1928
Construction
brick
Listing Agency:
Keller Williams Rlty Landmark
Listed By:
Helen Arapis · License #10401313886
(718) 316-0667
Source:
Serhant
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 13 at 11:39AM
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 Keller Williams Rlty Landmark
Investment Insights
Based on property information with market context.
This six-unit apartment building at 4749 46th Street in Woodside, NY, was constructed in 1928. The semi-detached property has all-brick construction, is described as being in good condition, and is heated by gas. The unit mix includes five two-bedroom apartments and one one-bedroom apartment.
A full basement provides additional building space, and DHCR records are up to date. The property is located in Queens at 4749 46th Street, Woodside, NY 11377.
A full basement provides additional building space, and DHCR records are up to date. The property is located in Queens at 4749 46th Street, Woodside, NY 11377.
Key Highlights
- Six apartments: five two‑bedroom units and one one‑bedroom unit
- All‑brick, semi‑detached construction
- Built in 1928
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
$110,000
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
7.33%
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%
$2,200,000
$2.2M
Cap Rate 7%
$1,571,429
$1.6M
Cap Rate 9%
$1,222,222
$1.2M
Market Conditions
NOI Build-Up for 4,500 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
$207.9K $46.20/SF
− Vacancy
−$7.9K −$1.76/SF
EGI
$200.0K $44.44/SF
− OpEx
−$90.0K −$20.00/SF
NOI
$110.0K $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%
$2,200,000
Cap Rate 7%
$1,571,429
Cap Rate 9%
$1,222,222
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.38M – $1.83M
NOI $110,000 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.32M
$2.90M – $3.87M
NOI $232,222 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,409
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Semi-detached brick property with gas heat, a full basement, and a mix of apartment layouts.
Where is this apartment building located?
The property is located at 4749 46th Street Woodside, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Six apartments: five two‑bedroom units and one one‑bedroom unit; All‑brick, semi‑detached construction; Built in 1928
