Six-Unit Walk-Up Apartment
For Sale
$1,500,000
48-14 48th Street, Sunnyside, NY 11377
The building combines free-market and rent-stabilized apartments in a six-residence configuration.
Property Size3,960 SF
Lot Size0.06 Acres
Price / SF$378.79
Days on Market75
Property Features for 48-14 48th Street
General Information
Standard status
Active
Size
3,960 SF
Lot size
0.06 Acres
Property subtype
Multi-Unit (5+)
Zoning
R5 / C1-2
Occupancy
100%
Units
Unit Mix
5 x 2BR, 1 x 1BR
Multifamily Units
6
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Building Details
Buildings
1
Listing Agency:
GRAVITY REAL ESTATE ADVISORS LLC
Listed By:
Dimitrios Kapelonis
(917) 579-1373
Source:
Gosenproperties
Added: Aug 18
Changed: Oct 28
Last Checked: Oct 28 at 4:20PM
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 GRAVITY REAL ESTATE ADVISORS LLC
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Investment Insights
Based on property information with market context.
This six-family walk-up contains 3,960 square feet on a 25 x 100 lot. Its apartment mix consists of five two-bedroom units and one one-bedroom unit. Two apartments are free market, while four are rent stabilized; all six are rented. The property carries R5 / C1-2 zoning.
The building is at 48-14 48th Street in Sunnyside, Queens. The 46th St-Bliss St and 52nd St stations on the 7 train serve the area, with the trip to Grand Central described as roughly 10 minutes.
The building is at 48-14 48th Street in Sunnyside, Queens. The 46th St-Bliss St and 52nd St stations on the 7 train serve the area, with the trip to Grand Central described as roughly 10 minutes.
Key Highlights
- Six apartments: five two‑bedroom units and one one‑bedroom unit
- All six apartments are rented; two are free market and four are rent stabilized
- 3,960 square feet on a 25 x 100 lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,800
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,936,000
$1.9M
Cap Rate 7%
$1,382,857
$1.4M
Cap Rate 9%
$1,075,556
$1.1M
Market Conditions
NOI Build-Up for 3,960 SF
Gross rent
$183.0K $46.20/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$176.0K $44.44/SF
− OpEx
−$79.2K −$20.00/SF
NOI
$96.8K $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 Rate 5%
$1,936,000
Cap Rate 7%
$1,382,857
Cap Rate 9%
$1,075,556
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,800 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.92M
$2.55M – $3.41M
NOI $204,355 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,377
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The building combines free-market and rent-stabilized apartments in a six-residence configuration.
Where is this apartment building located?
The property is located at 48-14 48th Street Sunnyside, 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 six apartments are rented; two are free market and four are rent stabilized; 3,960 square feet on a 25 x 100 lot
