Sunnyside Multifamily Investment
For Sale
$1,498,000
4842 46th St, Queens, NY 11377
Ten-unit building near transportation, schools, and shopping.
Property Size5,346 SF
Days on Market107
Property Features for 4842 46th St
General Information
Standard status
Active
Size
5,346 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$30,291
Building Details
Building Size
5,346 SF
Year Built
1929
Units
10
Listing Agency:
Prominent Properties Sotheby's
(201) 768-9300
Listed By:
Sharon Tolosa
(201) 768-9300
Source:
Elliman
Added: May 12
Changed: Aug 8
Last Checked: Aug 25 at 7:38AM
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 Prominent Properties Sotheby's
Investment Insights
Based on property information with market context.
This ten-unit, semi-detached multifamily property is located in Sunnyside, Queens, offering convenient access to public transportation, schools, shopping, and local amenities. The building comprises a combination of two-bedroom, one-bedroom, and studio apartments. It also features a full basement with high ceilings and a backyard. The property is being sold in as-is condition, presenting an opportunity for cash investors to reposition and maximize its potential within a desirable Queens location. The area is considered very bikeable and walkable, with excellent public transportation options.
Key Highlights
- Prime Sunnyside location in Queens, near public transportation, schools, shopping, and neighborhood conveniences.
- Multifamily property with a mix of two‑bedroom, one‑bedroom, and studio units.
- High walk score (80) and transit score (78).
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
$130,680
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
8.72%
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%
$2,613,600
$2.6M
Cap Rate 7%
$1,866,857
$1.9M
Cap Rate 9%
$1,452,000
$1.5M
Market Conditions
NOI Build-Up for 5,346 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
$247.0K $46.20/SF
− Vacancy
−$9.4K −$1.76/SF
EGI
$237.6K $44.44/SF
− OpEx
−$106.9K −$20.00/SF
NOI
$130.7K $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%
$2,613,600
Cap Rate 7%
$1,866,857
Cap Rate 9%
$1,452,000
Alternative Uses
Best Use
Apartment 5plus
$1.87M
$1.63M – $2.18M
NOI $130,680 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.94M
$3.45M – $4.60M
NOI $275,879 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,460
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Ten-unit building near transportation, schools, and shopping.
Where is this apartment building located?
The property is located at 4842 46th St Queens, NY.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Prime Sunnyside location in Queens, near public transportation, schools, shopping, and neighborhood conveniences.; Multifamily property with a mix of two‑bedroom, one‑bedroom, and studio units.; High walk score (80) and transit score (78).
