Ten-Unit Semi-Detached Apartment
For Sale
$1,498,000
4842 46th Street, Woodside, NY 11377
Semi-detached multifamily with studios, one- and two-bedroom units, plus a full basement with high ceilings and a backyard.
Property Size5,346 SF
Price / SF$280.21
Days on Market106
Property Features for 4842 46th Street
General Information
Standard status
Active
Size
5,346 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
10
Taxes and HOA fees
Annual Taxes
$30,291
Building Details
Building Size
5,346 SF
Year Built
1929
Listing Agency:
Prominent Properties Sotheby's
(201) 768-9300
Listed By:
Sharon Tolosa
Source:
Cbwarburg
Added: May 11
Changed: Aug 23
Last Checked: Aug 23 at 6:54AM
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 building is configured with a mix of studio, one-bedroom, and two-bedroom units. The property also includes a full basement with high ceilings and access to a backyard, providing additional usable space for day-to-day operations. The building is offered strictly as-is.
Located in Sunnyside near public transportation, schools, and shopping, the property benefits from convenient access to neighborhood amenities. It sits in Queens, where tenants typically value proximity to transit and everyday services.
For cash investors, this asset presents a straightforward opportunity to own and manage a multi-unit residential building with multiple unit types already in place. With a variety of studios and larger layouts, the property may appeal to a broad tenant mix while supporting an operator’s plan to reposition the asset based on its current configuration. The sale is restricted to cash buyers only and all offers should account for the property being delivered as-is.
Located in Sunnyside near public transportation, schools, and shopping, the property benefits from convenient access to neighborhood amenities. It sits in Queens, where tenants typically value proximity to transit and everyday services.
For cash investors, this asset presents a straightforward opportunity to own and manage a multi-unit residential building with multiple unit types already in place. With a variety of studios and larger layouts, the property may appeal to a broad tenant mix while supporting an operator’s plan to reposition the asset based on its current configuration. The sale is restricted to cash buyers only and all offers should account for the property being delivered as-is.
Key Highlights
- Ten‑unit semi‑detached multifamily building in Sunnyside
- Unit mix includes studio, 1‑bedroom, and 2‑bedroom apartments
- Full basement with high ceilings
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
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
3,458
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 - Semi-detached multifamily with studios, one- and two-bedroom units, plus a full basement with high ceilings and a backyard.
Where is this apartment building located?
The property is located at 4842 46th Street Woodside, 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: Ten‑unit semi‑detached multifamily building in Sunnyside; Unit mix includes studio, 1‑bedroom, and 2‑bedroom apartments; Full basement with high ceilings
