6-Unit Apartment
New
For Sale
$1,650,000
5209 Skillman Ave, Queens, NY 11377
Six three-bedroom residences are complemented by an unfinished basement for storage and utility space.
Property Size5,208 SF
Lot Size0.06 Acres
Price / SF$316.82
Days on Market1
Property Features for 5209 Skillman Ave
General Information
Standard status
Active
Size
5,208 SF
Lot size
0.06 Acres
Property subtype
Commercial
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
6 x 3BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$22,464
Building Details
Building Size
5,208 SF
Year Built
1924
Units
6
Listing Agency:
real estate corp
Listed By:
Mei D. Xiao · License #10401297242
(646) 707-8701
Source:
Elliman
Added: Oct 19
Last Checked: Oct 19 at 2:18PM
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 real estate corp
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This six-unit apartment building at 5209 Skillman Ave contains approximately 5,208 sq. ft. across a 2,717 sq. ft. lot. Each residence has three bedrooms and one full bathroom. The building also has an unfinished basement and seven electric meters and seven gas meters. Built in 1924, it offers a defined residential configuration with additional basement space.
The property sits near the Sunnyside-Woodside border, within reach of the 52nd Street 7 subway station and Woodside LIRR station. Supermarkets, shops, cafés, and restaurants are found along Skillman Avenue, with Windmuller Park and Doughboy Park also nearby. Walk Score is 79, Bike Score is 84, and Transit Score is 100.
The property sits near the Sunnyside-Woodside border, within reach of the 52nd Street 7 subway station and Woodside LIRR station. Supermarkets, shops, cafés, and restaurants are found along Skillman Avenue, with Windmuller Park and Doughboy Park also nearby. Walk Score is 79, Bike Score is 84, and Transit Score is 100.
Key Highlights
- Six apartments, each with three bedrooms and one full bathroom
- Approximately 5,208 sq. ft. of building area on a 2,717 sq. ft. lot
- Seven electric meters and seven gas meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,307
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,546,140
$2.5M
Cap Rate 7%
$1,818,671
$1.8M
Cap Rate 9%
$1,414,522
$1.4M
Market Conditions
NOI Build-Up for 5,208 SF
Gross rent
$240.6K $46.20/SF
− Vacancy
−$9.1K −$1.76/SF
EGI
$231.5K $44.44/SF
− OpEx
−$104.2K −$20.00/SF
NOI
$127.3K $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%
$2,546,140
Cap Rate 7%
$1,818,671
Cap Rate 9%
$1,414,522
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.59M – $2.12M
NOI $127,307 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.84M
$3.36M – $4.48M
NOI $268,758 @ 7.0% cap · market cap 16.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,381
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
Frequently Asked Questions
What type of property is this?
Apartment building - Six three-bedroom residences are complemented by an unfinished basement for storage and utility space.
Where is this apartment building located?
The property is located at 5209 Skillman Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Six apartments, each with three bedrooms and one full bathroom; Approximately 5,208 sq. ft. of building area on a 2,717 sq. ft. lot; Seven electric meters and seven gas meters
