12-Unit Brick Apartment
53 53st, Woodside, NY 11377
For Sale
$2,588,888
Rent-stabilized residences include recent apartment upgrades, a new roof and boiler, and on-site storage bins.
Property Size6,324 SF
Price / SF$409.38
Days on Market193
Property Features for 53 53st
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Tenant in Place
Amenities
on-site storage
Building Details
Year Built
Buildings
Stories
Construction
Listing Agency:
ONE STOP MULTISERVICE INC
Listed By:
Raymond Rivera
(718) 554-0257
Source:
Crystinandcorealty
Added: Apr 30
Changed: Nov 6
Last Checked: Nov 7 at 12:48PM
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 ONE STOP MULTISERVICE INC
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Investment Insights
Based on property information with market context.
Built in 1928, this 12-unit brick apartment building contains approximately 6,324 square feet of residential space. Seven apartments have been renovated with updated kitchens and bathrooms, new flooring, and energy-efficient windows. Several units also have updated electrical and plumbing systems. The property has a new roof and boiler, and storage bins on site provide additional income. Five apartments remain unrenovated; any future work would be subject to applicable rent stabilization guidelines.
The building is within walking distance of the 7 Train. Shopping, supermarkets, restaurants, cafes, parks, and schools are also accessible in the surrounding area. The property is in Woodside, Queens, and the source describes Midtown Manhattan as approximately a 12-minute commute away.
The building is within walking distance of the 7 Train. Shopping, supermarkets, restaurants, cafes, parks, and schools are also accessible in the surrounding area. The property is in Woodside, Queens, and the source describes Midtown Manhattan as approximately a 12-minute commute away.
Key Highlights
- 12 residential units in a brick building constructed in 1928
- Approximately 6,324 square feet of residential space
- Seven apartments renovated; five remain unrenovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,587
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,091,740
$3.1M
Cap Rate 7%
$2,208,386
$2.2M
Cap Rate 9%
$1,717,633
$1.7M
Market Conditions
NOI Build-Up for 6,324 SF
Gross rent
$292.2K $46.20/SF
− Vacancy
−$11.1K −$1.76/SF
EGI
$281.1K $44.44/SF
− OpEx
−$126.5K −$20.00/SF
NOI
$154.6K $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%
$3,091,740
Cap Rate 7%
$2,208,386
Cap Rate 9%
$1,717,633
Alternative Uses
Best Use
Apartment 5plus
$2.21M
$1.93M – $2.58M
NOI $154,587 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.66M
$4.08M – $5.44M
NOI $326,349 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
4,276
Businesses Nearby
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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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Market
Properties on Market for Apartment buildings in Woodside
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Rent-stabilized residences include recent apartment upgrades, a new roof and boiler, and on-site storage bins.
Where is this apartment building located?
The property is located at 53 53st Woodside, NY.
What is the asking price?
The asking price for this property is $2,588,888.
What are key features of this property?
This property features: 12 residential units in a brick building constructed in 1928; Approximately 6,324 square feet of residential space; Seven apartments renovated; five remain unrenovated
