Legal Four-Family
New
For Sale
$1,450,000
54-47 83RD Street, Elmhurst, NY 11373
Income-producing residential property with four legal family units in an established Elmhurst community.
Property Size3,528 SF
Days on Market7
Property Features for 54-47 83RD Street
General Information
Standard status
Active
Size
3,528 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$39,239
Building Details
Building Size
3,528 SF
Year Built
1989
Listing Agency:
E Realty International Corp
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Source:
Barbieliteam
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 22 at 10:31PM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This legal four-family property provides a residential income configuration within a building measuring approximately 3,528 square feet. Constructed in 1989, the property occupies a 21 × 100 ft lot and includes a 21 × 56 ft building footprint. R5 zoning supports its established residential use, while the four-family layout offers a clear multifamily profile for investors.
The property is located at 54-47 83RD Street in Elmhurst, NY 11373, near Queens Center Mall and major shopping areas. Access to I-495, also known as the Long Island Expressway, places the property within reach of regional transportation and nearby everyday amenities. The surrounding area is described as an established residential community with rental demand.
The property is located at 54-47 83RD Street in Elmhurst, NY 11373, near Queens Center Mall and major shopping areas. Access to I-495, also known as the Long Island Expressway, places the property within reach of regional transportation and nearby everyday amenities. The surrounding area is described as an established residential community with rental demand.
Key Highlights
- Legal 4‑family property in Elmhurst, NY
- Approximately 3,528 sqft of building area
- 21 × 56 ft building on a 21 × 100 ft lot
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
$86,240
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
5.95%
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%
$1,724,800
$1.7M
Cap Rate 7%
$1,232,000
$1.2M
Cap Rate 9%
$958,222
$958.2K
Market Conditions
NOI Build-Up for 3,528 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
$163.0K $46.20/SF
− Vacancy
−$6.2K −$1.76/SF
EGI
$156.8K $44.44/SF
− OpEx
−$70.6K −$20.00/SF
NOI
$86.2K $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%
$1,724,800
Cap Rate 7%
$1,232,000
Cap Rate 9%
$958,222
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,240 @ 7.0% cap · market cap 5.95%
Second Best
Multifamily LT 5
$834.2K
$729.9K – $973.2K
NOI $58,394 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$2.60M
$2.28M – $3.03M
NOI $182,062 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,549
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing residential property with four legal family units in an established Elmhurst community.
Where is this quadplex located?
The property is located at 54-47 83RD Street Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Legal 4‑family property in Elmhurst, NY; Approximately 3,528 sqft of building area; 21 × 56 ft building on a 21 × 100 ft lot
