Brick Quadplex with Driveway
For Sale
$1,550,000
54-47 83RD Street, Elmhurst, NY 11373
MULTI_FAMILY - Elmhurst, NY
Property Size3,528 SF
Lot Size0.05 Acres
Price / SF$439.34
Days on Market150
Property Features for 54-47 83RD Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking features
Driveway
Basement
Full
Standard status
Active
APN
02905-0178
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
39239
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1989
Number of units
4
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Added: Mar 16
Changed: Jul 31
Last Checked: Aug 12 at 11:06PM
MLS# 972492
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Well-maintained legal 4-family quadplex featuring brick construction. The property includes approximately 3,528 sqft of building area with dimensions of 21 * 56 ft, set on a 21 * 100 ft lot (0.0482 acres). Built in 1989, it is served by public water and public sewer. Heating is baseboard, with window unit and wall/window unit cooling, and the property includes a basement.
Located in Elmhurst, the property is described as being conveniently close to Queens Center Mall, major shopping areas, and I-495 (Long Island Expressway).
Zoned R5, this income-producing quadplex is currently operated as a 4-family residential property with stable rental demand.
Located in Elmhurst, the property is described as being conveniently close to Queens Center Mall, major shopping areas, and I-495 (Long Island Expressway).
Zoned R5, this income-producing quadplex is currently operated as a 4-family residential property with stable rental demand.
Key Highlights
- Legal 4‑family quadplex with brick construction
- Approximately 3,528 sqft building area (21 * 56 ft)
- 21 * 100 ft lot (0.0482 acres)
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
5.56%
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 5.56%
Second Best
Multifamily LT 5
$834.2K
$729.9K – $973.2K
NOI $58,394 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$2.60M
$2.28M – $3.03M
NOI $182,062 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,631
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Legal 4-family quadplex in R5 zoning with brick construction, public utilities, and driveway parking in Elmhurst.
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 $1,550,000.
What are key features of this property?
This property features: Legal 4‑family quadplex with brick construction; Approximately 3,528 sqft building area (21 * 56 ft); 21 * 100 ft lot (0.0482 acres)
