Brick Four-Unit
New
For Sale
$1,450,000
54-47 83RD Street, Elmhurst, NY 11373
Residential Income, Elmhurst, NY
Property Size3,528 SF
Lot Size0.05 Acres
Price / SF$410
Days on Market2
Property Features for 54-47 83RD Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Basement, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 5, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 6, Bedroom 3
Parking features
Driveway
Basement
Full
Elementary school
Ps 58 School Of Heroes
Middle school
Is 73 Frank Sansivieri Intermediate School (The)
High school
Newtown High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
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
Wall/Window Unit(s), 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: Sep 18
Changed: Sep 19
Last Checked: Sep 19 at 6:06AM
MLS# 1052753
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.
This legal four-family property is a brick-built residential income asset completed in 1989. The building contains approximately 3,528 square feet within a 21-by-56-foot footprint and sits on a 21-by-100-foot lot. Interior rooms include six bedrooms, five bathrooms, and a basement. Heating is provided by baseboard systems, with wall and window cooling units. Driveway parking is available, and the property is served by public water and public sewer.
The property is located at 54-47 83RD Street in Elmhurst, Queens, within an established residential setting. Queens Center Mall, major shopping areas, and I-495 are nearby, providing access to retail and regional transportation routes. R5 zoning and the existing four-family configuration support its residential income use.
The property is located at 54-47 83RD Street in Elmhurst, Queens, within an established residential setting. Queens Center Mall, major shopping areas, and I-495 are nearby, providing access to retail and regional transportation routes. R5 zoning and the existing four-family configuration support its residential income use.
Key Highlights
- Legal four‑family property with approximately 3,528 sqft of building area
- 21 * 100 ft lot with a 21 * 56 ft building footprint
- R5 zoning and 0.0482‑acre 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
Lease Details
4
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 four-family building with driveway parking, public utilities, and R5 zoning.
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 four‑family property with approximately 3,528 sqft of building area; 21 * 100 ft lot with a 21 * 56 ft building footprint; R5 zoning and 0.0482‑acre lot
