Four-Unit Multifamily
New
For Sale
$1,499,000
60-64 54th Place, Maspeth, NY 11378
Four apartments are scheduled for delivery vacant, with a full basement accessed from outside.
Property Size2,750 SF
Price / SF$545.09
Days on Market2
Property Features for 60-64 54th Place
General Information
Standard status
Active
Size
2,750 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,466
Amenities
Bilco Door(s)
4
No
Yes
First Floor Bedroom,Eat-in Kitchen,Washer/Dryer Hookup
Public
On Street
2750
Building Details
Building Size
2,750 SF
Year Built
1915
Listing Agency:
Signature Premier Properties
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 31
Last Checked: Oct 31 at 2:23PM
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 Signature Premier Properties
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Investment Insights
Based on property information with market context.
Built in 1915, this 2,750-square-foot, four-unit property has railroad-style apartments, each arranged with a kitchen, living room, office or bonus room, bedroom, and bathroom. A full basement has an exterior entrance. The building is being sold in its present condition, and buyers should verify the intended use and layout with the NYCDOB.
The property is 1 mile from the M Train, 4.5 miles from the Midtown Tunnel, 4.6 miles from the Williamsburg Bridge, and 6.2 miles from the 59th St Bridge. All four apartments are to be vacant at closing.
The property is 1 mile from the M Train, 4.5 miles from the Midtown Tunnel, 4.6 miles from the Williamsburg Bridge, and 6.2 miles from the 59th St Bridge. All four apartments are to be vacant at closing.
Key Highlights
- Four apartments, all to be vacant at closing
- 2,750 square feet; built in 1915
- Each unit has a kitchen, living room, office or bonus room, bedroom, and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,222
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,344,440
$1.3M
Cap Rate 7%
$960,314
$960.3K
Cap Rate 9%
$746,911
$746.9K
Market Conditions
NOI Build-Up for 2,750 SF
Gross rent
$127.1K $46.20/SF
− Vacancy
−$4.8K −$1.76/SF
EGI
$122.2K $44.44/SF
− OpEx
−$55.0K −$20.00/SF
NOI
$67.2K $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 Rate 5%
$1,344,440
Cap Rate 7%
$960,314
Cap Rate 9%
$746,911
Alternative Uses
Best Use
Apartment 5plus
$960.3K
$840.3K – $1.12M
NOI $67,222 @ 7.0% cap · market cap 4.48%
Second Best
Multifamily LT 5
$650.2K
$569.0K – $758.6K
NOI $45,517 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$2.03M
$1.77M – $2.37M
NOI $141,913 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,766
Businesses Nearby
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Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments are scheduled for delivery vacant, with a full basement accessed from outside.
Where is this quadplex located?
The property is located at 60-64 54th Place Maspeth, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Four apartments, all to be vacant at closing; 2,750 square feet; built in 1915; Each unit has a kitchen, living room, office or bonus room, bedroom, and bathroom
