Two-Story Four-Unit
62-10 68th Avenue, Queens, NY 11385
For Sale
$1,675,000
Three residences have updated interiors, while the remaining apartment is vacant for occupancy or leasing.
Property Size3,800 SF
Days on Market10
Property Features for 62-10 68th Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Public Transit
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Compass
Listed By:
JOSHUA GOLAN
(718) 415-4410
Source:
Serhant
Added: Nov 4
Changed: Nov 11
Last Checked: Nov 12 at 1:43PM
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 Compass
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Investment Insights
Based on property information with market context.
This two-story quadplex contains four apartments, each configured with two bedrooms and one bathroom. Above-grade living space totals approximately 3,000 square feet, with an additional 800-square-foot basement for storage, bicycle parking, and building utilities. Three apartments have undergone gut renovations, and select units include private outdoor areas. Property improvements include a roof installed in 2020, replacement windows from 2023, a new boiler, four electric hot water heaters, and electrical system upgrades. The lot measures 25' x 55' x 100'.
Three apartments are occupied and one is vacant. The vacant unit can be used by an owner or offered for rent. The Fresh Pond Road M train station is approximately one block away. Myrtle Avenue, Grover Cleveland Park, and Highland Park are among the nearby neighborhood amenities.
Three apartments are occupied and one is vacant. The vacant unit can be used by an owner or offered for rent. The Fresh Pond Road M train station is approximately one block away. Myrtle Avenue, Grover Cleveland Park, and Highland Park are among the nearby neighborhood amenities.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- Approximately 3,000 square feet of above‑grade living space plus an 800‑square‑foot basement
- Three apartments have been gut‑renovated; one unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,901
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,878,020
$1.9M
Cap Rate 7%
$1,341,443
$1.3M
Cap Rate 9%
$1,043,344
$1.0M
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$145.9K $38.40/SF
− Vacancy
−$11.8K −$3.10/SF
EGI
$134.1K $35.30/SF
− OpEx
−$40.2K −$10.59/SF
NOI
$93.9K $24.71/SF
Area
Queens County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,878,020
Cap Rate 7%
$1,341,443
Cap Rate 9%
$1,043,344
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.17M – $1.57M
NOI $93,901 @ 7.0% cap · market cap 5.61%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,889 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,098 @ 7.0% cap · market cap 11.71%
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
2,275
Businesses Nearby
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Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Queens, NY
Properties on Market for Quadplexes in Queens
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Three residences have updated interiors, while the remaining apartment is vacant for occupancy or leasing.
Where is this quadplex located?
The property is located at 62-10 68th Avenue Queens, NY.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; Approximately 3,000 square feet of above‑grade living space plus an 800‑square‑foot basement; Three apartments have been gut‑renovated; one unit is vacant
