Four-Unit Multifamily
62-10 68th Avenue, Queens, NY 11385
For Sale
New
$1,675,000
Three apartments have updated interiors, and one residence is vacant.
Property Size3,800 SF
Price / SF$440.79
Days on Market4
Property Features for 62-10 68th Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Tenancy
Listing Agency:
Compass
Listed By:
JOSHUA GOLAN
(718) 415-4410
Source:
Howardhannanyc
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 12:14PM
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, four-family building contains four two-bedroom, one-bathroom apartments. Above-grade living space totals approximately 3,000 square feet, with an additional 800 square feet in the basement, on a 25' x 55' x 100' lot. Three apartments have renovated interiors with hardwood floors, updated kitchens and bathrooms, bedroom closets, and washer/dryer hookups. Some residences include private outdoor areas. Basement space accommodates storage, bicycle storage, and utilities.
Property improvements include a roof installed in 2020, replacement windows from 2023, a new boiler, four electric hot water heaters, and electrical system upgrades. One apartment is vacant, and another is expected to become vacant at the end of November 2026. The Fresh Pond Road M train station is approximately one block away. Myrtle Avenue, Grover Cleveland Park, and Highland Park are nearby.
Property improvements include a roof installed in 2020, replacement windows from 2023, a new boiler, four electric hot water heaters, and electrical system upgrades. One apartment is vacant, and another is expected to become vacant at the end of November 2026. The Fresh Pond Road M train station is approximately one block away. Myrtle Avenue, Grover Cleveland Park, and Highland Park are nearby.
Key Highlights
- Four two‑bedroom, one‑bathroom apartments in a two‑story building
- Approximately 3,000 square feet of above‑grade space plus 800 square feet of basement space
- Three apartments have renovated interiors; one apartment is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,889
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,857,780
$1.9M
Cap Rate 7%
$1,326,986
$1.3M
Cap Rate 9%
$1,032,100
$1.0M
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$175.6K $46.20/SF
− Vacancy
−$6.7K −$1.76/SF
EGI
$168.9K $44.44/SF
− OpEx
−$76.0K −$20.00/SF
NOI
$92.9K $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%
$1,857,780
Cap Rate 7%
$1,326,986
Cap Rate 9%
$1,032,100
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,889 @ 7.0% cap · market cap 5.55%
Second Best
Multifamily LT 5
$898.5K
$786.2K – $1.05M
NOI $62,896 @ 7.0% cap · market cap 3.75%
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
Multi-tenant
Tenancy
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 apartments have updated interiors, and one residence is vacant.
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 two‑bedroom, one‑bathroom apartments in a two‑story building; Approximately 3,000 square feet of above‑grade space plus 800 square feet of basement space; Three apartments have renovated interiors; one apartment is vacant
