Two-Story
New
For Sale
$1,675,000
62-10 68th Avenue, Queens, NY 11385
Residential Income, Queens, NY
Property Size3,800 SF
Price / SF$440.79
Days on Market2
Property Features for 62-10 68th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Rooms
Bedroom 1, Bedroom 3, Bedroom 7, Bedroom 5, Bedroom 6, Bedroom 8, Bedroom 4, Bedroom 2
Subdivision
Ridgewood
High school district
000000
Standard status
Active
Size
3,800 SF
Additional Details
Tenant in Place
Yes
Amenities
washer/dryer hookups
backyard
rear deck
basement storage
bicycle storage
Building Details
Architectural style
Other
Buildings
1
Listing Agency:
Compass
(646) 982-0353
Listed By:
Joshua Golan
Added: Nov 4
Changed: Nov 5
Last Checked: Nov 5 at 1:06PM
MLS# 12054902
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This two-story quadplex contains four residences, each configured with two bedrooms and one bathroom. Three apartments have undergone full interior renovations, with hardwood flooring, updated kitchens and bathrooms, bedroom closets, and washer and dryer hookups. The fourth unit is vacant. Select apartments include outdoor areas such as a backyard or rear deck. The building has approximately 3,000 square feet above grade and 800 square feet of basement space, with storage, bicycle storage, and utility areas. The lot measures 25' x 55' x 100'. Building upgrades include a roof installed in 2020, replacement windows from 2023, a new boiler, four electric hot water heaters, and upgraded electrical systems.
The property is near Myrtle Avenue’s shops and restaurants, with Grover Cleveland Park and Highland Park among the nearby recreational spaces. Fresh Pond Road’s M train station is approximately one block away.
The property is near Myrtle Avenue’s shops and restaurants, with Grover Cleveland Park and Highland Park among the nearby recreational spaces. Fresh Pond Road’s M train station is approximately one block away.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- Approximately 3,000 square feet above grade plus 800 square feet of basement space
- Three apartments have renovated interiors; the fourth 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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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,633
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Three residences feature updated interiors, while the fourth is vacant and available 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 above grade plus 800 square feet of basement space; Three apartments have renovated interiors; the fourth is vacant
