Four-Family Tudor
For Sale
$1,350,000
70-02 69th Street, Glendale, NY 11385
Residential Income, Glendale, NY
Property Size3,060 SF
Lot Size0.05 Acres
Price / SF$441.18
Days on Market8
Property Features for 70-02 69th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Basement, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 4, Bathroom 1, Bathroom 3
Parking features
On Street
Basement
Walk-Out Access, Finished
Elementary school
Ps 91 Richard Arkwright
Middle school
PS/IS 119 Glendale
High school
Grover Cleveland High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Directions
Refer to Google Maps.
Standard status
Active
APN
03657-0006
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
20866
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1931
Number of units
4
Building materials
Brick
Architectural style
Tudor
Listing Agency:
Douglas Elliman Real Estate
(516) 746-0440
Listed By:
James Y. Chung · License #10301214776
(917) 727-5652
Added: Sep 3
Changed: Sep 10
Last Checked: Sep 10 at 8:06AM
MLS# 1046972
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 semi-attached corner Tudor is configured as a four-family property with approximately 3,060 square feet of building area on an approximately 23' x 100' lot. The first floor contains two one-bedroom apartments, while the second floor includes another one-bedroom apartment and a two-bedroom apartment. Kitchens and bathrooms have been maintained in good condition, and a finished basement adds usable interior space with access to the rear yard.
Building improvements include all-new windows, a new front entrance and secondary entry, updated hallway lanterns, a 75-gallon water heater approximately 2 years old, a natural-gas steam boiler approximately 5 years old, and a flat roof approximately 10 years old. Constructed in 1931 with brick construction and Tudor styling, the property also features public water and sewer service, window and wall/window cooling units, and on-street parking.
The corner setting provides gated yard access from 70th Avenue. The property is located near shopping, public transportation, schools, and major roadways in Glendale, Queens.
Building improvements include all-new windows, a new front entrance and secondary entry, updated hallway lanterns, a 75-gallon water heater approximately 2 years old, a natural-gas steam boiler approximately 5 years old, and a flat roof approximately 10 years old. Constructed in 1931 with brick construction and Tudor styling, the property also features public water and sewer service, window and wall/window cooling units, and on-street parking.
The corner setting provides gated yard access from 70th Avenue. The property is located near shopping, public transportation, schools, and major roadways in Glendale, Queens.
Key Highlights
- Four‑family layout with two one‑bedroom apartments on the first floor and one one‑bedroom plus one two‑bedroom apartment upstairs
- Approximately 3,060 square feet on an approximately 23' x 100' lot
- Finished basement with rear‑yard access and gated entry from 70th Avenue
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
$74,800
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
5.54%
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%
$1,496,000
$1.5M
Cap Rate 7%
$1,068,571
$1.1M
Cap Rate 9%
$831,111
$831.1K
Market Conditions
NOI Build-Up for 3,060 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
$141.4K $46.20/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$136.0K $44.44/SF
− OpEx
−$61.2K −$20.00/SF
NOI
$74.8K $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%
$1,496,000
Cap Rate 7%
$1,068,571
Cap Rate 9%
$831,111
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$935.0K – $1.25M
NOI $74,800 @ 7.0% cap · market cap 5.54%
Second Best
Multifamily LT 5
$723.5K
$633.1K – $844.1K
NOI $50,648 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$2.26M
$1.97M – $2.63M
NOI $157,911 @ 7.0% cap · market cap 11.70%
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
Paved road access
Location Intelligence
Trade Area within ½ mile
2,379
Businesses Nearby
Explore this area
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
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 - Corner brick residence with updated building systems, finished basement space, and gated yard access from 70th Avenue.
Where is this quadplex located?
The property is located at 70-02 69th Street Glendale, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Four‑family layout with two one‑bedroom apartments on the first floor and one one‑bedroom plus one two‑bedroom apartment upstairs; Approximately 3,060 square feet on an approximately 23' x 100' lot; Finished basement with rear‑yard access and gated entry from 70th Avenue
