7-Unit Apartment
70-10 Eliot Avenue, Middle Village, NY 11379
For Sale
New
$1,799,000
Pending
A varied residential configuration combines a duplex, one-bedroom apartments, and studio units.
Property Size3,567 SF
Days on Market4
Property Features for 70-10 Eliot Avenue
General Information
Standard status
Size
Total Parking Spaces
Zoning
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Gross Income
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
1
8
No
9
Public
Private, Attached
Building Details
Year Built
Buildings
Listing Agency:
(516) 788-8382
Listed By:
Amit Kalia
Source:
Sunluxrealty
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 13 at 4:19AM
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 Amit Kalia
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Investment Insights
Based on property information with market context.
This 7-family apartment property dates to 1978 and includes a mix of one duplex, three one-bedroom apartments, and three studios. The building has six gas meters and eight electric meters. A two-car attached garage and private driveway provide on-site vehicle space. The roof was replaced in 2018, and the property is zoned R4.
Five apartments are free market, while two are rent stabilized. The property is close to a park.
Five apartments are free market, while two are rent stabilized. The property is close to a park.
Key Highlights
- Seven‑family property with one duplex, three one‑bedroom apartments, and three studios
- Five apartments are free market; two are rent stabilized
- Two‑car attached garage and private driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,193
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,743,860
$1.7M
Cap Rate 7%
$1,245,614
$1.2M
Cap Rate 9%
$968,811
$968.8K
Market Conditions
NOI Build-Up for 3,567 SF
Gross rent
$164.8K $46.20/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$158.5K $44.44/SF
− OpEx
−$71.3K −$20.00/SF
NOI
$87.2K $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%
$1,743,860
Cap Rate 7%
$1,245,614
Cap Rate 9%
$968,811
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.45M
NOI $87,193 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $184,074 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,232
Businesses Nearby
Explore this area
Business Placement
Demographics for 11379, NY
37,906
Population
15,237
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
84%
High-School Grad
2.2 sq mi
ZIP Area
17,230
Density / Sq Mi
$92,509
Median Household Income
$54,109
Median Earnings
$1,989
Median Rent
$886,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Queens County, NY
Properties on Market for Apartment buildings in Queens County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied residential configuration combines a duplex, one-bedroom apartments, and studio units.
Where is this apartment building located?
The property is located at 70-10 Eliot Avenue Middle Village, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Seven‑family property with one duplex, three one‑bedroom apartments, and three studios; Five apartments are free market; two are rent stabilized; Two‑car attached garage and private driveway
