4-Unit Quadplex with
New
For Sale
$1,599,000
Pending
7031 67th Place, Glendale, NY 11385
The four-unit property transfers vacant, with three two-bedroom apartments and one three-bedroom apartment.
Property Size3,000 SF
Lot Size0.06 Acres
Days on Market2
Property Features for 7031 67th Place
General Information
Standard status
Pending
Size
3,000 SF
Lot size
0.06 Acres
Property subtype
Residential Income
Zoning
R5B
Units
Unit Mix
3 x 2BR/1BATH, 1 x 3BR/1BATH
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,944
Amenities
backyard
partially finished basement
street parking
Full,Partially Finished
Hardwood
4
No
Yes
9
Eat-in Kitchen,Recessed Lighting,Storage
Full, Partially Finished
Public
On Street
3000
Building Details
Building Size
3,000 SF
Year Built
1931
Buildings
1
Listing Agency:
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 31
Last Checked: Oct 31 at 2:16PM
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 Geralda Desir
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Investment Insights
Based on property information with market context.
This four-unit residential property in Glendale includes three apartments with two bedrooms and one bath apiece, plus a three-bedroom, one-bath apartment. The building dates to 1931 and has hardwood flooring, a partially finished basement, and a green backyard. The property is delivered vacant. Building dimensions are 25 x 60 ft, and the lot measures 25 x 96 ft. Zoning is R5B, with a FAR of 1.25 and a maximum FAR of 1.5.
The property is near Myrtle Avenue shops and restaurants, the M train, the Q55 bus, PS 119, PS 91, and Highland Park. Street parking is available.
The property is near Myrtle Avenue shops and restaurants, the M train, the Q55 bus, PS 119, PS 91, and Highland Park. Street parking is available.
Key Highlights
- Four apartments: three 2BR/1BATH units and one 3BR/1BATH unit
- Delivered vacant
- Building dimensions: 25 x 60 ft
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,333
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,660
$1.5M
Cap Rate 7%
$1,047,614
$1.0M
Cap Rate 9%
$814,811
$814.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$138.6K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$133.3K $44.44/SF
− OpEx
−$60.0K −$20.00/SF
NOI
$73.3K $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%
$1,466,660
Cap Rate 7%
$1,047,614
Cap Rate 9%
$814,811
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 4.59%
Second Best
Multifamily LT 5
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,379
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 - The four-unit property transfers vacant, with three two-bedroom apartments and one three-bedroom apartment.
Where is this quadplex located?
The property is located at 7031 67th Place Glendale, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Four apartments: three 2BR/1BATH units and one 3BR/1BATH unit; Delivered vacant; Building dimensions: 25 x 60 ft
