9-Unit Multifamily
For Sale
$1,699,000
Pending
7101 35th Ave, Queens, NY 11372
Mix of studio and one-bedroom apartments with 7 free-market units and 2 rent-stabilized units.
Property Size2,320 SF
Days on Market152
Property Features for 7101 35th Ave
General Information
Standard status
Pending
Size
2,320 SF
Property subtype
Commercial
Additional Details
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$17,445
Building Details
Building Size
2,320 SF
Year Built
1928
Units
9
Tenancy
Multi
Listing Agency:
Alexiou Realty
Listed By:
Pantelis N. Klappas
(347) 755-0111
Source:
Elliman
Added: Jun 3
Changed: Oct 25
Last Checked: Oct 30 at 3:50PM
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 Alexiou Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is a legal 9-family apartment building in Jackson Heights, Queens, offering 6 studio units and 3 one-bedroom units. The current mix includes 7 free-market rent units and 2 rent-stabilized units. The building is described as having low expenses and being straightforward to maintain.
Access and area context are also favorable, with the building located on 35th Ave near 71st Street in Jackson Heights. The property’s reported walkability and transit accessibility are strong, with a Walk Score of 95 and a Transit Score of 100, supporting day-to-day convenience for residents.
For buyers seeking a multifamily asset with a defined in-place rental mix, the current configuration provides both free-market and rent-stabilized units within the same legal building. The unit count and apartment mix may appeal to investors and owner-operators looking to manage a portfolio of studios and one-bedroom homes under one roof.
Access and area context are also favorable, with the building located on 35th Ave near 71st Street in Jackson Heights. The property’s reported walkability and transit accessibility are strong, with a Walk Score of 95 and a Transit Score of 100, supporting day-to-day convenience for residents.
For buyers seeking a multifamily asset with a defined in-place rental mix, the current configuration provides both free-market and rent-stabilized units within the same legal building. The unit count and apartment mix may appeal to investors and owner-operators looking to manage a portfolio of studios and one-bedroom homes under one roof.
Key Highlights
- Legal 9‑family building built in 1928 in Jackson Heights, NY
- Unit mix includes 6 studio units and 3 one‑bedroom units
- Income mix: 7 free‑market units plus 2 rent‑stabilized units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,711
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,134,220
$1.1M
Cap Rate 7%
$810,157
$810.2K
Cap Rate 9%
$630,122
$630.1K
Market Conditions
NOI Build-Up for 2,320 SF
Gross rent
$107.2K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$103.1K $44.44/SF
− OpEx
−$46.4K −$20.00/SF
NOI
$56.7K $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%
$1,134,220
Cap Rate 7%
$810,157
Cap Rate 9%
$630,122
Alternative Uses
Best Use
Apartment 5plus
$810.2K
$708.9K – $945.2K
NOI $56,711 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,723 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
9
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,779
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
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
Frequently Asked Questions
What type of property is this?
Apartment building - Mix of studio and one-bedroom apartments with 7 free-market units and 2 rent-stabilized units.
Where is this apartment building located?
The property is located at 7101 35th Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Legal 9‑family building built in 1928 in Jackson Heights, NY; Unit mix includes 6 studio units and 3 one‑bedroom units; Income mix: 7 free‑market units plus 2 rent‑stabilized units
