Eight-Unit Brick Apartment
New
For Sale
$1,390,000
76-11 47th Ave, Queens, NY 11373
A three-story rental property includes studio and one- and two-bedroom apartments, with heat and cooking gas paid by ownership.
Property Size3,960 SF
Days on Market2
Property Features for 76-11 47th Ave
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Commercial
Units
Unit Mix
3 x studio, 4 x 1BR, 1 x 2BR
Multifamily Units
8
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$52,329
Building Details
Building Size
3,960 SF
Year Built
1979
Buildings
1
Stories
3
Units
8
Construction
brick
Listed By:
Ana C. Chan CRS CBR GRI E-PRO CIPS · License #30CH0601833
(718) 672-5956
Source:
Elliman
Added: Nov 4
Last Checked: Nov 4 at 2:35PM
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 Ana C. Chan CRS CBR GRI E-PRO CIPS
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 1979 brick apartment building rises three stories and contains eight rental units: three studios, four one-bedroom apartments, and one two-bedroom apartment. A gas boiler installed one year ago serves the building. Ownership covers heat and cooking gas for all apartments, which share a single gas meter.
The property is a seven-minute walk from the subway on Elmhurst Ave. Its walk score is 81, transit score is 98, and bike score is 68.
The property is a seven-minute walk from the subway on Elmhurst Ave. Its walk score is 81, transit score is 98, and bike score is 68.
Key Highlights
- Eight apartments: three studios, four one‑bedroom units, and one two‑bedroom unit
- Three‑story brick building constructed in 1979
- Gas boiler is one year old; owner pays heat and cooking gas for all units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,800
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,936,000
$1.9M
Cap Rate 7%
$1,382,857
$1.4M
Cap Rate 9%
$1,075,556
$1.1M
Market Conditions
NOI Build-Up for 3,960 SF
Gross rent
$183.0K $46.20/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$176.0K $44.44/SF
− OpEx
−$79.2K −$20.00/SF
NOI
$96.8K $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 Rate 5%
$1,936,000
Cap Rate 7%
$1,382,857
Cap Rate 9%
$1,075,556
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,800 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.92M
$2.55M – $3.41M
NOI $204,355 @ 7.0% cap · market cap 14.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
4,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A three-story rental property includes studio and one- and two-bedroom apartments, with heat and cooking gas paid by ownership.
Where is this apartment building located?
The property is located at 76-11 47th Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Eight apartments: three studios, four one‑bedroom units, and one two‑bedroom unit; Three‑story brick building constructed in 1979; Gas boiler is one year old; owner pays heat and cooking gas for all units
