Two-Bedroom Residential Income
For Sale
$619,000
76-17 46th Avenue 4-A, Queens, NY 11373
Elevator-access condominium with two full bathrooms, updated kitchen appliances, laundry facilities, and included heat.
Property Size838 SF
Price / SF$738.66
Days on Market35
Property Features for 76-17 46th Avenue 4-A
General Information
Standard status
Active
Size
838 SF
Elevators
Yes
Property subtype
Apartment
Financials
Asking Price
$619,000
HOA Fee
$488
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$180
Amenities
laundry facilities
Building Details
Building Size
838 SF
Year Built
2015
Listing Agency:
BC Realty Group LLC
(347) 921-2111
Listed By:
Anny Yau · License #823004448
(347) 921-2111
Source:
Howardhannanyc
Added: Jul 18
Changed: Aug 21
Last Checked: Aug 21 at 11:12AM
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 BC Realty Group LLC
Investment Insights
Based on property information with market context.
This 838-square-foot condominium was built in 2015 and offers two bedrooms, two full bathrooms, and a layout that separates the sleeping areas for added privacy. The kitchen includes a stainless-steel refrigerator, gas range and oven, range hood, and dishwasher. Residents also have access to elevator service and laundry facilities within the building, while heat is included and electricity is separately metered.
The property is located at 76-17 46th Avenue, Unit 4-A, in Queens, NY 11373. Elmhurst Avenue subway station provides M and R service, with late-night E and F service nearby. The Jackson Heights-Roosevelt Avenue/74th Street transportation hub adds access to the E, F, M, R, and 7 trains. Supermarkets, restaurants, shopping, schools, and daily neighborhood services are also located nearby.
A 25-year real estate tax abatement is in place, with approximately nine years remaining. Parking may be available for an additional fee, subject to availability.
The property is located at 76-17 46th Avenue, Unit 4-A, in Queens, NY 11373. Elmhurst Avenue subway station provides M and R service, with late-night E and F service nearby. The Jackson Heights-Roosevelt Avenue/74th Street transportation hub adds access to the E, F, M, R, and 7 trains. Supermarkets, restaurants, shopping, schools, and daily neighborhood services are also located nearby.
A 25-year real estate tax abatement is in place, with approximately nine years remaining. Parking may be available for an additional fee, subject to availability.
Key Highlights
- 838‑square‑foot condominium with 2 bedrooms and 2 full bathrooms
- Built in 2015 with elevator access and laundry facilities
- Kitchen includes stainless‑steel refrigerator, gas range, oven, hood, and dishwasher
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
$20,484
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
3.31%
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%
$409,680
$409.7K
Cap Rate 7%
$292,629
$292.6K
Cap Rate 9%
$227,600
$227.6K
Market Conditions
NOI Build-Up for 838 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
$38.7K $46.20/SF
− Vacancy
−$1.5K −$1.76/SF
EGI
$37.2K $44.44/SF
− OpEx
−$16.8K −$20.00/SF
NOI
$20.5K $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%
$409,680
Cap Rate 7%
$292,629
Cap Rate 9%
$227,600
Alternative Uses
Best Use
Apartment 5plus
$292.6K
$256.1K – $341.4K
NOI $20,484 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$617.8K
$540.6K – $720.8K
NOI $43,245 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Elevator-access condominium with two full bathrooms, updated kitchen appliances, laundry facilities, and included heat.
Where is this residential income property located?
The property is located at 76-17 46th Avenue 4-A Queens, NY.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: 838‑square‑foot condominium with 2 bedrooms and 2 full bathrooms; Built in 2015 with elevator access and laundry facilities; Kitchen includes stainless‑steel refrigerator, gas range, oven, hood, and dishwasher
