81-38 Baxter Avenue Elmhurst, NY 11373
MULTI_FAMILY - Elmhurst, NY
- Added:
- Jan 19, 2026
- Days on Market:
- 174
- Last Refresh:
- Jul 12 at 2:06 am
Property Features for 81-38 Baxter Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R7BC1-3
- Parking
- 6
- Parking features
- On Street
- Standard status
- Active
- APN
- 01506-0007
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 37676
Utilities
- Utilities
- Natural Gas Available
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Water source
- Public
Building Details
- Year built
- 1917
- Floors in Building
- 1
- Number of units
- 7
- Building materials
- Frame
Listing agent Richard Matt Shane License #10301216230 (516) 279-8828
Listing office All Island Estates Realty Corp 3242 Railroad Ave, Wantagh, NY (516) 783-5600
Listing date Jan 19, 2026
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property has 20' of frontage on Baxter Avenue and is located in Elmhurst, one block from Roosevelt Avenue, with convenient access to I-278 and Queens Boulevard.
The listing is offered under zoning R7B/C1-3. Reported income includes a jewelry tenant and a hair salon, plus the five apartments, with each retail lease noted as expiring on the dates provided in the offering materials. Annual gross income and annual expenses are presented in the public remarks, with the listing also reporting a net operating income (NOI) amount and a cap rate.
Key Highlights
- 7‑unit mixed‑use building with 4,000+ SF; frame construction and natural gas heating
- 12.27% cap rate; gross income $227,456 annually and NOI $183,386.80 annually (expenses $44,069.20)
- R7B/C1‑3 zoning with high 8' ceilings, 2 stores, and a basement
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $184.8k | $46.20 |
| − Vacancy | −$7.0k | −$1.76 |
| EGI | $177.8k | $44.44 |
| − OpEx | −$80.0k | −$20.00 |
| NOI | $97.8k | $24.44 |
