Renovated Residential Income
8420 51ST AVE Flushing, NY 11435
For Sale
$499,000
Renovated 2-bedroom, 1-bath residence with stainless steel appliances and in-building amenities including fitness center and laundry.
Property Size988 SF
Price / SF$505.06
Days on Market158
Property Features for 8420 51ST AVE
General Information
- Standard status
- Active
- Size
- 988 SF
- Property subtype
- Apartment
Building Details
- Year Built
- 1962
Listing Agency:
Corcoran Group
(212) 355-3550
Listed By:
Alisia Ramlochan · License #10301213398
(917) 605-2700
Source:
Xome
Added: Feb 15
Changed: Jul 21
Last Checked: Jul 23 at 4:28AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This renovated 2-bedroom, 1-bath residence features stainless steel appliances, including a dishwasher, along with ample closet space. Modern designer finishes are presented throughout for a move-in-ready setup.
The Continental Park at 8420 51st Ave in Flushing offers a range of on-site amenities, including a fitness center, resident lounge, and on-site laundry. The community also includes a private park with picnic tables and a playground.
Board approval is required for occupancy, and parking is available via a waitlist. The property is offered for sale as part of other residential income properties.
The Continental Park at 8420 51st Ave in Flushing offers a range of on-site amenities, including a fitness center, resident lounge, and on-site laundry. The community also includes a private park with picnic tables and a playground.
Board approval is required for occupancy, and parking is available via a waitlist. The property is offered for sale as part of other residential income properties.
Key Highlights
- Renovated 2‑bedroom, 1‑bath residence
- Stainless steel appliances included, including a dishwasher
- Interior includes ample closet space
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 | $45.6k | $46.20 |
| − Vacancy | −$1.7k | −$1.76 |
| EGI | $43.9k | $44.44 |
| − OpEx | −$19.8k | −$20.00 |
| NOI | $24.2k | $24.44 |
988 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$345.0K
$301.9K – $402.5K
NOI $24,151 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$728.4K
$637.3K – $849.8K
NOI $50,986 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Residential income properties
FAQs
What type of property is this?
Residential income property - Renovated 2-bedroom, 1-bath residence with stainless steel appliances and in-building amenities including fitness center and laundry.
Where is this residential income property located?
The property is located at 8420 51ST AVE Flushing, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Renovated 2‑bedroom, 1‑bath residence; Stainless steel appliances included, including a dishwasher; Interior includes ample closet space
