Five-Unit Apartment
For Sale
$1,780,000
86 57rd, Elmhurst, NY 11373
Three-story residential property with five seller-described free-market rentals in Elmhurst, Queens.
Property Size3,630 SF
Lot Size0.05 Acres
Price / SF$490.36
Days on Market10
Property Features for 86 57rd
General Information
Standard status
Active
Size
3,630 SF
Total Parking Spaces
2
Lot size
0.05 Acres
Property subtype
Multi Family Home
Net Operating Income
$92,546
Financials
Asking Price
$1,800,000
Cap Rate
5.14%
Gross Income
$139,416
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
5
Tenant in Place
Yes
Building Details
Year Built
1986
Year Renovated
2024
Buildings
1
Stories
3
Listing Agency:
ONE STOP MULTISERVICE INC
Listed By:
Raymond Rivera
(718) 554-0257
Source:
Crystinandcorealty
Added: Oct 15
Changed: Oct 23
Last Checked: Oct 23 at 5:20PM
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 ONE STOP MULTISERVICE INC
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Investment Insights
Based on property information with market context.
This three-story apartment property contains five rentals and approximately 3,630 square feet of building area on an approximately 2,200-square-foot lot. The apartments are described by the seller as free-market. Built in 1986, the property has an approximately 22-by-100-foot lot configuration. The stated cap rate is 5.14%.
Located in Elmhurst, Queens, the property is near Queens Center Mall, Queens Place Mall, Woodhaven Boulevard, and Queens Boulevard. The M/R subway stations at Woodhaven Boulevard and Grand Avenue-Newtown are among the cited transit options. The Long Island Expressway and Woodhaven Boulevard are also identified nearby, along with supermarkets, restaurants, schools, parks, and neighborhood services.
Located in Elmhurst, Queens, the property is near Queens Center Mall, Queens Place Mall, Woodhaven Boulevard, and Queens Boulevard. The M/R subway stations at Woodhaven Boulevard and Grand Avenue-Newtown are among the cited transit options. The Long Island Expressway and Woodhaven Boulevard are also identified nearby, along with supermarkets, restaurants, schools, parks, and neighborhood services.
Key Highlights
- Five apartments described by the seller as free‑market rentals
- Approximately 3,630 SF of building area
- Approximately 2,200 SF lot measuring approximately 22 x 100
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,733
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,774,660
$1.8M
Cap Rate 7%
$1,267,614
$1.3M
Cap Rate 9%
$985,922
$985.9K
Market Conditions
NOI Build-Up for 3,630 SF
Gross rent
$167.7K $46.20/SF
− Vacancy
−$6.4K −$1.76/SF
EGI
$161.3K $44.44/SF
− OpEx
−$72.6K −$20.00/SF
NOI
$88.7K $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%
$1,774,660
Cap Rate 7%
$1,267,614
Cap Rate 9%
$985,922
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $88,733 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.68M
$2.34M – $3.12M
NOI $187,325 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,670
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story residential property with five seller-described free-market rentals in Elmhurst, Queens.
Where is this apartment building located?
The property is located at 86 57rd Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,780,000.
What are key features of this property?
This property features: Five apartments described by the seller as free‑market rentals; Approximately 3,630 SF of building area; Approximately 2,200 SF lot measuring approximately 22 x 100
