6-Unit Apartment
87-73 52nd Avenue, Elmhurst, NY 11373
For Sale
$1,458,000
Pending
R6B-zoned residential property with six units in Elmhurst.
Property Size4,116 SF
Days on Market9
Property Features for 87-73 52nd Avenue
General Information
Standard status
Size
Zoning
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
See Remarks
Yes
Other
No
4116
Building Details
Building Size
Year Built
Listing Agency:
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 31
Last Checked: Nov 7 at 8:14AM
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 Geralda Desir
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Investment Insights
Based on property information with market context.
This six-unit apartment property contains 4,116 square feet, with each unit listed at 654 square feet. The building was constructed in 1987 and is zoned R6B.
Located at 87-73 52nd Avenue in Elmhurst, New York, the property offers a residential configuration within the neighborhood.
Located at 87-73 52nd Avenue in Elmhurst, New York, the property offers a residential configuration within the neighborhood.
Key Highlights
- Six units, each listed at 654 square feet
- 4,116‑square‑foot apartment property
- Built in 1987
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,613
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,012,260
$2.0M
Cap Rate 7%
$1,437,329
$1.4M
Cap Rate 9%
$1,117,922
$1.1M
Market Conditions
NOI Build-Up for 4,116 SF
Gross rent
$190.2K $46.20/SF
− Vacancy
−$7.2K −$1.76/SF
EGI
$182.9K $44.44/SF
− OpEx
−$82.3K −$20.00/SF
NOI
$100.6K $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%
$2,012,260
Cap Rate 7%
$1,437,329
Cap Rate 9%
$1,117,922
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,613 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.03M
$2.66M – $3.54M
NOI $212,405 @ 7.0% cap · market cap 14.57%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
2,059
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
Properties on Market for Apartment buildings in Elmhurst
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - R6B-zoned residential property with six units in Elmhurst.
Where is this apartment building located?
The property is located at 87-73 52nd Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,458,000.
What are key features of this property?
This property features: Six units, each listed at 654 square feet; 4,116‑square‑foot apartment property; Built in 1987
