Six-Unit Apartment
8732 114th Street, Richmond Hill, NY 11418
For Sale
$1,299,000
Three-story residential property with R4A zoning and a six-unit configuration.
Property Size4,800 SF
Lot Size0.06 Acres
Price / SF$270.63
Days on Market143
Property Features for 8732 114th Street
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Net Operating Income
Financials
Asking Price
Cap Rate
Gross Income
Site & Location
Highway Access
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Elite Realty of USA Inc
(718) 551-9800
Listed By:
Chandar Persaud · License #NY10301219700
(718) 757-0938
Source:
Croninreale
Added: Jun 19
Changed: Nov 7
Last Checked: Nov 7 at 3:58PM
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 Elite Realty of USA Inc
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Investment Insights
Based on property information with market context.
This three-story apartment property contains six units within approximately 4,800 square feet of living space. Built in 1930, it sits on a 0.06-acre lot and carries R4A zoning. The reported cap rate is 6.10%. Nearby context includes public transportation, shopping, schools, parks, and major highways.
Key Highlights
- Six apartments across three stories
- Approximately 4,800 square feet of living space
- 0.06‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,333
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,346,660
$2.3M
Cap Rate 7%
$1,676,186
$1.7M
Cap Rate 9%
$1,303,700
$1.3M
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$221.8K $46.20/SF
− Vacancy
−$8.4K −$1.76/SF
EGI
$213.3K $44.44/SF
− OpEx
−$96.0K −$20.00/SF
NOI
$117.3K $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%
$2,346,660
Cap Rate 7%
$1,676,186
Cap Rate 9%
$1,303,700
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,333 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,703 @ 7.0% cap · market cap 19.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 11418, NY
37,596
Population
12,072
Households
3.1
Avg Household Size
37
Median Age
32%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
22,115
Density / Sq Mi
$84,927
Median Household Income
$44,818
Median Earnings
$1,788
Median Rent
$772,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Queens County, NY
Properties on Market for Apartment buildings in Queens County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story residential property with R4A zoning and a six-unit configuration.
Where is this apartment building located?
The property is located at 8732 114th Street Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Six apartments across three stories; Approximately 4,800 square feet of living space; 0.06‑acre lot
