Seven-Unit Multifamily
For Sale
$3,750,000
8834 54th Avenue, Elmhurst, NY 11373
Well-maintained seven-unit residential building built in 2022 near shopping, restaurants, parks, and public transportation.
Days on Market138
Property Features for 8834 54th Avenue
General Information
Standard status
Active
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
7
Building Details
Building Size
5,529 SF
Year Built
2022
Listing Agency:
Skylux Realty Inc
(917) 806-4383
Listed By:
Kenny Theam H. Tan ABR CIPS SRS C2
Source:
Barbieliteam
Added: Mar 17
Changed: Jul 31
Last Checked: Aug 1 at 10:48AM
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 Skylux Realty Inc
Investment Insights
Based on property information with market context.
This well-maintained residential building offers seven income-producing units. Built in 2022, the property is designed for long-term residential use and features a multi-unit configuration that can support multiple income streams.
Located in the heart of Elmhurst at 8834 54th Avenue, the building is positioned near everyday conveniences including shopping, restaurants, and parks. Public transportation access is also described as convenient, with easy access to Manhattan and other parts of Queens.
For investors seeking a centrally located multifamily asset with newer construction, this seven-unit property provides a straightforward residential format in a high-demand, amenity-rich area.
Located in the heart of Elmhurst at 8834 54th Avenue, the building is positioned near everyday conveniences including shopping, restaurants, and parks. Public transportation access is also described as convenient, with easy access to Manhattan and other parts of Queens.
For investors seeking a centrally located multifamily asset with newer construction, this seven-unit property provides a straightforward residential format in a high-demand, amenity-rich area.
Key Highlights
- Seven income‑producing units
- Year built 2022
- Well‑maintained multifamily residential building
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 | $255.4k | $46.20 |
| − Vacancy | −$9.7k | −$1.76 |
| EGI | $245.7k | $44.44 |
| − OpEx | −$110.6k | −$20.00 |
| NOI | $135.2k | $24.44 |
5,529 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $135,153 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.76M
NOI $285,323 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,631
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained seven-unit residential building built in 2022 near shopping, restaurants, parks, and public transportation.
Where is this apartment building located?
The property is located at 8834 54th Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Seven income‑producing units; Year built 2022; Well‑maintained multifamily residential building
