4-Unit Brick
New
For Sale
$1,300,000
9035 198th Street, Hollis, NY 11423
The occupied property transfers with tenants in place and is being sold in its current condition.
Property Size3,192 SF
Price / SF$407.27
Days on Market4
Property Features for 9035 198th Street
General Information
Standard status
Active
Size
3,192 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$19,791
Amenities
Full
4
Yes
6
Other
Public
No
3192
Building Details
Building Size
3,192 SF
Year Built
1943
Construction
brick
Listing Agency:
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 31
Changed: Nov 2
Last Checked: Nov 3 at 7:18AM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,192-square-foot brick quadplex was built in 1943 and is fully occupied. The sale is on an as-is basis, with tenants remaining in place.
The property is in Hollis, Queens, with public transportation, the LIRR, and major highways among the nearby transportation options. Schools, retail, restaurants, and parks are also identified in the surrounding area.
The property is in Hollis, Queens, with public transportation, the LIRR, and major highways among the nearby transportation options. Schools, retail, restaurants, and parks are also identified in the surrounding area.
Key Highlights
- Four‑family brick property, fully occupied with tenants in place
- 3,192 square feet
- Built in 1943
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,027
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,560,540
$1.6M
Cap Rate 7%
$1,114,671
$1.1M
Cap Rate 9%
$866,967
$867.0K
Market Conditions
NOI Build-Up for 3,192 SF
Gross rent
$147.5K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$141.9K $44.44/SF
− OpEx
−$63.8K −$20.00/SF
NOI
$78.0K $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%
$1,560,540
Cap Rate 7%
$1,114,671
Cap Rate 9%
$866,967
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$975.3K – $1.30M
NOI $78,027 @ 7.0% cap · market cap 6.00%
Second Best
Multifamily LT 5
$754.8K
$660.4K – $880.6K
NOI $52,833 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$2.35M
$2.06M – $2.75M
NOI $164,723 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,846
Businesses Nearby
Explore this area
Business Placement
Demographics for 11423, NY
31,985
Population
10,307
Households
3.1
Avg Household Size
41
Median Age
34%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
22,846
Density / Sq Mi
$80,870
Median Household Income
$44,639
Median Earnings
$1,706
Median Rent
$717,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - The occupied property transfers with tenants in place and is being sold in its current condition.
Where is this quadplex located?
The property is located at 9035 198th Street Hollis, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Four‑family brick property, fully occupied with tenants in place; 3,192 square feet; Built in 1943
