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    95-24 42 Ave Queens, NY 11373

    For Sale
    $995,000

    Five-unit apartment building, strong NOI.

    Property size:
    2,100 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional five-unit apartment building, located at 95-24 42nd Avenue in Elmhurst, Queens, NY 11373, presents a compelling investment opportunity. The property boasts a total of 2,100 square feet and sits on a 2,100 square foot lot. Built in 1989, this four-story brick structure is semi-attached and includes convenient off-street parking. The unit configuration is diverse, offering a mix of studio and one-bedroom apartments. Specifically, the first floor features a two-bedroom apartment with access to a lower-level accessory space. The second floor comprises two studio apartments, one in the front and one in the back. The third floor houses two one-bedroom duplex units, each extending to the fourth floor. The building benefits from a recently refinished roof (2024), minimizing immediate maintenance concerns. The asking price is $995,000, with a Net Operating Income (NOI) of $60,977, resulting in an attractive 6.10% capitalization rate. This property offers a solid return on investment and potential for future appreciation in the thriving Elmhurst market. Serious inquiries are encouraged.

    Property Features for 95-24 42 Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,100 SF

    Building Details

    Year Built
    1989
    Stories
    4
    Units
    5

    HighLights

    • $995,000 asking price for a 5‑unit multifamily apartment building.
    • 6.10% cap rate with a $60,977 Net Operating Income (NOI).
    • 2,100 square feet on a 2,100 square foot lot.
    • Five units in a four‑story, 1989‑built brick building.
    • Semi‑attached building with off‑street parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.8688597
    Latitude
    40.7459799

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit apartment building, strong NOI.
    Where is this multifamily property located?
    The property is located at 95-24 42 Ave Queens, NY.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: $995,000 asking price for a 5-unit multifamily apartment building.; 6.10% cap rate with a $60,977 Net Operating Income (NOI).; 2,100 square feet on a 2,100 square foot lot.
    Request Owner's contact information
    95-24 42 Ave Queens, NY 11373
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    Queens, NY 11373
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    95-24 42 Ave Queens, NY 11373
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