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Elmhurst Multifamily Investment Opportunity

94-50 45th Ave, Queens, NY 11373

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For Sale

$4,300,000

Eight-family property in Elmhurst with 421a tax abatement until 2060.

Type:Commercial

HighLights

421a Tax Abatement until 2060 resulting in incredibly low annual property tax of $1,302.
100% Occupied with Positive Cash Flow.
Located in the heart of Elmhurst with Excellent Transit (transitScore: 71), Very Walkable (walkScore: 88), and Very Bikeable (bikeScore: 75).
Newer construction (built in 2022).
Solid construction with long‑term tenants.
Rare multi‑family offering in this part of Elmhurst.

We can help!

Listing Contact

Meizi Cui

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For Sale

$4,300,000

Eight-family property in Elmhurst with 421a tax abatement until 2060.

Type:Commercial

Added:: Apr 24, 2026
Days on Market:: 50
Last Refresh:: Apr 24 at 3:15 pm

Property Features for 94-50 45th Ave

General Information

Standard status: Active
Property subtype: Commercial

Building Details

Year Built: 2022

We can help!

Listing Contact

Meizi Cui

Listing agent Meizi Cui License #10401252795

Listing office

Listing date Apr 24, 2026

Source Elliman

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 Meizi Cui

HighLights

421a Tax Abatement until 2060 resulting in incredibly low annual property tax of $1,302.
100% Occupied with Positive Cash Flow.
Located in the heart of Elmhurst with Excellent Transit (transitScore: 71), Very Walkable (walkScore: 88), and Very Bikeable (bikeScore: 75).
Newer construction (built in 2022).
Solid construction with long‑term tenants.
Rare multi‑family offering in this part of Elmhurst.

Overview

Located in the heart of Elmhurst, this eight-family property presents an investment opportunity. The property benefits from a 421a tax abatement in place until 2060, resulting in an annual property tax of $1,302. The building is 100% occupied and generates positive cash flow. It features solid construction and long-term tenants. The location provides convenient access to multiple subway lines, bus stops, grocery stores, and restaurants, with a walk score of 88, indicating it is very walkable, a bike score of 75, indicating it is very bikeable, and a transit score of 71, indicating excellent transit options. The monthly rent roll is as follows: Rental -1B: $3,000, Rental -2A: $2,460, Rental -2B: $2,600, Rental -3A: $2,600, Rental -3B: $2,460, Rental -4A: $2,460, Rental -4B: $2,700, Rental -CB: $2,200, Rental -1A: $1,800, Rental -CF: $1,500. This multifamily property is one of the few offerings of its kind in this part of Elmhurst.

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Local Demand

City: Queens
County: Queens
State: New York
Longitude: -73.954687
Latitude: 40.7489

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For sale
Apartment buildings
NY
Queens
11373
94-50 45th Ave

What type of property is this?

Apartment building - Eight-family property in Elmhurst with 421a tax abatement until 2060.

Where is this apartment building located?

The property is located at 94-50 45th Ave Queens, NY.

What is the asking price?

The asking price for this property is $4,300,000.

What are key features of this property?

This property features: 421a Tax Abatement until 2060 resulting in incredibly low annual property tax of $1,302.; 100% Occupied with Positive Cash Flow.; Located in the heart of Elmhurst with Excellent Transit (transitScore: 71), Very Walkable (walkScore: 88), and Very Bikeable (bikeScore: 75).