Four-Unit
For Sale
$1,480,000
94-66 45th Avenue, Elmhurst, NY 11373
Free-market apartments provide residential income with tenants responsible for their own heat and electricity.
Property Size4,400 SF
Days on Market109
Property Features for 94-66 45th Avenue
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Quadruplex
Net Operating Income
$83,879
Additional Details
Gross Income
$131,425
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$38,031
Building Details
Building Size
4,400 SF
Year Built
2017
Listing Agency:
Winzone Realty Inc
Listed By:
Rebecca Fang · License #40FA1050916
(646) 823-8878
Source:
Serhant
Added: Jun 24
Changed: Oct 5
Last Checked: Oct 7 at 4:18PM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This quadplex was built in 2017 and contains four residential apartments arranged across the first through fourth floors, with additional cellar-level space. The unit mix includes a 5.5-room first-floor and cellar configuration, along with 6.5-room apartments on the second, third, and fourth floors. All apartments are free market, and tenants pay their own heat and electricity.
The property is located at 94-66 45th Avenue in Elmhurst, NY 11373. MTA transportation is readily accessible, while shopping hubs and schools are also located nearby. The combination of multiple apartment layouts, free-market tenancy, and transit-oriented Queens access supports the property's multifamily profile.
The property is located at 94-66 45th Avenue in Elmhurst, NY 11373. MTA transportation is readily accessible, while shopping hubs and schools are also located nearby. The combination of multiple apartment layouts, free-market tenancy, and transit-oriented Queens access supports the property's multifamily profile.
Key Highlights
- Four‑unit quadplex built in 2017
- All apartments are free market
- First‑floor and cellar unit contains 5.5 rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,555
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,151,100
$2.2M
Cap Rate 7%
$1,536,500
$1.5M
Cap Rate 9%
$1,195,056
$1.2M
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$203.3K $46.20/SF
− Vacancy
−$7.7K −$1.76/SF
EGI
$195.6K $44.44/SF
− OpEx
−$88.0K −$20.00/SF
NOI
$107.6K $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%
$2,151,100
Cap Rate 7%
$1,536,500
Cap Rate 9%
$1,195,056
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.34M – $1.79M
NOI $107,555 @ 7.0% cap · market cap 7.27%
Second Best
Multifamily LT 5
$1.04M
$910.3K – $1.21M
NOI $72,827 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$3.24M
$2.84M – $3.78M
NOI $227,061 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
6,789
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Free-market apartments provide residential income with tenants responsible for their own heat and electricity.
Where is this quadplex located?
The property is located at 94-66 45th Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,480,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 2017; All apartments are free market; First‑floor and cellar unit contains 5.5 rooms
