94-68 45th Avenue, Elmhurst, NY 11373

Building Details

Building Size 4,400 SF More

Year Built 2017 More

Stories 4 More

Tenancy Multi More

Listing Agency: Winzone Realty Inc

Listed By: Rebecca Fang · License #40FA1050916 Show Phone

Source: Serhant

Added: Jun 25 Changed: Oct 31 Last Checked: Nov 6 at 3:25PM

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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

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Investment Insights

Based on property information with market context.

Built in 2017, this Elmhurst quadplex contains four free-market apartments arranged across the first floor and cellar, second floor, third floor, and fourth floor. The rent roll identifies a 5.5-room first-floor and cellar apartment, along with 6.5-room apartments on each of the upper three floors. Tenants pay their own heat and electricity, supporting a clearly defined utility structure for the property.

The building is located at 94-68 45th Avenue in Elmhurst, New York. Public transportation, shopping, and schools are identified in the surrounding area, providing access to everyday services and transit options. The property is offered as a multifamily income asset with all apartments operating on a free-market basis.

Key Highlights

• Quadplex built in 2017
• Four free‑market apartments across four residential levels
• 5.5‑room first‑floor and cellar apartment

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

Is this asking price fair?

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 (±1% cap)

NOI $107,555 @ 7.0% cap · market cap 7.27%

Second Best

Multifamily LT 5

$1.04M

$910.3K – $1.21M (±1% cap)

NOI $72,827 @ 7.0% cap · market cap 4.92%

Theoretical Best

Office A

$3.24M

$2.84M – $3.78M (±1% cap)

NOI $227,061 @ 7.0% cap · market cap 15.34%

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

Multi-tenant

Tenancy

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

Market

Average Price Trend$/SF for Quadplexes in Queens County, NY

$590 Jul

$621 Aug

$607 Sep

$510 Oct

Properties on Market for Quadplexes in Queens County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Four free-market apartments place heat and electricity costs with tenants.

Where is this quadplex located?

The property is located at 94-68 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: Quadplex built in 2017; Four free‑market apartments across four residential levels; 5.5‑room first‑floor and cellar apartment