Free Market Apartment
For Sale
$1,480,000
94-68 45th Avenue, Queens, NY 11373
Four-unit apartment building with strong income potential.
Property Size3,168 SF
Price / SF$467.17
Days on Market252
Property Features for 94-68 45th Avenue
General Information
Standard status
Active
Size
3,168 SF
Property subtype
House/Building
Taxes and HOA fees
Annual Taxes
$38,031
Amenities
No, No, .00, Other
Other, None, Other, See Remarks, Public, Other, 4, 4
Other
No, Square Feet, 18.75x87
No
Finished, Full, Yes
Colonial, Other, Public, Terrace
See Remarks
Terrace
Brick, Other
Terrace, Other
Building Details
Year Built
2018
Listing Agency:
Winzone Realty Inc
Listed By:
Rebecca Fang · License #40FA1050916
(718) 899-7000
Source:
Compass
Added: Feb 21
Changed: Oct 31
Last Checked: Oct 30 at 5:32PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-story apartment building is a completely free market property. The first floor and cellar unit has 5.5 rooms and generates $3,100 in monthly rent. The second-floor apartment, featuring 6.5 rooms, rents for $2,660 per month. The third-floor apartment, also with 6.5 rooms, brings in $2,680 monthly. The fourth-floor apartment, with 6.5 rooms, is rented for $2,500 per month. The building's gross income is $130,450. Annual expenses include real estate taxes of $38,031, insurance costs of $3,031, water and sewer charges of $5,936, electric costs of $563, and maintenance expenses of $1,450.
Key Highlights
- High Gross Income: $130,450
- Completely Free Market Building
- Relatively New Construction: Built in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,440
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,548,800
$1.5M
Cap Rate 7%
$1,106,286
$1.1M
Cap Rate 9%
$860,444
$860.4K
Market Conditions
NOI Build-Up for 3,168 SF
Gross rent
$146.4K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$140.8K $44.44/SF
− OpEx
−$63.4K −$20.00/SF
NOI
$77.4K $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%
$1,548,800
Cap Rate 7%
$1,106,286
Cap Rate 9%
$860,444
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$968.0K – $1.29M
NOI $77,440 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.34M
$2.04M – $2.72M
NOI $163,484 @ 7.0% cap · market cap 11.05%
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
Location Intelligence
Trade Area within ½ mile
4,384
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
Check the figures for this property
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?
Apartment building - Four-unit apartment building with strong income potential.
Where is this apartment building located?
The property is located at 94-68 45th Avenue Queens, 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: High Gross Income: $130,450; Completely Free Market Building; Relatively New Construction: Built in 2017
