Legal 4-Family Quadplex with Finished
For Sale
$1,599,999
9425 54th Avenue, Elmhurst, NY 11373
Legal quadplex built in 1920 with finished basement and attic plus private driveway and detached garage.
Property Size2,640 SF
Days on Market55
Property Features for 9425 54th Avenue
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Quadruplex
Units
Unit Mix
1 x 1BR, 2 x 2BR, 1 x 3BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,907
Building Details
Building Size
2,640 SF
Year Built
1920
Buildings
1
Listing Agency:
Exit Realty Prime
Listed By:
MD N. Alam
(347) 440-4282
Source:
Barbieliteam
Added: Jul 26
Changed: Sep 2
Last Checked: Sep 16 at 10:19PM
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 Exit Realty Prime
Investment Insights
Based on property information with market context.
Legal 4-family quadplex with multiple living levels and flexible interior configuration. The building includes a front one-bedroom unit and a rear two-bedroom unit on the first floor, plus a front three-bedroom unit and a rear two-bedroom unit on the second floor. There is also a full finished attic with two rooms and a bath, and a full finished basement with two separate entrances and an additional bath. A private driveway and detached garage support on-site parking.
Situated at 9425 54th Avenue in Elmhurst, Queens, the property is described as being within walking distance to Junction Blvd., Corona Ave., shopping, dining, public transportation, and Queens Center Mall.
The building is offered as a legal 4-family property on a generous lot size, with an oversized overall footprint including more than 2,600 sq. ft. of living space and a 3,500+ sq. ft. lot.
Situated at 9425 54th Avenue in Elmhurst, Queens, the property is described as being within walking distance to Junction Blvd., Corona Ave., shopping, dining, public transportation, and Queens Center Mall.
The building is offered as a legal 4-family property on a generous lot size, with an oversized overall footprint including more than 2,600 sq. ft. of living space and a 3,500+ sq. ft. lot.
Key Highlights
- Legal 4‑family quadplex with front and rear units across the first and second floors
- Front 1‑bedroom and rear 2‑bedroom on the 1st floor; front 3‑bedroom and rear 2‑bedroom on the 2nd floor
- Full finished attic with 2 rooms and a bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$64,533
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,290,660
$1.3M
Cap Rate 7%
$921,900
$921.9K
Cap Rate 9%
$717,033
$717.0K
Market Conditions
NOI Build-Up for 2,640 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$122.0K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$117.3K $44.44/SF
− OpEx
−$52.8K −$20.00/SF
NOI
$64.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,290,660
Cap Rate 7%
$921,900
Cap Rate 9%
$717,033
Alternative Uses
Best Use
Apartment 5plus
$921.9K
$806.7K – $1.08M
NOI $64,533 @ 7.0% cap · market cap 4.03%
Second Best
Multifamily LT 5
$624.2K
$546.2K – $728.3K
NOI $43,696 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,237 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,667
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 - Legal quadplex built in 1920 with finished basement and attic plus private driveway and detached garage.
Where is this quadplex located?
The property is located at 9425 54th Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Legal 4‑family quadplex with front and rear units across the first and second floors; Front 1‑bedroom and rear 2‑bedroom on the 1st floor; front 3‑bedroom and rear 2‑bedroom on the 2nd floor; Full finished attic with 2 rooms and a bath
