Elmhurst Five-Family Brick
9524 42nd Ave, Elmhurst, NY 11373
Semi-attached brick five-family property with off-street parking.
Property size:
2,100 SFPrice / SF:
$411/SF- Added:
- Aug 13, 2024
- Days on Market:
- 648
- Last Refresh:
- Apr 1 at 8:55 pm
Property Features for 9524 42nd Ave
General Information
- Standard status
- Active
- Size
- 2,100 SF
- Property subtype
- Other
Building Details
- Year Built
- 1989
Listing agent George Arnaudov
Listing office Keller Williams Landmark II (347) 846-1200
Listing date Aug 13, 2024
Source Xome
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 Keller Williams Landmark II
HighLights
- 5‑family brick property with income potential
- Off‑street parking available
- First‑floor 2‑bedroom apartment with lower‑level access
- Recently refinished roof (2024)
- Two studio apartments on the 2nd floor
- Two 1‑bedroom duplex units with a 4th floor on the 3rd floor
Overview
This is a semi-attached brick five-family property featuring off-street parking. The first floor includes a two-bedroom apartment with access to lower-level accessory space. The second floor contains two apartments: a front studio and a back studio. The third floor houses two one-bedroom units, each duplexed with a fourth floor. The roof was recently refinished in 2024. The property is in very good condition and includes separate hot water heaters. The building size is approximately 2100 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$570.4K
NOI $51,333 @ 9.00% cap · cautious / downside scenario
Moderate
$733.3K
NOI $51,333 @ 7.00% cap · market / base-case scenario
Aggressive
$1.03M
NOI $51,333 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.0k | $46.20 |
| − Vacancy | −$3.7k | −$1.76 |
| EGI | $93.3k | $44.44 |
| − OpEx | −$42.0k | −$20.00 |
| NOI | $51.3k | $24.44 |
2,100 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$733.3K
$641.7K – $855.6K
NOI $51,333 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,370 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Elmhurst
- County
- Queens
- State
- New York
- Longitude
- -73.868753
- Latitude
- 40.745909
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Semi-attached brick five-family property with off-street parking.
Where is this apartment building located?
The property is located at 9524 42nd Ave Elmhurst, NY.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: 5‑family brick property with income potential; Off‑street parking available; First‑floor 2‑bedroom apartment with lower‑level access
