Six-Unit Rent-Stabilized Apartment
For Sale
$1,650,000
957 Seneca Avenue, Queens, NY 11385
Business Opportunity, Queens, NY
Property Size5,850 SF
Lot Size0.64 Acres
Price / SF$282.05
Days on Market10
Property Features for 957 Seneca Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Multi-Family
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bathroom 6, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
Subdivision
Flushing
High school district
24
Standard status
Active
Size
5,850 SF
Lot size
0.64 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
18243
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Amenities
high ceilings
courtyard
full basement
Building Details
Year built
1931
Floors in Building
3
Flooring type
Hardwood
Buildings
1
Listing Agency:
YOUR NEXT DOOR REALTY CORPORATION
(917) 882-3723
Listed By:
Colleen Losquadro
Added: Oct 26
Changed: Nov 3
Last Checked: Nov 4 at 1:06AM
MLS# 12045544
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 5,850-square-foot apartment building contains six rent-stabilized, three-bedroom units, all occupied. Building features include high ceilings, hardwood flooring, a courtyard and a full basement. Constructed in 1931, the property is heated by natural gas and hot water.
The boiler was reportedly replaced less than ten years ago. In 2023, the hot water tank was replaced, and roof work included a professional inspection, completed repairs and installation of a new skylight.
The boiler was reportedly replaced less than ten years ago. In 2023, the hot water tank was replaced, and roof work included a professional inspection, completed repairs and installation of a new skylight.
Key Highlights
- Six occupied, rent‑stabilized apartments, each with three bedrooms
- 5,850‑square‑foot building constructed in 1931
- Courtyard and full basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$143,000
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,860,000
$2.9M
Cap Rate 7%
$2,042,857
$2.0M
Cap Rate 9%
$1,588,889
$1.6M
Market Conditions
NOI Build-Up for 5,850 SF
Gross rent
$270.3K $46.20/SF
− Vacancy
−$10.3K −$1.76/SF
EGI
$260.0K $44.44/SF
− OpEx
−$117.0K −$20.00/SF
NOI
$143.0K $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%
$2,860,000
Cap Rate 7%
$2,042,857
Cap Rate 9%
$1,588,889
Alternative Uses
Best Use
Apartment 5plus
$2.04M
$1.79M – $2.38M
NOI $143,000 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.31M
$3.77M – $5.03M
NOI $301,888 @ 7.0% cap · market cap 18.30%
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
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,580
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
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
Frequently Asked Questions
What type of property is this?
Apartment building - Six occupied apartments have three-bedroom layouts, with shared courtyard and full-basement space.
Where is this apartment building located?
The property is located at 957 Seneca Avenue Queens, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Six occupied, rent‑stabilized apartments, each with three bedrooms; 5,850‑square‑foot building constructed in 1931; Courtyard and full basement
