Four-Unit Multifamily
New
For Sale
$900,000
9701 24th Ave, Queens, NY 11369
Fire damage is present, and safety conditions currently prevent interior access.
Property Size2,408 SF
Days on Market2
Property Features for 9701 24th Ave
General Information
Standard status
Active
Size
2,408 SF
Property subtype
Investment
Property Condition
Severity
Major Repairs Needed
Evidence
fire damage
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,001
Building Details
Building Size
2,408 SF
Year Built
1925
Units
4
Listing Agency:
Joe Hasselt Real Estate
Listed By:
Joe Hasselt · License #35HA0410049
(718) 892-1700
Source:
Elliman
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 10 at 2:46AM
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 Joe Hasselt Real Estate
Investment Insights
Based on property information with market context.
This four-unit multifamily property, built in 1925, has sustained fire damage. Interior access is currently prohibited because of safety conditions. The sale is on an as-is, where-is basis.
The property is at 9701 24th Ave in Queens. Walk Score is 83, Bike Score is 53, and Transit Score is 66.
The property is at 9701 24th Ave in Queens. Walk Score is 83, Bike Score is 53, and Transit Score is 66.
Key Highlights
- Four‑unit property at 9701 24th Ave, Queens
- Built in 1925
- Fire damage; interior access is currently prohibited for safety reasons
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,862
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,177,240
$1.2M
Cap Rate 7%
$840,886
$840.9K
Cap Rate 9%
$654,022
$654.0K
Market Conditions
NOI Build-Up for 2,408 SF
Gross rent
$111.2K $46.20/SF
− Vacancy
−$4.2K −$1.76/SF
EGI
$107.0K $44.44/SF
− OpEx
−$48.2K −$20.00/SF
NOI
$58.9K $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%
$1,177,240
Cap Rate 7%
$840,886
Cap Rate 9%
$654,022
Alternative Uses
Best Use
Apartment 5plus
$840.9K
$735.8K – $981.0K
NOI $58,862 @ 7.0% cap · market cap 6.54%
Second Best
Multifamily LT 5
$569.4K
$498.2K – $664.3K
NOI $39,856 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$1.78M
$1.55M – $2.07M
NOI $124,264 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
6,128
Businesses Nearby
Explore this area
Business Placement
Demographics for 11369, NY
40,805
Population
13,893
Households
2.9
Avg Household Size
37
Median Age
24%
College-Educated
79%
High-School Grad
1.1 sq mi
ZIP Area
37,095
Density / Sq Mi
$80,577
Median Household Income
$40,089
Median Earnings
$1,983
Median Rent
$734,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fire damage is present, and safety conditions currently prevent interior access.
Where is this quadplex located?
The property is located at 9701 24th Ave Queens, NY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Four‑unit property at 9701 24th Ave, Queens; Built in 1925; Fire damage; interior access is currently prohibited for safety reasons
