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Property profile & analytics
OFF-MARKET
Estimated value
$9,330,000
Apartment buildings
14420 38th Ave Flushing, NY 11354-5942
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-1206578
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1969
Total area
62,367 SF
Lot
0.61 ac (26,493 SF)
Zoning code
R6
APN
05024-0019
UPID
US63-1206578
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.62M
Blend (final)
Blend
$9.33M
Owner & transaction history
Jc Flushing LLC · 13 yrs held
Jc Flushing LLC
since 2013
7 recorded transactions
Zoning & alternative use
R6 · Flushing, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Flushing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Flushing submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$13,860,000
Current use
Blend value · Realmo final
$9.33M
Range $8.40M – $10.26M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$150 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$391,281
Tax year 2024
Assessed value
$3,129,750
Assessed 2024
Previous assessed
$3,384,210
-7.5% YoY
Effective rate
12.50%
On assessed value
Assessed land
$235,800
Assessed improvement
$2,893,950
Land market value
$524,000
Improvement market value
$6,431,000
Total market value
$6,955,000
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1969
Heating
NONE
Buildings
1
Stories
6
Units
71
Total area
62,367 SF
Lot
0.61 ac (26,493 SF)
Zoning code
R6
APN
05024-0019
UPID
US63-1206578
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6 · Flushing, NY
Zoning R6 · permitted uses
R6 · Flushing, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Flushing. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$13.9M
APARTMENT HOUSE (5+ UNITS) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Heating
NONE
Stories
6
Buildings
1
Units
71
Lot
0.61 ac
Current owner
From public records · entity-resolved
Jc Flushing LLC
Entity
Mailing address
1129 NORTHERN BLVD STE #305, MANHASSET, NY 11030-3022
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2017
—
Ciampa Realty 11 LLC
—
Loan Modification, Consolidation And Extension
related
$11,514,600 · Flushing Bk
Jun 7, 2017
—
M1 LLC
—
Loan Modification, Consolidation And Extension
related
$5,789,500 · Flushing Bk
May 1, 2013
$8,500,000
Jc Flushing LLC
Ciampa North LLC
Warranty Deed
—
Aug 24, 2009
—
Ciampa North LLC
—
Deed Of Trust
related
$2,083,741 · New York Community Bank
Nov 25, 2008
—
Ciampa North LLC
—
Deed Of Trust
related
$8,549,999 · New York Community Bank
—
—
Ciampa Metropolitan LLC
—
Deed Of Trust
related
$2,604,677 · New York Community Bank
—
—
Ciampa Metropolitan LLC
—
Deed Of Trust
related
$2,865,144 · New York Community Bank
—
—
New York Community Bk
—
Deed Of Trust
related
$8,192,458 · Ciampa North LLC
—
—
Ciampa North LLC
—
Deed Of Trust
related
$1,823,274 · New York Community Bank
—
—
Parsons Terrace LLC
—
Loan Modification, Consolidation And Extension
related
$6,700,000 · Capital One NA
—
—
Jc Flushing LLC
—
Loan Modification, Consolidation And Extension
related
$9,200,000 · Capital One NA
—
—
Ciampa Metropolitan LLC
—
Loan Modification, Consolidation And Extension
related
$8,600,000 · Capital One NA
—
—
Ciampa Metropolitan LLC
—
Loan Modification, Consolidation And Extension
related
$7,100,000 · Capital One NA
—
—
Ciampa North LLC
—
Deed Of Trust
related
$6,466,258 · New York Community Bank
—
—
Ciampa North LLC
—
Deed Of Trust
related
$2,604,677 · New York Community Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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