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Property profile & analytics
OFF-MARKET
Estimated value
$2,795,000
Apartment buildings
3078 38th St Long Island City, NY 11103-3805
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-0845429
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1921
Total area
16,123 SF
Lot
0.13 ac (5,720 SF)
Zoning code
R6B
APN
00659-0079
UPID
US63-0845429
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
$3.85M
Blend (final)
Blend
$2.80M
Owner & transaction history
Besco 38th Street LLC · 7 yrs held
Besco 38th Street LLC
since 2018
7 recorded transactions
Zoning & alternative use
R6B · Long Island City, 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 Long Island City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Island City 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
Blend value · Realmo final
$2.80M
Range $2.52M – $3.07M · ±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
$173 / 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
$136,192
Tax year 2024
Assessed value
$1,162,350
Assessed 2024
Previous assessed
$1,058,220
+9.8% YoY
Effective rate
11.72%
On assessed value
Assessed land
$61,200
Assessed improvement
$1,101,150
Land market value
$136,000
Improvement market value
$2,447,000
Total market value
$2,583,000
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
1921
Heating
NONE
Buildings
1
Stories
5
Units
20
Total area
16,123 SF
Lot
0.13 ac (5,720 SF)
Zoning code
R6B
APN
00659-0079
UPID
US63-0845429
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6B · Long Island City, NY
Zoning R6B · permitted uses
R6B · Long Island City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Island City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1921
Heating
NONE
Stories
5
Buildings
1
Units
20
Lot
0.13 ac
Current owner
From public records · entity-resolved
Besco 38th Street LLC
Entity
Mailing address
525 NORTHERN BLVD STE #300, GREAT NECK, NY 11021-5109
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 26, 2018
—
Besco 38th Street LLC
—
Deed
related
$912,252 · New York Community Bank
—
—
Besco 38th Street LLC
—
Loan Modification
related
$2,530,000 · New York Cmnty Bk
—
—
Besco 38th Street LLC
—
Deed Of Trust
related
$1,850,000 · New York Commercial Bank
—
—
Besco 38th St LLC
—
Deed Of Trust
related
—
—
—
Besco 38th St LLC
—
Deed Of Trust
related
—
—
—
Besco 38th Street LLC
—
Deed Of Trust
related
$343,091 · New York Community Bank
—
—
Besco 38th Street LLC
—
Deed Of Trust
related
$1,575,000 · 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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