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86-20 57th Rd 5 Unit Apartment Building $1,799,000 ($359,800/Unit) 7% Cap Rate Elmhurst, NY 11373
Investment Highlights
- Calling All Investors, Developers, & End-Users!!! 5 Unit Free Market Apartment Building In Elmhurst For Sale!!!
- The Property Is Located In The Heart Of Elmhurst 2 Blocks Off Queens Blvd. Near The I-495 Woodhaven Blvd. Exit!!!
- The Property Is Situated Minutes From Queens Center & Rego Center!!!
- The Property Features Excellent Signage, Great Exposure, R5 Zoning, High 8’ Ceilings, Full Basement, Private Driveway & Garage, 6 Parking Spaces, +++!
- Neighbors Include Apple, Starbucks, Verizon, USPS, Target, Costco, Petco, Best Buy, Victoria’s Secret, Walgreens, Adidas, Marshalls, Shake Shack, Burl
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers, & End-Users!!! 5 Unit Free Market Apartment Building In Elmhurst For Sale!!! The Property Features Excellent Signage, Great Exposure, R5 Zoning, High 8’ Ceilings, Full Basement, Private Driveway & Garage, 6 Parking Spaces, Separate Meters, 200 Amp Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Elmhurst 2 Blocks Off Queens Blvd. Near The I-495 Woodhaven Blvd. Exit!!! The Property Is Situated Minutes From Queens Center & Rego Center!!! Neighbors Include Apple, Starbucks, Verizon, USPS, Target, Costco, Petco, Best Buy, Victoria’s Secret, Walgreens, Adidas, Marshalls, Shake Shack, Burlington, White Castle, Aldi, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site / The Next Home For Your Business!!!
Income:
1st Floor
Studio: $18,000 Ann.; M-M.
1 Br. Apt.: $24,000 Ann.; M-M.
2nd Floor
4 Br., 2 Bath Apt.: $54,000 Ann. (Available)
3rd Floor
Front (1 Br. Apt.): $22,800 Ann.; M-M.
Rear (1 Br. Apt.): $21,000 Ann.; M-M.
LL Unit.(1 Br. Apt.): $19,200 Ann.; M-M.
Garage: $8,500 Ann. (Available)
Pro Forma Gross Income: $167,500 Ann.
Expenses:
Gas: $3,200 Ann.
Electric: $1,400 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $2,800 Ann
Insurance: $3,263 Ann.
Taxes: $30,618 Ann.
Total Expenses: $41,531 Ann.
Net Operating Income (NOI): $125,969 Ann. (Pro Forma 7 Cap!!!)
Income:
1st Floor
Studio: $18,000 Ann.; M-M.
1 Br. Apt.: $24,000 Ann.; M-M.
2nd Floor
4 Br., 2 Bath Apt.: $54,000 Ann. (Available)
3rd Floor
Front (1 Br. Apt.): $22,800 Ann.; M-M.
Rear (1 Br. Apt.): $21,000 Ann.; M-M.
LL Unit.(1 Br. Apt.): $19,200 Ann.; M-M.
Garage: $8,500 Ann. (Available)
Pro Forma Gross Income: $167,500 Ann.
Expenses:
Gas: $3,200 Ann.
Electric: $1,400 Ann.
Maintenance & Repairs: $250 Ann.
Water & Sewer: $2,800 Ann
Insurance: $3,263 Ann.
Taxes: $30,618 Ann.
Total Expenses: $41,531 Ann.
Net Operating Income (NOI): $125,969 Ann. (Pro Forma 7 Cap!!!)
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$167,500
|
$34.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$167,500
|
$34.61
|
| Taxes |
$30,618
|
$6.33
|
| Operating Expenses |
$10,913
|
$2.25
|
| Total Expenses |
$41,531
|
$8.58
|
| Net Operating Income |
$125,969
|
$26.03
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $167,500 |
| Annual Per SF | $34.61 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $167,500 |
| Annual Per SF | $34.61 |
| Taxes | |
|---|---|
| Annual | $30,618 |
| Annual Per SF | $6.33 |
| Operating Expenses | |
|---|---|
| Annual | $10,913 |
| Annual Per SF | $2.25 |
| Total Expenses | |
|---|---|
| Annual | $41,531 |
| Annual Per SF | $8.58 |
| Net Operating Income | |
|---|---|
| Annual | $125,969 |
| Annual Per SF | $26.03 |
Property Facts
| Price | $1,799,000 | Building Class | C |
| Price Per Unit | $359,800 | Lot Size | 0.05 AC |
| Sale Type | Investment | Building Size | 4,840 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1989 |
| Property Subtype | Apartment | Parking Ratio | 1.24/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R5 - 21.42x 100 lot | ||
| Price | $1,799,000 |
| Price Per Unit | $359,800 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 4,840 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1989 |
| Parking Ratio | 1.24/1,000 SF |
| Zoning | R5 - 21.42x 100 lot |
Amenities
Unit Amenities
- Balcony
- Cable Ready
- Dishwasher
- Washer/Dryer
- Ceiling Fans
- Hardwood Floors
- Stainless Steel Appliances
- Yard
- Basement
- Double Pane Windows
- Garden
Site Amenities
- 24 Hour Access
- Security System
- Bicycle Storage
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 3+1 | 1 | - | - |
Walk Score®
Walker's Paradise (92)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (76)
Property Taxes
| Parcel Number | 02871-0113 | Total Assessment | $264,540 |
| Land Assessment | $4,373 | Annual Taxes | $30,618 ($6.33/SF) |
| Improvements Assessment | $260,167 | Tax Year | 2025 |
Property Taxes
Parcel Number
02871-0113
Land Assessment
$4,373
Improvements Assessment
$260,167
Total Assessment
$264,540
Annual Taxes
$30,618 ($6.33/SF)
Tax Year
2025
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86-20 57th Rd
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