Brick Three-Unit
For Sale
$1,588,000
64-32 Perry Avenue, Maspeth, NY 11378
Residential Income, Maspeth, NY
Property Size2,652 SF
Lot Size0.06 Acres
Price / SF$598.79
Days on Market65
Property Features for 64-32 Perry Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 2, Bedroom 7
Parking features
Driveway
Interior features
First Floor Bedroom, First Floor Full Bath, Open Floorplan
Exterior features
Balcony
Elementary school
Ps 153 Maspeth Elementary
Middle school
Is 73 Frank Sansivieri Intermediate School (The)
High school
Grover Cleveland High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Directions
Please refer to Google Maps
Standard status
Active
APN
02716-0024
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10558
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s), Multi Units
Water source
Public
Building Details
Year built
2004
Number of units
3
Building materials
Brick
Listing Agency:
Skylux Realty Inc
(718) 500-2231
Listed By:
Fei Guo · License #10401366341
(516) 587-9113
Added: Jun 29
Changed: Aug 20
Last Checked: Sep 1 at 3:06AM
MLS# 1019901
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick triplex was built in 2004 and contains approximately 2,652 square feet of living space on a 2,504-square-foot lot. The first-floor residence has two bedrooms and one full bath, while the second-floor unit offers three bedrooms and one full bath. The third-floor apartment includes two bedrooms and one full bath. A finished attic adds a one-bedroom, one-bath bonus area. Interior features include an open floorplan, first-floor bedroom, and first-floor full bath, with a balcony and driveway outside.
The property is located at 64-32 Perry Avenue in Maspeth, near I-495, I-278, the Midtown Tunnel, and major bridges serving Manhattan. Bus service includes the Q18, Q39, Q47, Q58, and QM24, with connections to the 7, M, and R subway lines. Shopping, restaurants, supermarkets, Queens Center Mall, Rego Center, and Juniper Valley Park are nearby.
The property is located at 64-32 Perry Avenue in Maspeth, near I-495, I-278, the Midtown Tunnel, and major bridges serving Manhattan. Bus service includes the Q18, Q39, Q47, Q58, and QM24, with connections to the 7, M, and R subway lines. Shopping, restaurants, supermarkets, Queens Center Mall, Rego Center, and Juniper Valley Park are nearby.
Key Highlights
- Three‑floor layout with 2‑bedroom, 1‑bath first‑floor and third‑floor units plus a 3‑bedroom, 1‑bath second‑floor unit
- Approximately 2,652 sq. ft. of living space on a 2,504 sq. ft. lot
- Finished attic with an additional 1‑bedroom, 1‑bath bonus area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$64,827
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,296,540
$1.3M
Cap Rate 7%
$926,100
$926.1K
Cap Rate 9%
$720,300
$720.3K
Market Conditions
NOI Build-Up for 2,652 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$122.5K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$117.9K $44.44/SF
− OpEx
−$53.0K −$20.00/SF
NOI
$64.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,296,540
Cap Rate 7%
$926,100
Cap Rate 9%
$720,300
Alternative Uses
Best Use
Apartment 5plus
$926.1K
$810.3K – $1.08M
NOI $64,827 @ 7.0% cap · market cap 4.08%
Second Best
Multifamily LT 5
$627.1K
$548.7K – $731.6K
NOI $43,895 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,856 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,990
Businesses Nearby
Explore this area
Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
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?
Triplex - Separate utility systems support three apartments, with finished attic space and a driveway for added functionality.
Where is this triplex located?
The property is located at 64-32 Perry Avenue Maspeth, NY.
What is the asking price?
The asking price for this property is $1,588,000.
What are key features of this property?
This property features: Three‑floor layout with 2‑bedroom, 1‑bath first‑floor and third‑floor units plus a 3‑bedroom, 1‑bath second‑floor unit; Approximately 2,652 sq. ft. of living space on a 2,504 sq. ft. lot; Finished attic with an additional 1‑bedroom, 1‑bath bonus area
