Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    85-21 56Th Ave Elmhurst, NY 11373

    Sponsored
    For Sale
    Pending
    $1,580,000

    MULTI_FAMILY - Elmhurst, NY

    Lot size:
    0.06 Acres
    Days on Market:
    61
    Last Refresh:
    Jan 26 at 10:06 am

    Property Features for 85-21 56Th Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Rooms
    Basement, Bedroom 2, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 3
    Bedrooms
    5
    Bathrooms
    3
    APN
    02879-0133
    Parking features
    Driveway
    Interior features
    Eat-in Kitchen
    Basement
    Full, Finished
    Lot size
    0.06 Acres

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Ductless
    Water source
    Public

    Building Details

    Year built
    1915
    Number of units
    2
    Flooring type
    Hardwood
    Building materials
    Brick

    We can help!

    Listing Contact
    Ricardo D. Mendez
    Ricardo D. Mendez

    Douglas Elliman Real Estate

    Listing agent Ricardo D. Mendez (718) 956-5000

    Listing date Nov 27, 2025

    MLS# 922609 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Elmhurst Multifamily Apartment For Sale

    This multifamily property is located in Elmhurst, New York. The apartment features new wood floors, electric, windows, and a new kitchen. The main bedroom is large, and the interior includes a separate thermostat. Additional features include marble detailing. The property is in mint condition.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elmhurst
    County
    Queens
    State
    New York
    Longitude
    -73.87784
    Latitude
    40.732654

    Nearby Similar for Sale

    • $1,550,000
      0.04 Acres

      Elmhurst Multifamily Investment Opportunity

      Well-maintained multifamily property near transportation and shopping in Elmhurst, NY.
      94-66 45Th Ave, Elmhurst, NY 11373
      View Details
    • $1,998,000
      0.05 Acres

      Elmhurst Mixed-Use Commercial Building

      Versatile mixed-use property in Elmhurst with commercial and residential spaces.
      40-10 Forley St, Elmhurst, NY 11373
      View Details
    • $1,299,000
      Pending

      Elmhurst Two-Family Home with Upgrades

      Spacious two-family home in Elmhurst near transit and amenities.
      9414 51St Ave, Elmhurst, NY 11373
      View Details
    • $1,848,000
      Pending

      Elmhurst Multi-Family Brick Home

      Three-family, fully detached, renovated brick home in Elmhurst.
      86-27 57Th Ave, Elmhurst, NY 11373
      View Details
    • $1,599,000

      Elmhurst Three-Family Brick Residence

      Well-maintained three-family property in Elmhurst with excellent income potential.
      6028 Wetherole St, Elmhurst, NY 11373
      View Details
    • $1,830,000
      0.06 Acres

      Elmhurst Legal Three-Family Home

      Legal 3-family home in Elmhurst, perfect for investors.
      9052 52Nd Ave, Elmhurst, NY 11373
      View Details
    • $1,550,000
      0.04 Acres

      Elmhurst Multifamily Investment Opportunity

      Multifamily property in Elmhurst, NY with strong income potential.
      94-68 45Th Ave, Elmhurst, NY 11373
      View Details
    • $1,688,000
      Pending

      Elmhurst Vacant Three-Story Brick House

      Vacant three-story brick house in Elmhurst, close to transportation.
      86-34 Grand Ave, Elmhurst, NY 11373
      View Details
    • $1,999,000
      0.03 Acres

      Elmhurst Income-Producing Corner Building

      Renovated mixed-use building with retail and residential units.
      85-45 Britton Ave, Elmhurst, NY 11373
      View Details
    • $1,200,000
      Pending

      Oversized Elmhurst Duplex Gem

      Spacious Elmhurst duplex near restaurants, shopping, schools, parks, and transportation.
      4808 92Nd St, Elmhurst, NY 11373
      View Details
    • $1,788,888
      Pending

      Elmhurst Multi-Family Brick Property

      Legal two-family property with additional land, convenient to transportation.
      87-66 52Nd Ave, Elmhurst, NY 11373
      View Details
    • $1,700,000
      0.07 Acres

      Elmhurst Legal Three-Family House

      Three-unit property in Elmhurst, perfect for investors, with income potential.
      93-10 50Th Ave, Elmhurst, NY 11373
      View Details

    FAQs

    What type of property is this?
    Duplex - Detailed apartment with new floors, electric, windows, and kitchen.
    Where is this duplex located?
    The property is located at 85-21 56Th Ave Elmhurst, NY.
    What is the asking price?
    The asking price for this property is $1,580,000.
    What are key features of this property?
    This property features: - Newly renovated with all new wood floors, electric, windows, marble, and kitchen.; - Large main bedroom.; - Eat-in kitchen.
    (718) 956-5000
    Request Owner's contact information
    85-21 56Th Ave Elmhurst, NY 11373
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    85-21 56Th Ave
    Elmhurst, NY 11373
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    85-21 56Th Ave Elmhurst, NY 11373
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ricardo D. Mendez
    Ricardo D. Mendez
    Real Estate License ID: 10301214562
    (718) 956-5000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.