Brick Triplex with Finished
For Sale
$1,888,000
Pending
89-19 55th Ave, Elmhurst, NY 11373
Residential Income, Elmhurst, NY
Property Size3,162 SF
Lot Size0.05 Acres
Days on Market50
Property Features for 89-19 55th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
7
Full bathrooms
4
Half bathrooms
3
Rooms
Bedroom 4, Bathroom 7, Bathroom 1, Bedroom 5, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 6, Bathroom 6, Bedroom 7, Bedroom 2, Bathroom 5, Bedroom 1, Bedroom 3
Subdivision
Elmhurst
Standard status
Pending
Size
3,162 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
11375
Utilities
Heating system
Natural Gas
Amenities
balconies
Building Details
Year built
1960
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
LANDMARK INTERNATIONAL REAL ESTATE GROUP LLC
(917) 530-5075
Listed By:
Zhi Ying Wu
Added: Aug 4
Changed: Sep 16
Last Checked: Sep 22 at 5:06AM
MLS# 11918790
Copyright © 2026 My State 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 3,162-square-foot semi-detached brick triplex was built in 1960 on a 20-by-100-foot lot. The configuration includes two three-bedroom, one-and-a-half-bath apartments and a one-bedroom walk-in unit, along with a full finished basement. Interior features include hardwood flooring, generous living rooms with L-shaped dining areas, a substantial entry foyer, and private baths in the primary bedrooms. The upper apartments also have front-facing balconies.
An attached one-car garage and private driveway provide on-site parking. The basement has its own entrance to the backyard, while natural-gas heating and an asphalt roof complete the principal property details. The home is near Queens Boulevard and the E, F, M, and R subway services at Grand Av–Newton Station.
An attached one-car garage and private driveway provide on-site parking. The basement has its own entrance to the backyard, while natural-gas heating and an asphalt roof complete the principal property details. The home is near Queens Boulevard and the E, F, M, and R subway services at Grand Av–Newton Station.
Key Highlights
- Legal 3‑family brick home with 3,162 SF of property size
- Two 3‑bedroom, 1.5‑bath apartments plus a 1‑bedroom walk‑in unit
- Full finished basement with separate backyard entrance
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
$77,293
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
4.09%
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%
$1,545,860
$1.5M
Cap Rate 7%
$1,104,186
$1.1M
Cap Rate 9%
$858,811
$858.8K
Market Conditions
NOI Build-Up for 3,162 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
$146.1K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$140.5K $44.44/SF
− OpEx
−$63.2K −$20.00/SF
NOI
$77.3K $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%
$1,545,860
Cap Rate 7%
$1,104,186
Cap Rate 9%
$858,811
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$966.2K – $1.29M
NOI $77,293 @ 7.0% cap · market cap 4.09%
Second Best
Multifamily LT 5
$747.7K
$654.2K – $872.3K
NOI $52,336 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,174 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,897
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family brick residence with a private driveway, attached garage, balconies, and convenient subway access.
Where is this triplex located?
The property is located at 89-19 55th Ave Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: Legal 3‑family brick home with 3,162 SF of property size; Two 3‑bedroom, 1.5‑bath apartments plus a 1‑bedroom walk‑in unit; Full finished basement with separate backyard entrance
