Three-Unit Triplex with
106-14 Otis Avenue, Queens, NY 11368
For Sale
$1,595,000
Delivered vacant, the property has kitchens and living areas on each of its three above-grade levels.
Property Size3,640 SF
Lot Size0.05 Acres
Price / SF$438.19
Days on Market33
Property Features for 106-14 Otis Avenue
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Highway Access
Road Access
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Furnished
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Compass
Listed By:
Kali Karagias
(917) 698-9322
Source:
Irynaferenets
Added: Oct 6
Changed: Nov 6
Last Checked: Nov 6 at 2:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This legal three-family residence was built in 1965 and is arranged across three above-grade stories. The first floor contains a kitchen, living area, one bedroom and a full bathroom. Each of the two upper floors has a kitchen, living room, three bedrooms, a full bathroom and a half bathroom. Two additional rooms and another half bathroom are located in the basement. The property also has an attached garage, a private driveway and outdoor space.
The home is on a 20-by-100-foot lot in Corona, Queens. Subway service on the 7, M and R lines is among the transportation options identified for the area. Nearby destinations listed include Flushing Meadows-Corona Park, the Queens Museum, Queens Zoo, Citi Field and LaGuardia Airport.
The home is on a 20-by-100-foot lot in Corona, Queens. Subway service on the 7, M and R lines is among the transportation options identified for the area. Nearby destinations listed include Flushing Meadows-Corona Park, the Queens Museum, Queens Zoo, Citi Field and LaGuardia Airport.
Key Highlights
- Legal three‑family property delivered vacant
- Seven bedrooms across three above‑grade stories
- Three full bathrooms and two half bathrooms, plus two basement rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,978
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,779,560
$1.8M
Cap Rate 7%
$1,271,114
$1.3M
Cap Rate 9%
$988,644
$988.6K
Market Conditions
NOI Build-Up for 3,640 SF
Gross rent
$168.2K $46.20/SF
− Vacancy
−$6.4K −$1.76/SF
EGI
$161.8K $44.44/SF
− OpEx
−$72.8K −$20.00/SF
NOI
$89.0K $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 Rate 5%
$1,779,560
Cap Rate 7%
$1,271,114
Cap Rate 9%
$988,644
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $88,978 @ 7.0% cap · market cap 5.58%
Second Best
Multifamily LT 5
$860.7K
$753.1K – $1.00M
NOI $60,248 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,841 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Queens, NY
Properties on Market for Triplexes in Queens
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Delivered vacant, the property has kitchens and living areas on each of its three above-grade levels.
Where is this triplex located?
The property is located at 106-14 Otis Avenue Queens, NY.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Legal three‑family property delivered vacant; Seven bedrooms across three above‑grade stories; Three full bathrooms and two half bathrooms, plus two basement rooms
