Brick Two-Family Home with
For Sale
$1,280,000
108-16 63rd Avenue, Forest Hills, NY 11375
MULTI_FAMILY - Forest Hills, NY
Property Size1,818 SF
Lot Size0.06 Acres
Price / SF$704.07
Days on Market96
Property Features for 108-16 63rd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Garage
Interior features
Refrigerator, Stove
Subdivision
Forest Hills
Standard status
Active
Size
1,818 SF
Lot size
0.06 Acres
Building Details
Number of units
1
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Kmax Realty Inc
(929) 456-3987
Listed By:
Siu Wai Raymond Cheung
(646) 580-3212
Added: May 13
Changed: Aug 4
Last Checked: Aug 16 at 10:06AM
MLS# 501416
Copyright © 2026 Brooklyn New York Multiple Listing Service. 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.
Located at 108-16 63rd Avenue in Forest Hills, this lovely semi-attached two-family brick home includes a built-in garage and a 2-bedroom apartment on the upper level. The upper unit features two generously sized bedrooms, a spacious living room, a dining area, and a kitchen. The apartment also provides direct backyard access, offering a practical indoor-outdoor option for everyday use. The roof was newly redone in 2024.
Set on a quiet, tree-lined street, the property is positioned for convenient daily routines. It is described as being near NYCT bus lines Q23, Q36, and Q88, as well as PS 220 Elementary School and schools in the junior high and high school range. The remarks also note proximity to Flushing Meadows Park, retail stores, a nearby tennis center, and major roadways including the Long Island Expressway and the Grand Central Parkway.
This home is well suited to buyers seeking a straightforward owner-occupant or rental configuration, with a clearly defined 2-bedroom apartment and direct backyard access. The refreshed roof reduces near-term exterior replacement concerns, while the built-in garage supports day-to-day parking and storage needs. With access to transportation, schools, and local amenities as described, it offers a practical fit for residents and income-minded buyers.
Set on a quiet, tree-lined street, the property is positioned for convenient daily routines. It is described as being near NYCT bus lines Q23, Q36, and Q88, as well as PS 220 Elementary School and schools in the junior high and high school range. The remarks also note proximity to Flushing Meadows Park, retail stores, a nearby tennis center, and major roadways including the Long Island Expressway and the Grand Central Parkway.
This home is well suited to buyers seeking a straightforward owner-occupant or rental configuration, with a clearly defined 2-bedroom apartment and direct backyard access. The refreshed roof reduces near-term exterior replacement concerns, while the built-in garage supports day-to-day parking and storage needs. With access to transportation, schools, and local amenities as described, it offers a practical fit for residents and income-minded buyers.
Key Highlights
- Semi‑attached two‑family brick home with a built‑in garage
- 2‑bedroom apartment with upper‑level living room, dining area, and kitchen plus direct backyard access
- Hardwood flooring throughout and interior includes a refrigerator and stove
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
$44,440
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
3.47%
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%
$888,800
$888.8K
Cap Rate 7%
$634,857
$634.9K
Cap Rate 9%
$493,778
$493.8K
Market Conditions
NOI Build-Up for 1,818 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
$84.0K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$80.8K $44.44/SF
− OpEx
−$36.4K −$20.00/SF
NOI
$44.4K $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%
$888,800
Cap Rate 7%
$634,857
Cap Rate 9%
$493,778
Alternative Uses
Best Use
Apartment 5plus
$634.9K
$555.5K – $740.7K
NOI $44,440 @ 7.0% cap · market cap 3.47%
Second Best
Multifamily LT 5
$429.9K
$376.1K – $501.5K
NOI $30,091 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,818 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,208
Businesses Nearby
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
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?
Duplex - Semi-attached two-family brick residence offers a built-in garage and a 2-bedroom layout with direct backyard access.
Where is this duplex located?
The property is located at 108-16 63rd Avenue Forest Hills, NY.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Semi‑attached two‑family brick home with a built‑in garage; 2‑bedroom apartment with upper‑level living room, dining area, and kitchen plus direct backyard access; Hardwood flooring throughout and interior includes a refrigerator and stove
