Brick Three-Family Home with
For Sale
$1,388,000
110-31 15th Avenue, College Point, NY 11356
Brick triplex on a lot with two-street access and off-street parking, plus a backyard pool and patio.
Property Size3,000 SF
Lot Size0.11 Acres
Days on Market68
Property Features for 110-31 15th Avenue
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.11 Acres
Property subtype
Triplex
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,570
Amenities
swimming pool
patio
Building Details
Building Size
3,000 SF
Year Built
1920
Buildings
1
Construction
brick
Listing Agency:
Century Homes Realty Group LLC
Listed By:
Wayne R. Rose GRI CBR MRP E-PRO PS
(917) 968-7122
Source:
Serhant
Added: Jun 30
Changed: Aug 26
Last Checked: Sep 5 at 5:12AM
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 Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
Brick triplex built in 1920 offering a flexible three-family setup with a loft-style owner’s apartment and two additional three-bedroom apartments on the upper floors. The owner’s unit includes a spacious open living area and kitchen, a full bath, and direct access to the landscaped backyard with a patio, swimming pool, and private parking.
The property sits on an expansive 25' x 200' lot that extends block to block, with access from two streets and valuable off-street parking from 14th Road. An unfinished basement adds further flexibility, with the option to incorporate it into the owner’s apartment or keep it as a separate space.
Comfort and hot water are supported by two gas heating units and two separate gas hot water heaters. Conveniently located less than one block from the Q26 bus stop and close to shopping, schools, parks, and major roadways, the home is designed to support a range of living and rental needs.
The property sits on an expansive 25' x 200' lot that extends block to block, with access from two streets and valuable off-street parking from 14th Road. An unfinished basement adds further flexibility, with the option to incorporate it into the owner’s apartment or keep it as a separate space.
Comfort and hot water are supported by two gas heating units and two separate gas hot water heaters. Conveniently located less than one block from the Q26 bus stop and close to shopping, schools, parks, and major roadways, the home is designed to support a range of living and rental needs.
Key Highlights
- Brick triplex built in 1920
- Owner’s loft‑style apartment with direct backyard access
- 25' x 200' lot extends block to block with access from two streets
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
$73,333
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
5.28%
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%
$1,466,660
$1.5M
Cap Rate 7%
$1,047,614
$1.0M
Cap Rate 9%
$814,811
$814.8K
Market Conditions
NOI Build-Up for 3,000 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
$138.6K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$133.3K $44.44/SF
− OpEx
−$60.0K −$20.00/SF
NOI
$73.3K $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%
$1,466,660
Cap Rate 7%
$1,047,614
Cap Rate 9%
$814,811
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 5.28%
Second Best
Multifamily LT 5
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
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 - Brick triplex on a lot with two-street access and off-street parking, plus a backyard pool and patio.
Where is this triplex located?
The property is located at 110-31 15th Avenue College Point, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: Brick triplex built in 1920; Owner’s loft‑style apartment with direct backyard access; 25' x 200' lot extends block to block with access from two streets
