Triplex with Two
New
For Sale
$1,459,000
11097 85th Avenue, Richmond Hill, NY 11418
Three apartments are arranged as two 3-bedroom units and one 1-bedroom unit.
Property Size3,719 SF
Lot Size0.13 Acres
Price / SF$392.31
Days on Market2
Property Features for 11097 85th Avenue
General Information
Standard status
Active
Size
3,719 SF
Total Parking Spaces
2
Lot size
0.13 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR, 1 x 1BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,581
Amenities
open porch
Finished,Full
3
No
Yes
7
First Floor Bedroom
Finished, Full
Public
Driveway
3719
Building Details
Building Size
3,719 SF
Year Built
1915
Listing Agency:
Weichert Realtors TMT Group
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 31
Last Checked: Oct 31 at 2:19PM
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 Weichert Realtors TMT Group
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Investment Insights
Based on property information with market context.
This 3,719-square-foot triplex, built in 1915, contains three apartments totaling 7 bedrooms and 3 full bathrooms. The unit mix includes two 3-bedroom apartments and a 1-bedroom apartment. An open porch and two separate garages are also part of the property, which sits on a 5,500-square-foot lot.
At 11097 85th Avenue in Richmond Hill, the property is described as near shopping, transportation, parks, and recreation. The porch faces a tree-lined street.
At 11097 85th Avenue in Richmond Hill, the property is described as near shopping, transportation, parks, and recreation. The porch faces a tree-lined street.
Key Highlights
- Three apartments with a 3‑bedroom, 3‑bedroom, and 1‑bedroom mix
- 7 bedrooms and 3 full bathrooms
- 3,719 square feet on a 5,500‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,909
Cap Rate
6.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,818,180
$1.8M
Cap Rate 7%
$1,298,700
$1.3M
Cap Rate 9%
$1,010,100
$1.0M
Market Conditions
NOI Build-Up for 3,719 SF
Gross rent
$171.8K $46.20/SF
− Vacancy
−$6.5K −$1.76/SF
EGI
$165.3K $44.44/SF
− OpEx
−$74.4K −$20.00/SF
NOI
$90.9K $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%
$1,818,180
Cap Rate 7%
$1,298,700
Cap Rate 9%
$1,010,100
Alternative Uses
Best Use
Apartment 5plus
$1.30M
$1.14M – $1.52M
NOI $90,909 @ 7.0% cap · market cap 6.23%
Second Best
Multifamily LT 5
$879.4K
$769.4K – $1.03M
NOI $61,555 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $191,918 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,580
Businesses Nearby
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Business Placement
Demographics for 11418, NY
37,596
Population
12,072
Households
3.1
Avg Household Size
37
Median Age
32%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
22,115
Density / Sq Mi
$84,927
Median Household Income
$44,818
Median Earnings
$1,788
Median Rent
$772,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments are arranged as two 3-bedroom units and one 1-bedroom unit.
Where is this triplex located?
The property is located at 11097 85th Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,459,000.
What are key features of this property?
This property features: Three apartments with a 3‑bedroom, 3‑bedroom, and 1‑bedroom mix; 7 bedrooms and 3 full bathrooms; 3,719 square feet on a 5,500‑square‑foot lot
