Brick Triplex with Finished
For Sale
$1,499,999
111-21 44th Ave, Queens, NY 11368
Legal three-family brick property with a finished basement, backyard access, and proximity to shopping, schools, parks, and transit.
Property Size2,650 SF
Days on Market50
Property Features for 111-21 44th Ave
General Information
Standard status
Active
Size
2,650 SF
Property subtype
Investment
Units
Unit Mix
1 x 1BR/1BA, 2 x 3BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,047
Building Details
Building Size
2,650 SF
Year Built
2005
Stories
3
Units
3
Construction
brick
Listing Agency:
Chase Global Realty Corp
Listed By:
WenXiu Lu
(917) 302-8073
Source:
Elliman
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 26 at 5:50PM
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 Chase Global Realty Corp
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Investment Insights
Based on property information with market context.
Built in 2005, this legal three-family brick property offers a three-story layout with a high-ceiling basement. The finished basement includes a half bath, utility-room access, and an open recreation or entertainment area. The first floor contains one bedroom and one bathroom with direct access to the backyard. Each of the second- and third-floor apartments includes three bedrooms, two bathrooms, and a rear balcony.
The property is located on a quiet residential block in Corona near shopping, schools, parks, and public transportation. The 7 train station is a 5-minute walk away. WalkScore is 92, TransitScore is 100, and BikeScore is 78.
The property is located on a quiet residential block in Corona near shopping, schools, parks, and public transportation. The 7 train station is a 5-minute walk away. WalkScore is 92, TransitScore is 100, and BikeScore is 78.
Key Highlights
- Legal 3‑family brick property built in 2005
- Three‑story layout with a high‑ceiling finished basement
- Basement includes a half bath, utility access, and open recreation space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,778
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,295,560
$1.3M
Cap Rate 7%
$925,400
$925.4K
Cap Rate 9%
$719,756
$719.8K
Market Conditions
NOI Build-Up for 2,650 SF
Gross rent
$122.4K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$117.8K $44.44/SF
− OpEx
−$53.0K −$20.00/SF
NOI
$64.8K $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%
$1,295,560
Cap Rate 7%
$925,400
Cap Rate 9%
$719,756
Alternative Uses
Best Use
Apartment 5plus
$925.4K
$809.7K – $1.08M
NOI $64,778 @ 7.0% cap · market cap 4.32%
Second Best
Multifamily LT 5
$626.6K
$548.3K – $731.0K
NOI $43,862 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,753 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
5,010
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Legal three-family brick property with a finished basement, backyard access, and proximity to shopping, schools, parks, and transit.
Where is this triplex located?
The property is located at 111-21 44th Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: Legal 3‑family brick property built in 2005; Three‑story layout with a high‑ceiling finished basement; Basement includes a half bath, utility access, and open recreation space
