Two-Family Home with Finished
New
For Sale
$985,000
11614 Bessemer Street, Richmond Hill, NY 11418
Separate kitchens and full bathrooms serve the two living areas, with additional finished space below grade.
Property Size1,656 SF
Price / SF$594.81
Days on Market5
Property Features for 11614 Bessemer Street
General Information
Standard status
Active
Size
1,656 SF
Total Parking Spaces
4
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,690
Amenities
First Floor Full Bath
Building Details
Building Size
1,656 SF
Year Built
1925
Buildings
1
Units
2
Listing Agency:
Real Broker NY LLC
Listed By:
Liliana Morales
(347) 952-6792
Source:
Georgemcknight
Added: Oct 23
Changed: Oct 26
Last Checked: Oct 26 at 4:07AM
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 Real Broker NY LLC
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Investment Insights
Based on property information with market context.
Configured as two living areas, the home has a first-floor arrangement with two bedrooms, a living room, a kitchen, and a full bathroom. The second floor contains three bedrooms, a living room, a kitchen, and a full bathroom. A finished basement with its own entrance provides additional interior space. The property was built in 1925 and has a private driveway with room for up to 4 cars.
Key Highlights
- Two living areas, each with a kitchen and full bathroom
- First floor includes 2 bedrooms; second floor includes 3 bedrooms
- Finished basement with a separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,480
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$809,600
$809.6K
Cap Rate 7%
$578,286
$578.3K
Cap Rate 9%
$449,778
$449.8K
Market Conditions
NOI Build-Up for 1,656 SF
Gross rent
$76.5K $46.20/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$73.6K $44.44/SF
− OpEx
−$33.1K −$20.00/SF
NOI
$40.5K $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%
$809,600
Cap Rate 7%
$578,286
Cap Rate 9%
$449,778
Alternative Uses
Best Use
Apartment 5plus
$578.3K
$506.0K – $674.7K
NOI $40,480 @ 7.0% cap · market cap 4.11%
Second Best
Multifamily LT 5
$391.6K
$342.6K – $456.8K
NOI $27,409 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,458 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,923
Businesses Nearby
Explore this area
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?
Duplex - Separate kitchens and full bathrooms serve the two living areas, with additional finished space below grade.
Where is this duplex located?
The property is located at 11614 Bessemer Street Richmond Hill, NY.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Two living areas, each with a kitchen and full bathroom; First floor includes 2 bedrooms; second floor includes 3 bedrooms; Finished basement with a separate entrance
