Three-Unit Home with Shared
For Sale
$1,200,000
121-44 6th Avenue, College Point, NY 11356
Detached multifamily residence with separate electric and gas meters, outdoor storage, and a private yard.
Property Size1,950 SF
Days on Market263
Property Features for 121-44 6th Avenue
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$7,512
Building Details
Building Size
1,950 SF
Year Built
1920
Listing Agency:
eXp Realty
Listed By:
Ramanjit Dhanoa
(914) 920-2299
Source:
Barbieliteam
Added: Jan 15
Changed: Sep 30
Last Checked: Oct 4 at 2:17PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Built in 1920, this detached triplex contains three residences: a three-bedroom unit, a two-bedroom unit, and a finished one-bedroom walk-in basement apartment. The first unit is vacant. Separate utility service includes three electric meters and two gas meters, and the property has updated appliances. A shared driveway provides space to park two cars at the rear; the yard also includes a storage shed.
The property is in College Point, Queens, with a Walk Score of 90. MacNeil Park, its waterfront esplanade, and local dining are within walking distance. Nearby transit includes the No. 25 bus to Flushing and the QM2 Express bus to Manhattan; LaGuardia Airport is minutes away. The property is close to P.S. 129 and is within Queens School District 25.
The property is in College Point, Queens, with a Walk Score of 90. MacNeil Park, its waterfront esplanade, and local dining are within walking distance. Nearby transit includes the No. 25 bus to Flushing and the QM2 Express bus to Manhattan; LaGuardia Airport is minutes away. The property is close to P.S. 129 and is within Queens School District 25.
Key Highlights
- Three residences: 3‑bedroom, 2‑bedroom, and finished 1‑bedroom walk‑in basement units
- Detached multifamily property built in 1920
- Separate utility meters: 3 electric and 2 gas
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
$47,667
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
3.97%
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%
$953,340
$953.3K
Cap Rate 7%
$680,957
$681.0K
Cap Rate 9%
$529,633
$529.6K
Market Conditions
NOI Build-Up for 1,950 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
$90.1K $46.20/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$86.7K $44.44/SF
− OpEx
−$39.0K −$20.00/SF
NOI
$47.7K $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%
$953,340
Cap Rate 7%
$680,957
Cap Rate 9%
$529,633
Alternative Uses
Best Use
Apartment 5plus
$681.0K
$595.8K – $794.5K
NOI $47,667 @ 7.0% cap · market cap 3.97%
Second Best
Multifamily LT 5
$461.1K
$403.5K – $537.9K
NOI $32,276 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,629 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
809
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Detached multifamily residence with separate electric and gas meters, outdoor storage, and a private yard.
Where is this triplex located?
The property is located at 121-44 6th Avenue College Point, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three residences: 3‑bedroom, 2‑bedroom, and finished 1‑bedroom walk‑in basement units; Detached multifamily property built in 1920; Separate utility meters: 3 electric and 2 gas
