Two-Over-One-Over-Studio
123-09 20th Avenue, College Point, NY 11356
For Sale
$1,199,500
Legal three-family property with a 2-over-1-over-studio layout and upper units ready for immediate occupancy.
Property Size1,734 SF
Days on Market197
Property Features for 123-09 20th Avenue
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Coldwell Banker American Homes
Listed By:
Gavesh Meghan
(929) 318-3784
Source:
Serhant
Added: Apr 27
Changed: Nov 2
Last Checked: Nov 8 at 11:59AM
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 Coldwell Banker American Homes
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Investment Insights
Based on property information with market context.
This legal three-family triplex offers a 2-over-1-over-studio layout. The property is described as well-maintained and rent-ready, with the upper units in great condition and ready for immediate occupancy or income. The studio provides an opportunity for customization to add the next owner’s touch.
Access and everyday convenience are emphasized in the surrounding area, including a Q20 and Q26 bus stop located just steps away. The front door is described as opening to Poppenhusen Playground, and the property is positioned just down the street from College Point Blvd, with shopping, grocery stores, dining, and daily conveniences noted as being about one block away.
Built in 1920, the property is presented as a practical multifamily option in a high-demand location.
Access and everyday convenience are emphasized in the surrounding area, including a Q20 and Q26 bus stop located just steps away. The front door is described as opening to Poppenhusen Playground, and the property is positioned just down the street from College Point Blvd, with shopping, grocery stores, dining, and daily conveniences noted as being about one block away.
Built in 1920, the property is presented as a practical multifamily option in a high-demand location.
Key Highlights
- Legal three‑family triplex with a 2‑over‑1‑over‑studio layout
- Upper units described as in great condition and ready for immediate occupancy
- Studio unit offers customization opportunity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,848
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$856,960
$857.0K
Cap Rate 7%
$612,114
$612.1K
Cap Rate 9%
$476,089
$476.1K
Market Conditions
NOI Build-Up for 1,734 SF
Gross rent
$66.6K $38.40/SF
− Vacancy
−$5.4K −$3.10/SF
EGI
$61.2K $35.30/SF
− OpEx
−$18.4K −$10.59/SF
NOI
$42.8K $24.71/SF
Area
Queens County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$856,960
Cap Rate 7%
$612,114
Cap Rate 9%
$476,089
Alternative Uses
Best Use
Multifamily LT 5
$612.1K
$535.6K – $714.1K
NOI $42,848 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$605.5K
$529.8K – $706.5K
NOI $42,387 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,483 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,756
Businesses Nearby
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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
$893,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Queens County, NY
Properties on Market for Triplexes in Queens County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Legal three-family property with a 2-over-1-over-studio layout and upper units ready for immediate occupancy.
Where is this triplex located?
The property is located at 123-09 20th Avenue College Point, NY.
What is the asking price?
The asking price for this property is $1,199,500.
What are key features of this property?
This property features: Legal three‑family triplex with a 2‑over‑1‑over‑studio layout; Upper units described as in great condition and ready for immediate occupancy; Studio unit offers customization opportunity
