4-Unit Multifamily
New
For Sale
$1,475,000
12615 Jamaica Avenue, Richmond Hill, NY 11418
Finished basement areas extend the apartments, and the rear lower unit has access to a private yard.
Property Size2,880 SF
Price / SF$512.15
Days on Market6
Property Features for 12615 Jamaica Avenue
General Information
Standard status
Active
Size
2,880 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$11,611
Amenities
First Floor Bedroom
First Floor Full Bath
High Speed Internet
Open Kitchen
Recessed Lighting
Building Details
Building Size
2,880 SF
Year Built
1931
Units
4
Listing Agency:
Thomas S. Hennerty
Listed By:
Thomas S. Hennerty · License #3590613
(703) 352-4663
Source:
Georgemcknight
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:16PM
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 Thomas S. Hennerty
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Investment Insights
Based on property information with market context.
This 2,880-square-foot multifamily property, built in 1931, contains four apartments: two with two bedrooms and one full bath each, and two lower-level units with one bedroom and one full bath each. Finished basement areas provide recreational space. The rear lower apartment also has access to a private yard. Renovation work was completed approximately four years ago, and all four units are occupied.
The property is near train and bus service, hospitals, shopping, restaurants, and daily conveniences.
The property is near train and bus service, hospitals, shopping, restaurants, and daily conveniences.
Key Highlights
- Four apartments: two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath lower units
- 2,880 square feet; built in 1931
- Finished basement areas provide recreational space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,400
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,408,000
$1.4M
Cap Rate 7%
$1,005,714
$1.0M
Cap Rate 9%
$782,222
$782.2K
Market Conditions
NOI Build-Up for 2,880 SF
Gross rent
$133.1K $46.20/SF
− Vacancy
−$5.1K −$1.76/SF
EGI
$128.0K $44.44/SF
− OpEx
−$57.6K −$20.00/SF
NOI
$70.4K $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%
$1,408,000
Cap Rate 7%
$1,005,714
Cap Rate 9%
$782,222
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$880.0K – $1.17M
NOI $70,400 @ 7.0% cap · market cap 4.77%
Second Best
Multifamily LT 5
$681.0K
$595.9K – $794.5K
NOI $47,669 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,622 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,632
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
Check the figures for this property
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?
Quadplex - Finished basement areas extend the apartments, and the rear lower unit has access to a private yard.
Where is this quadplex located?
The property is located at 12615 Jamaica Avenue Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Four apartments: two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath lower units; 2,880 square feet; built in 1931; Finished basement areas provide recreational space
