Three-Family Income
For Sale
$1,499,000
Pending
73-07 Woodside Ave, Queens, NY 11377
Well-maintained legal 3-family with recent bathroom and kitchen updates, plus a new rubber roof.
Property Size3,205 SF
Days on Market37
Property Features for 73-07 Woodside Ave
General Information
Standard status
Pending
Size
3,205 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,191
Building Details
Building Size
3,205 SF
Year Built
1945
Units
3
Listing Agency:
Oversouth LLC
(516) 587-3283
Listed By:
Mathias Coni
(516) 587-3283
Source:
Elliman
Added: Jul 9
Changed: Aug 8
Last Checked: Aug 14 at 10:27AM
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 Oversouth LLC
Investment Insights
Based on property information with market context.
This well-maintained legal three-family property offers three separate apartments within a single residential income building. Recent updates include a renovated bathroom, an updated kitchen in the third-floor unit, and a new rubber roof installed in April 2026. The third-floor unit also has dedicated solar panels servicing that unit.
The property is located on Woodside Avenue in Queens. The public remarks describe convenience to major transportation and local daily amenities, and note it is situated between the BQE and Roosevelt Avenue.
For tenants and investors, this configuration provides a straightforward three-unit income setup with documented recent improvements.
The property is located on Woodside Avenue in Queens. The public remarks describe convenience to major transportation and local daily amenities, and note it is situated between the BQE and Roosevelt Avenue.
For tenants and investors, this configuration provides a straightforward three-unit income setup with documented recent improvements.
Key Highlights
- Legal 3‑family property built in 1945.
- New rubber roof installed April 2026.
- Recent updates include a renovated bathroom and an updated kitchen in the third‑floor unit.
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
$78,344
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
5.23%
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%
$1,566,880
$1.6M
Cap Rate 7%
$1,119,200
$1.1M
Cap Rate 9%
$870,489
$870.5K
Market Conditions
NOI Build-Up for 3,205 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
$148.1K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$142.4K $44.44/SF
− OpEx
−$64.1K −$20.00/SF
NOI
$78.3K $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%
$1,566,880
Cap Rate 7%
$1,119,200
Cap Rate 9%
$870,489
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$979.3K – $1.31M
NOI $78,344 @ 7.0% cap · market cap 5.23%
Second Best
Multifamily LT 5
$757.8K
$663.1K – $884.1K
NOI $53,048 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,393 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
7,451
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained legal 3-family with recent bathroom and kitchen updates, plus a new rubber roof.
Where is this triplex located?
The property is located at 73-07 Woodside Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Legal 3‑family property built in 1945.; New rubber roof installed April 2026.; Recent updates include a renovated bathroom and an updated kitchen in the third‑floor unit.
