Brick Triplex with
For Sale
$1,900,000
90-25 A & Lot 155 Elmhurst Ave, Jackson Heights, NY 11372
Legal three-family property with a private garage, secure assigned parking, and separate residential unit entrances.
Property Size2,680 SF
Price / SF$708.96
Days on Market29
Property Features for 90-25 A & Lot 155 Elmhurst Ave
General Information
Standard status
Active
Size
2,680 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1955
Buildings
1
Stories
3
Listing Agency:
Leatherman Homes
(516) 984-1815
Listed By:
Kevin M. Leatherman ABR SFR C2EX A
Source:
Realtyconnectusa
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 25 at 5:21AM
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 Leatherman Homes
Investment Insights
Based on property information with market context.
This semi-attached legal triplex contains three rental units totaling 2,680 square feet, with five bedrooms and three full baths. The first floor includes a shared lobby, boiler room access, a one-bedroom unit, and a private garage. Two-bedroom, one-bath apartments occupy the second and third floors. Gas heat, gas hot water, surveillance cameras with NVRs, and separate entrances are included. The property also has a fenced parking lot with five assigned spaces.
The building is located on Elmhurst Avenue in Jackson Heights, Queens, near shopping, dining, parks, and daily services. Jackson Heights–Roosevelt Avenue/74th Street station provides access to the E, F, M, R, and 7 trains, with multiple bus routes and major roadways nearby. Approx. 20 to 25 minutes to Midtown Manhattan. Brick pointing and new windows on the first and third floors were completed in approx. 2018.
The building is located on Elmhurst Avenue in Jackson Heights, Queens, near shopping, dining, parks, and daily services. Jackson Heights–Roosevelt Avenue/74th Street station provides access to the E, F, M, R, and 7 trains, with multiple bus routes and major roadways nearby. Approx. 20 to 25 minutes to Midtown Manhattan. Brick pointing and new windows on the first and third floors were completed in approx. 2018.
Key Highlights
- Legal three‑family triplex with 2,680 square feet, 5 bedrooms, and 3 full baths
- Five assigned spaces in a secure, fenced parking lot
- Private garage with access to the lobby
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
$65,511
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
3.45%
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%
$1,310,220
$1.3M
Cap Rate 7%
$935,871
$935.9K
Cap Rate 9%
$727,900
$727.9K
Market Conditions
NOI Build-Up for 2,680 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
$123.8K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$119.1K $44.44/SF
− OpEx
−$53.6K −$20.00/SF
NOI
$65.5K $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 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%
$1,310,220
Cap Rate 7%
$935,871
Cap Rate 9%
$727,900
Alternative Uses
Best Use
Apartment 5plus
$935.9K
$818.9K – $1.09M
NOI $65,511 @ 7.0% cap · market cap 3.45%
Second Best
Multifamily LT 5
$633.7K
$554.5K – $739.3K
NOI $44,358 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,301 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
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 - Legal three-family property with a private garage, secure assigned parking, and separate residential unit entrances.
Where is this triplex located?
The property is located at 90-25 A & Lot 155 Elmhurst Ave Jackson Heights, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Legal three‑family triplex with 2,680 square feet, 5 bedrooms, and 3 full baths; Five assigned spaces in a secure, fenced parking lot; Private garage with access to the lobby
