Kew Garden Hills Multi-Family
For Sale
$1,799,000
Pending
147-12 70 Road, Kew Garden Hills, NY 11367
MULTI_FAMILY - Kew Garden Hills, NY
Property Size3,280 SF
Lot Size0.06 Acres
Days on Market119
Property Features for 147-12 70 Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bedroom 5, Bathroom 3, Dining Room, Bathroom 2, Bedroom 1, Bathroom 5, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 7, Bedroom 2, Bedroom 6
Parking
3
Parking features
Driveway
Window features
Screens, Double Pane Windows, Insulated Windows, Skylight(s), ENERGY STAR Qualified WIndows
Patio and Porch features
Patio, Porch
Interior features
Cathedral Ceiling(s), Eat-in Kitchen, Entrance Foyer, ENERGY STAR Qualified Door(s), Formal Dining, Granite Counters, Low Flow Plumbing Fixtures, Primary Bathroom, Pantry, Smart Thermostat
Exterior features
Balcony
Fencing
Fenced
Lot features
Near Public Transit, Near School, Near Shops, Stone/ Brick Wall
Middle school
Is 250 Robert F Kennedy Comm Ms (The
High school
John Bowne High School
Elementary school district
Queens 25
Middle school district
Queens 25
High school district
Queens 25
Directions
Google Maps
Standard status
Pending
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13259
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Ductless
Water source
Public
Amenities
wheelchair-accessible apartment
custom wood kitchen
stainless steel appliances
washer/dryer
air conditioning units
fenced backyard
front porch
balcony
wood floors
Building Details
Year built
1965
Number of units
3
Flooring type
Hardwood
Building materials
Brick, Stucco
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Inessa Rubinov
(888) 276-0630
Added: Apr 17
Changed: Aug 3
Last Checked: Aug 13 at 8:06AM
MLS# 986678
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This legal three-family house is situated in the heart of Kew Garden Hills. The building measures 20x57 feet and sits on a 20x128 foot lot. The first floor features a walk-in and wheelchair-accessible apartment with approximately 1000 square feet of living space, including a living room, dining room, a custom wood kitchen with stainless steel appliances, two bedrooms, a full bathroom, a washer/dryer, three A/C units, and access to a fenced backyard. The second floor offers approximately 1140 square feet of living space, including a front porch, foyer, living room, dining room, a custom wood kitchen with stainless steel appliances, wood floors throughout, two bedrooms, two full baths, a washer/dryer, three A/C units, and access to a balcony. The third floor also provides approximately 1140 square feet of living space, including a foyer, living room, dining room, a custom wood kitchen with stainless steel appliances, wood floors throughout, three bedrooms, two full baths, a washer/dryer, four A/C units, and access to a balcony. A private driveway accommodates parking for three cars, with additional street parking available.
Key Highlights
- Legal 3‑family brick stucco home built in 1965 with three separate apartments
- Total building size 20x57 on a 20x128 lot, with public water and public sewer
- 1st‑floor unit: approx. 1000 SF with walk‑in wheelchair‑accessible layout, 2 bedrooms, full bath, washer/dryer, 3 A/C units
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
$80,178
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
4.46%
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%
$1,603,560
$1.6M
Cap Rate 7%
$1,145,400
$1.1M
Cap Rate 9%
$890,867
$890.9K
Market Conditions
NOI Build-Up for 3,280 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
$151.5K $46.20/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$145.8K $44.44/SF
− OpEx
−$65.6K −$20.00/SF
NOI
$80.2K $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%
$1,603,560
Cap Rate 7%
$1,145,400
Cap Rate 9%
$890,867
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.00M – $1.34M
NOI $80,178 @ 7.0% cap · market cap 4.46%
Second Best
Multifamily LT 5
$775.6K
$678.6K – $904.8K
NOI $54,289 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$2.42M
$2.12M – $2.82M
NOI $169,264 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,236
Businesses Nearby
Explore this area
Business Placement
Demographics for 11367, NY
43,112
Population
15,693
Households
2.7
Avg Household Size
37
Median Age
46%
College-Educated
84%
High-School Grad
1.9 sq mi
ZIP Area
22,691
Density / Sq Mi
$75,804
Median Household Income
$45,052
Median Earnings
$1,774
Median Rent
$519,800
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 house in the heart of Kew Garden Hills.
Where is this triplex located?
The property is located at 147-12 70 Road Kew Garden Hills, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Legal 3‑family brick stucco home built in 1965 with three separate apartments; Total building size 20x57 on a 20x128 lot, with public water and public sewer; 1st‑floor unit: approx. 1000 SF with walk‑in wheelchair‑accessible layout, 2 bedrooms, full bath, washer/dryer, 3 A/C units
