Triplex
For Sale
$1,898,000
1516 215th Street, Bayside, NY 11360
This multifamily asset was built in 1970 and is classified as a triplex.
Property Size3,090 SF
Days on Market49
Property Features for 1516 215th Street
General Information
Standard status
Active
Size
3,090 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$16,951
Building Details
Building Size
3,090 SF
Year Built
1970
Listing Agency:
Charles Rutenberg Realty Inc
Listed By:
Rosy Chalif CBR
Source:
Cottiemaxwellrealestate
Added: Sep 10
Changed: Oct 27
Last Checked: Oct 26 at 11:40PM
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 Charles Rutenberg Realty Inc
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Investment Insights
Based on property information with market context.
This multifamily property is classified as a triplex and was constructed in 1970. The asset is located at 1516 215th Street in Bayside, New York 11360.
Key Highlights
- Triplex classification
- Built in 1970
- 1516 215th Street, Bayside, NY 11360
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,533
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,510,660
$1.5M
Cap Rate 7%
$1,079,043
$1.1M
Cap Rate 9%
$839,256
$839.3K
Market Conditions
NOI Build-Up for 3,090 SF
Gross rent
$142.8K $46.20/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$137.3K $44.44/SF
− OpEx
−$61.8K −$20.00/SF
NOI
$75.5K $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 Rate 5%
$1,510,660
Cap Rate 7%
$1,079,043
Cap Rate 9%
$839,256
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$944.2K – $1.26M
NOI $75,533 @ 7.0% cap · market cap 3.98%
Second Best
Multifamily LT 5
$730.6K
$639.3K – $852.4K
NOI $51,144 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,459 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
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Business Placement
Demographics for 11360, NY
20,039
Population
9,874
Households
2
Avg Household Size
52
Median Age
49%
College-Educated
87%
High-School Grad
1.4 sq mi
ZIP Area
14,314
Density / Sq Mi
$100,250
Median Household Income
$67,810
Median Earnings
$2,329
Median Rent
$692,600
Median Home Value
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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?
Triplex - This multifamily asset was built in 1970 and is classified as a triplex.
Where is this triplex located?
The property is located at 1516 215th Street Bayside, NY.
What is the asking price?
The asking price for this property is $1,898,000.
What are key features of this property?
This property features: Triplex classification; Built in 1970; 1516 215th Street, Bayside, NY 11360
