Renovated Two-Family
For Sale
$1,650,000
1961 80th Street, East Elmhurst, NY 11370
Updated residences offer split A/C, in-unit laundry appliances, dishwashers, and a separate finished flex area.
Property Size2,400 SF
Days on Market93
Property Features for 1961 80th Street
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
1
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,835
Building Details
Building Size
2,400 SF
Year Built
1945
Year Renovated
2020
Buildings
1
Listing Agency:
Keller Williams NYC
Listed By:
Klevis Metani · License #10401268325
(212) 301-1140
Source:
Barbieliteam
Added: Jul 10
Changed: Sep 25
Last Checked: Oct 10 at 12:51AM
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 Keller Williams NYC
Investment Insights
Based on property information with market context.
This two-family property contains a pair of 2-bedroom, 1-bath apartments along with a separately finished flex space on the first floor. Both residences were updated in 2020 and include split A/C units, washers and dryers, and dishwashers. Modern finishes and wide-plank flooring complement bright, functional interiors, while private parking adds convenience. Built in 1945, the home is positioned on a tree-lined residential block in Astoria Heights, within East Elmhurst. The property is near Astoria Park, the restaurants, cafes, and shops along Ditmars Boulevard, major highways, public transportation, and LaGuardia Airport. The two-unit configuration, additional finished area, and private parking provide a practical layout for owner occupancy, extended household use, or rental arrangements, as supported by the existing floor plan.
Key Highlights
- Two 2‑bedroom, 1‑bath apartments
- Separate finished flex space on the first floor
- Updated in 2020 with modern finishes and wide‑plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,667
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,173,340
$1.2M
Cap Rate 7%
$838,100
$838.1K
Cap Rate 9%
$651,856
$651.9K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$110.9K $46.20/SF
− Vacancy
−$4.2K −$1.76/SF
EGI
$106.7K $44.44/SF
− OpEx
−$48.0K −$20.00/SF
NOI
$58.7K $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%
$1,173,340
Cap Rate 7%
$838,100
Cap Rate 9%
$651,856
Alternative Uses
Best Use
Apartment 5plus
$838.1K
$733.3K – $977.8K
NOI $58,667 @ 7.0% cap · market cap 3.56%
Second Best
Multifamily LT 5
$567.5K
$496.6K – $662.1K
NOI $39,724 @ 7.0% cap · market cap 2.41%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,852 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Explore this area
Business Placement
Demographics for 11370, NY
34,683
Population
11,679
Households
3
Avg Household Size
38
Median Age
25%
College-Educated
77%
High-School Grad
1.5 sq mi
ZIP Area
23,122
Density / Sq Mi
$74,895
Median Household Income
$43,313
Median Earnings
$2,071
Median Rent
$843,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - Updated residences offer split A/C, in-unit laundry appliances, dishwashers, and a separate finished flex area.
Where is this duplex located?
The property is located at 1961 80th Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath apartments; Separate finished flex space on the first floor; Updated in 2020 with modern finishes and wide‑plank flooring
