Residential Income Property
20503 JAMAICA AVE Jamaica, NY 11423
20503 JAMAICA AVE, Jamaica, NY, 11423
$2,999,000
For Sale
$2,999,000
Two side-by-side residential income buildings with multiple income-producing units, built in 1933 and 1972.
Property Size5,976 SF
Price / SF$501.84
Days on Market129
Property Features for 20503 JAMAICA AVE
General Information
- Standard status
- Active
- Size
- 5,976 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1933
Listing agency
NYCRB Corp
(516) 712-9262
Listed by
Shirley Abraham
(516) 712-9262
Source
Xome
Added: Mar 15 Updated: Jul 20 at 9:14PM Checked: Jul 21 at 3:10AM
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 NYCRB Corp
Investment Insights
Based on property information with market context.
Offered together as a package are two neighboring residential income buildings on Jamaica Avenue, presented as a side-by-side investment. The combined monthly rent is $16,105.50 (annualized $193,266), supported by occupied units with lease expirations ranging from 2025 to 2030. Year built is 1933 and 1972, and the lot is described as irregular (42x104). The package includes one parking item at $100 per month, with scheduled increases stated in the rent roll.
Expense information provided for the package totals $56,309.00, resulting in a stated net operating income (NOI) of $136,957.00. Expenses include items such as insurance, internet/camera, and utilities, with tenant-paid utilities noted at one building.
This is a for-sale opportunity to acquire both properties together, with income structured through existing leases and stated rent escalations tied to multiple unit agreements.
Expense information provided for the package totals $56,309.00, resulting in a stated net operating income (NOI) of $136,957.00. Expenses include items such as insurance, internet/camera, and utilities, with tenant-paid utilities noted at one building.
This is a for-sale opportunity to acquire both properties together, with income structured through existing leases and stated rent escalations tied to multiple unit agreements.
Key Highlights
- Two side‑by‑side commercial buildings at 190‑27 & 190‑29 Jamaica Ave in Hollis, offered as a package deal.
- Combined current rents total $16,105.50/month ($193,266/year) from multiple income‑producing units.
- Net operating income (NOI) reported at $136,957 for both properties, with combined expenses of $56,309.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $276.1k | $46.20 |
| − Vacancy | −$10.5k | −$1.76 |
| EGI | $265.6k | $44.44 |
| − OpEx | −$119.5k | −$20.00 |
| NOI | $146.1k | $24.44 |
5,976 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.09M
$1.83M – $2.43M
NOI $146,080 @ 7.0% cap · market cap 4.87%
Second Best
Multifamily LT 5
$1.41M
$1.24M – $1.65M
NOI $98,912 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$4.41M
$3.85M – $5.14M
NOI $308,390 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Two side-by-side residential income buildings with multiple income-producing units, built in 1933 and 1972.
Where is this triplex located?
The property is located at 20503 JAMAICA AVE Jamaica, NY.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Two side‑by‑side commercial buildings at 190‑27 & 190‑29 Jamaica Ave in Hollis, offered as a package deal.; Combined current rents total $16,105.50/month ($193,266/year) from multiple income‑producing units.; Net operating income (NOI) reported at $136,957 for both properties, with combined expenses of $56,309.
