Two-Unit Corner
New
For Sale
$988,000
2063 Hazen Street, East Elmhurst, NY 11370
Corner property with separate three-bedroom and two-bedroom residences.
Property Size1,548 SF
Days on Market5
Property Features for 2063 Hazen Street
General Information
Standard status
Active
Size
1,548 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,760
Building Details
Building Size
1,548 SF
Year Built
1960
Listing Agency:
Signature Premier Properties
(917) 428-3663
Listed By:
Tammy Blau
Source:
Barbieliteam
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 23 at 8:45AM
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 Signature Premier Properties
Investment Insights
Based on property information with market context.
Built in 1960, this duplex offers two residential units within a corner property. The layouts include one three-bedroom, one-bath residence and a separate two-bedroom, one-bath residence, providing a distinct configuration for each household.
The property is located at 2063 Hazen Street in East Elmhurst, New York, with an 11370 ZIP code. Its two-unit design and differing bedroom counts create a straightforward residential income property format.
The property is located at 2063 Hazen Street in East Elmhurst, New York, with an 11370 ZIP code. Its two-unit design and differing bedroom counts create a straightforward residential income property format.
Key Highlights
- Two‑unit duplex configuration
- One 3‑bedroom, 1‑bath residence
- One 2‑bedroom, 1‑bath residence
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
$37,840
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
3.83%
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%
$756,800
$756.8K
Cap Rate 7%
$540,571
$540.6K
Cap Rate 9%
$420,444
$420.4K
Market Conditions
NOI Build-Up for 1,548 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
$71.5K $46.20/SF
− Vacancy
−$2.7K −$1.76/SF
EGI
$68.8K $44.44/SF
− OpEx
−$31.0K −$20.00/SF
NOI
$37.8K $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%
$756,800
Cap Rate 7%
$540,571
Cap Rate 9%
$420,444
Alternative Uses
Best Use
Apartment 5plus
$540.6K
$473.0K – $630.7K
NOI $37,840 @ 7.0% cap · market cap 3.83%
Second Best
Multifamily LT 5
$366.0K
$320.3K – $427.0K
NOI $25,622 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$1.14M
$998.6K – $1.33M
NOI $79,884 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,747
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Corner property with separate three-bedroom and two-bedroom residences.
Where is this duplex located?
The property is located at 2063 Hazen Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $988,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; One 3‑bedroom, 1‑bath residence; One 2‑bedroom, 1‑bath residence
