Long Island City Investment
For Sale
$1,100,000
Pending
2123 33rd Ave, Queens, NY 11106
Three-family property with potential in a growing NYC neighborhood.
Property Size2,938 SF
Days on Market153
Property Features for 2123 33rd Ave
General Information
Standard status
Pending
Size
2,938 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,947
Building Details
Building Size
2,938 SF
Year Built
1920
Units
3
Listing Agency:
Compass Greater NY LLC
Listed By:
Jagmeet S. Bedi · License #40BE1170282
(646) 643-2334
Source:
Elliman
Added: May 19
Changed: Oct 9
Last Checked: Oct 16 at 9:29AM
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 Compass Greater NY LLC
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Investment Insights
Based on property information with market context.
Located in Long Island City, New York, this property features two separate homes on one lot, including a single-family home and a two-family home, both with basements. The property is currently tenant-occupied, with limited interior access. The property requires renovation. Situated in a growing neighborhood, this property offers potential for rental income, redevelopment, or long-term appreciation. The location is near transportation, shops, restaurants, and major highways. The bike score is 80, making it very bikeable. The walk score is 97, indicating it is a walker's paradise, and the transit score is 99, signifying it is a rider's paradise.
Key Highlights
- Prime investment opportunity in Long Island City.
- Excellent transit score (99) and walk score (97).**
- Two separate homes (single‑family and two‑family) on one lot.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,818
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,436,360
$1.4M
Cap Rate 7%
$1,025,971
$1.0M
Cap Rate 9%
$797,978
$798.0K
Market Conditions
NOI Build-Up for 2,938 SF
Gross rent
$135.7K $46.20/SF
− Vacancy
−$5.2K −$1.76/SF
EGI
$130.6K $44.44/SF
− OpEx
−$58.8K −$20.00/SF
NOI
$71.8K $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 Rate 5%
$1,436,360
Cap Rate 7%
$1,025,971
Cap Rate 9%
$797,978
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$897.7K – $1.20M
NOI $71,818 @ 7.0% cap · market cap 6.53%
Second Best
Multifamily LT 5
$694.7K
$607.9K – $810.5K
NOI $48,629 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,615 @ 7.0% cap · market cap 13.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
5,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 11106, NY
41,722
Population
21,681
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
46,358
Density / Sq Mi
$85,573
Median Household Income
$62,254
Median Earnings
$2,032
Median Rent
$639,200
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
Frequently Asked Questions
What type of property is this?
Triplex - Three-family property with potential in a growing NYC neighborhood.
Where is this triplex located?
The property is located at 2123 33rd Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Prime investment opportunity in Long Island City.; Excellent transit score (99) and walk score (97).**; Two separate homes (single‑family and two‑family) on one lot.
