Legal Two-Family
215-08 23rd Road Queens, NY 11360
215-08 23rd Road, Queens, NY, 11360
$1,860,000
For Sale
$1,860,000
Legal two-family home with private yard, attached garage, and central heating, with both units currently leased through 2027–2028.
Property Size3,560 SF
Price / SF$522.47
Days on Market34
Property Features for 215-08 23rd Road
General Information
- Standard status
- Active
- Size
- 3,560 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1970
Listing agency
EXIT Realty Premier
(516) 795-1000
Listed by
Anna Beigelman
(516) 795-1000
Source
Compass
Added: Jun 19 Updated: Jul 21 at 8:08PM Checked: Jul 22 at 11:29AM
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 EXIT Realty Premier
Investment Insights
Based on property information with market context.
This legal two-family residence offers a total of 3,560 square feet plus a basement with high ceilings. The layout provides a house-like feel with both units configured with multiple bedrooms and bathrooms, along with private laundry rooms for each unit. The property also includes a 2-car garage and a 2-car driveway, and the downstairs unit has interior garage access. Additional systems include gas heating, and the home features a brand-new roof, a younger central air system, and a younger boiler.
Both units are currently leased. The upstairs unit includes 3 bedrooms and 2 baths and is leased for $3,200 per month through 6/2027. The downstairs unit includes 4 bedrooms and 2.5 baths, includes use of an unfinished basement, and is leased for $3,670 per month through 5/2028. The property has a private yard with no rear neighbors.
Situated in Bay Terrace, the home is described as being well maintained, with both tenants in excellent standing.
Both units are currently leased. The upstairs unit includes 3 bedrooms and 2 baths and is leased for $3,200 per month through 6/2027. The downstairs unit includes 4 bedrooms and 2.5 baths, includes use of an unfinished basement, and is leased for $3,670 per month through 5/2028. The property has a private yard with no rear neighbors.
Situated in Bay Terrace, the home is described as being well maintained, with both tenants in excellent standing.
Key Highlights
- Legal 2‑family home with 3,560 sq ft plus a partial basement and house‑feel layouts
- Upstairs unit: 3 bedrooms, 2 bathrooms; rents for $3,200/month, leased through 6/2027
- Downstairs unit: 4 bedrooms, 2.5 bathrooms; rents for $3,670/month, leased through 5/2028
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 | $164.5k | $46.20 |
| − Vacancy | −$6.2k | −$1.76 |
| EGI | $158.2k | $44.44 |
| − OpEx | −$71.2k | −$20.00 |
| NOI | $87.0k | $24.44 |
3,560 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $87,022 @ 7.0% cap · market cap 4.68%
Second Best
Multifamily LT 5
$841.8K
$736.6K – $982.1K
NOI $58,924 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$2.62M
$2.30M – $3.06M
NOI $183,713 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Legal two-family home with private yard, attached garage, and central heating, with both units currently leased through 2027–2028.
Where is this duplex located?
The property is located at 215-08 23rd Road Queens, NY.
What is the asking price?
The asking price for this property is $1,860,000.
What are key features of this property?
This property features: Legal 2‑family home with 3,560 sq ft plus a partial basement and house‑feel layouts; Upstairs unit: 3 bedrooms, 2 bathrooms; rents for $3,200/month, leased through 6/2027; Downstairs unit: 4 bedrooms, 2.5 bathrooms; rents for $3,670/month, leased through 5/2028
