Two-Family Duplex
New
For Sale
$1,768,888
221-51 59th Avenue, Bayside, NY 11364
Both residences offer three bedrooms, an eat-in kitchen, and separate living and dining areas.
Property Size3,374 SF
Price / SF$524.27
Days on Market6
Property Features for 221-51 59th Avenue
General Information
Standard status
Active
Size
3,374 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$16,000
Amenities
Eat-in Kitchen
Building Details
Building Size
3,374 SF
Year Built
1970
Buildings
1
Units
2
Listing Agency:
Elena Ermogenous
Listed By:
Elena Ermogenous
(646) 621-0303
Source:
Georgemcknight
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:17PM
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 Elena Ermogenous
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Investment Insights
Based on property information with market context.
This two-family residential property contains two three-bedroom residences, each with a primary bedroom and ensuite bath, an additional full bathroom, and a windowed eat-in kitchen adjoining living and dining space. One residence includes a ground-floor foyer and office, plus a lower-level half bath, laundry, and utility rooms. The other has a side entrance and has been updated. Both units are to be delivered vacant.
Built in 1970, the property is located at 221-51 59th Avenue in Bayside, NY. The reported property size is 3,374 square feet.
Built in 1970, the property is located at 221-51 59th Avenue in Bayside, NY. The reported property size is 3,374 square feet.
Key Highlights
- Two residential units, each with three bedrooms
- Both units to be delivered vacant
- Each residence has a primary bedroom with ensuite bath and a second full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,475
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,649,500
$1.6M
Cap Rate 7%
$1,178,214
$1.2M
Cap Rate 9%
$916,389
$916.4K
Market Conditions
NOI Build-Up for 3,374 SF
Gross rent
$155.9K $46.20/SF
− Vacancy
−$5.9K −$1.76/SF
EGI
$150.0K $44.44/SF
− OpEx
−$67.5K −$20.00/SF
NOI
$82.5K $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%
$1,649,500
Cap Rate 7%
$1,178,214
Cap Rate 9%
$916,389
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,475 @ 7.0% cap · market cap 4.66%
Second Best
Multifamily LT 5
$797.8K
$698.1K – $930.8K
NOI $55,845 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,115 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,387
Businesses Nearby
Explore this area
Business Placement
Demographics for 11364, NY
37,032
Population
14,527
Households
2.5
Avg Household Size
45
Median Age
49%
College-Educated
86%
High-School Grad
2.5 sq mi
ZIP Area
14,813
Density / Sq Mi
$101,222
Median Household Income
$55,295
Median Earnings
$2,330
Median Rent
$770,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms, an eat-in kitchen, and separate living and dining areas.
Where is this duplex located?
The property is located at 221-51 59th Avenue Bayside, NY.
What is the asking price?
The asking price for this property is $1,768,888.
What are key features of this property?
This property features: Two residential units, each with three bedrooms; Both units to be delivered vacant; Each residence has a primary bedroom with ensuite bath and a second full bathroom
