Semi-Detached Two-Family
New
For Sale
$1,490,000
22314 56th Avenue, Oakland Gardens, NY 11364
Semi-detached two-family home with a vacant second-floor 3-bedroom unit and a rear 1-bedroom unit occupied by a long-term tenant.
Property Size3,402 SF
Price / SF$437.98
Days on Market3
Property Features for 22314 56th Avenue
General Information
Standard status
Active
Size
3,402 SF
Property subtype
Duplex
Building Details
Building Size
3,402 SF
Year Built
1970
Buildings
1
Tenancy
Multi
Listing Agency:
Fultonex Realty LLC
(718) 216-0548
Listed By:
Jianing Carlisle · License #10301212971
Source:
Luxuryhomeny
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 30 at 2:07PM
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 Fultonex Realty LLC
Investment Insights
Based on property information with market context.
Semi-detached two-family home built in 1970 offering two separate residential units. The second floor features a spacious 3-bedroom, 2-bath apartment that is currently vacant and ready for immediate renovation or owner occupancy. The property also includes a full, finished basement with laundry hookups for additional usable space.
At the rear of the property is a separate 1-bedroom, 1-bath unit that is currently occupied by a long-term tenant, providing in-place rental occupancy while renovations are completed elsewhere. The home is being sold as-is.
With the combination of a vacant unit and an occupied unit, the property supports flexible use and renovation planning for investors, contractors, or end users seeking a two-family setup in a residential setting in Oakland Gardens, Queens.
At the rear of the property is a separate 1-bedroom, 1-bath unit that is currently occupied by a long-term tenant, providing in-place rental occupancy while renovations are completed elsewhere. The home is being sold as-is.
With the combination of a vacant unit and an occupied unit, the property supports flexible use and renovation planning for investors, contractors, or end users seeking a two-family setup in a residential setting in Oakland Gardens, Queens.
Key Highlights
- Semi‑detached two‑family home built in 1970
- Second‑floor 3‑bedroom, 2‑bath unit is currently vacant
- Rear 1‑bedroom, 1‑bath unit is occupied by a long‑term tenant
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 | $157.2k | $46.20 |
| − Vacancy | −$6.0k | −$1.76 |
| EGI | $151.2k | $44.44 |
| − OpEx | −$68.0k | −$20.00 |
| NOI | $83.2k | $24.44 |
3,402 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,160 @ 7.0% cap · market cap 5.58%
Second Best
Multifamily LT 5
$804.4K
$703.9K – $938.5K
NOI $56,309 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$2.51M
$2.19M – $2.93M
NOI $175,560 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
952
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
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 - Semi-detached two-family home with a vacant second-floor 3-bedroom unit and a rear 1-bedroom unit occupied by a long-term tenant.
Where is this duplex located?
The property is located at 22314 56th Avenue Oakland Gardens, NY.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Semi‑detached two‑family home built in 1970; Second‑floor 3‑bedroom, 2‑bath unit is currently vacant; Rear 1‑bedroom, 1‑bath unit is occupied by a long‑term tenant
