Legally Permitted Two-Family Corner
For Sale
$1,048,000
23-58 80th Street, East Elmhurst, NY 11370
Newly renovated 2006 all-brick two-family with three above-ground floors, basement, and R4 zoning near transit.
Days on Market40
Property Features for 23-58 80th Street
General Information
Standard status
Active
Total Parking Spaces
5
Property subtype
Duplex
Zoning
R4
Additional Details
Cap Rate
8%
Amenities
sitting area for barbecues
Building Details
Building Size
1,365 SF
Year Built
2006
Buildings
1
Stories
3
Construction
all-brick
Tenancy
Multi
Listing Agency:
E Realty International Corp
(516) 493-5363
Listed By:
Yanan Eill · License #984506
Source:
Serhant
Added: Jun 23
Changed: Jul 30
Last Checked: Aug 1 at 10:39AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This legally permitted two-family, all-brick corner home was built in 2006 and features three above-ground floors plus a basement. The property has been newly renovated with high ceilings and hardwood floors.
The first floor includes one bedroom and one bathroom, with a kitchen and living room. The second and third floors are each configured with two bedrooms and two bathrooms, along with kitchen and living room space. The basement has a separate entrance, a storage room, and an additional bathroom.
The home offers outdoor sitting space and multiple parking spaces for four to five cars. It is zoned R4. For transportation, it is about a two-minute walk to bus stops for Q19, Q69, Q33, and Q47, supporting convenient access for Manhattan commuters.
The first floor includes one bedroom and one bathroom, with a kitchen and living room. The second and third floors are each configured with two bedrooms and two bathrooms, along with kitchen and living room space. The basement has a separate entrance, a storage room, and an additional bathroom.
The home offers outdoor sitting space and multiple parking spaces for four to five cars. It is zoned R4. For transportation, it is about a two-minute walk to bus stops for Q19, Q69, Q33, and Q47, supporting convenient access for Manhattan commuters.
Key Highlights
- Legally permitted two‑family all‑brick corner home built in 2006
- Newly renovated interiors with high ceilings and hardwood floors
- Three above‑ground floors plus basement; basement has separate entrance
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 | $63.1k | $46.20 |
| − Vacancy | −$2.4k | −$1.76 |
| EGI | $60.7k | $44.44 |
| − OpEx | −$27.3k | −$20.00 |
| NOI | $33.4k | $24.44 |
1,365 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$476.7K
$417.1K – $556.1K
NOI $33,367 @ 7.0% cap · market cap 3.18%
Second Best
Multifamily LT 5
$322.8K
$282.4K – $376.6K
NOI $22,593 @ 7.0% cap · market cap 2.16%
Theoretical Best
Office A
$1.01M
$880.5K – $1.17M
NOI $70,441 @ 7.0% cap · market cap 6.72%
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
890
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 - Newly renovated 2006 all-brick two-family with three above-ground floors, basement, and R4 zoning near transit.
Where is this duplex located?
The property is located at 23-58 80th Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,048,000.
What are key features of this property?
This property features: Legally permitted two‑family all‑brick corner home built in 2006; Newly renovated interiors with high ceilings and hardwood floors; Three above‑ground floors plus basement; basement has separate entrance
