Building Details

Building Size 1,800 SF

Year Built 1940

Buildings 1

Listing Agency: S H V Real Estate Corp

Listed By: Reema Sharma · License #31SH1064229 Show Phone

Source: Cottiemaxwellrealestate

Added: Sep 17 Changed: Oct 2 Last Checked: Oct 4 at 2:20PM

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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 S H V Real Estate Corp

Investment Insights

Based on property information with market context.

This 1940 duplex in Bellerose Manor contains two two-bedroom apartments within approximately 1,800 square feet of built area. Each apartment includes a living room, formal dining room, kitchen, bathroom, and two bedrooms. The property also offers a full finished basement, hardwood flooring throughout, two electric meters, and two gas meters. Total configuration includes four bedrooms and three bathrooms.

Exterior features include a one-car attached garage, a front yard, and a private rear parking space accessed by easement. The property is near NYC and Long Island bus service connecting to the E, F, and J trains, as well as schools, restaurants, a gym, and highways. JFK and LGA airports are approximately 15 minutes away.

Key Highlights

• Two two‑bedroom apartments with four total bedrooms and three bathrooms
• Approximately 1,800 square feet of built area; constructed in 1940
• Full finished basement and hardwood floors throughout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,000

Cap Rate

4.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$880,000 $880.0K

Cap Rate 7%

$628,571 $628.6K

Cap Rate 9%

$488,889 $488.9K

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$83.2K $46.20/SF

− Vacancy

−$3.2K −$1.76/SF

EGI

$80.0K $44.44/SF

− OpEx

−$36.0K −$20.00/SF

NOI

$44.0K $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%

$880,000

Cap Rate 7%

$628,571

Cap Rate 9%

$488,889

Alternative Uses

Best Use

Apartment 5plus

$628.6K

$550.0K – $733.3K (±1% cap)

NOI $44,000 @ 7.0% cap · market cap 4.40%

Second Best

Multifamily LT 5

$425.6K

$372.4K – $496.6K (±1% cap)

NOI $29,793 @ 7.0% cap · market cap 2.98%

Theoretical Best

Office A

$1.33M

$1.16M – $1.55M (±1% cap)

NOI $92,889 @ 7.0% cap · market cap 9.30%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Hair Salon Building Supply Spa & Massage Center Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

2,923

Businesses Nearby

Explore this area Business Placement

Demographics for 11427, NY

24,555

Population

8,435

Households

2.9

Avg Household Size

44

Median Age

36%

College-Educated

84%

High-School Grad

1.6 sq mi

ZIP Area

15,347

Density / Sq Mi

$92,129

Median Household Income

$48,439

Median Earnings

$1,697

Median Rent

$690,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Bellerose Manor income property with two apartments, private rear parking, and convenient access to bus service and area highways.

Where is this duplex located?

The property is located at 232-03 Hillside Avenue Bellerose Manor, NY.

What is the asking price?

The asking price for this property is $999,000.

What are key features of this property?

This property features: Two two‑bedroom apartments with four total bedrooms and three bathrooms; Approximately 1,800 square feet of built area; constructed in 1940; Full finished basement and hardwood floors throughout