Two-Unit Brick
2441 85th St, East Elmhurst, NY 11370
For Sale
$1,100,000
Separate entrances serve two apartments, each with its own street address and open kitchen-living area.
Property Size1,800 SF
Lot Size0.07 Acres
Price / SF$611.11
Days on Market14
Property Features for 2441 85th St
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Buildings
Construction
Listing Agency:
Sida Realty Group Inc
(929) 367-1099
Listed By:
Sida Zhuoma CBR
(347) 334-2927
Source:
Exprealty
Added: Oct 26
Changed: Nov 7
Last Checked: Nov 7 at 7:17PM
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 Sida Realty Group Inc
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Investment Insights
Based on property information with market context.
This brick two-family home contains two apartments, each with a separate entrance and street address. The first-floor unit has two bedrooms, an open kitchen and living area, stainless steel appliances, and ceramic flooring. Upstairs, the second apartment includes three bedrooms and an open kitchen and living area. Each floor measures approximately 900 square feet.
The property occupies a 31.1-by-100-foot lot, with a 30-by-30-foot building footprint. Current build area is 1,804 square feet, with a maximum buildable area of 3,110 square feet and 1,306 square feet of additional buildable area. Outdoor features include a front yard and rear area with off-street parking potential. Nearby destinations and transit include Gorman Playground, neighborhood shops and restaurants, the M60 Select Bus Service, and Q33 and Q47 buses.
The property occupies a 31.1-by-100-foot lot, with a 30-by-30-foot building footprint. Current build area is 1,804 square feet, with a maximum buildable area of 3,110 square feet and 1,306 square feet of additional buildable area. Outdoor features include a front yard and rear area with off-street parking potential. Nearby destinations and transit include Gorman Playground, neighborhood shops and restaurants, the M60 Select Bus Service, and Q33 and Q47 buses.
Key Highlights
- Two apartments, each with a separate entrance and street address
- First‑floor unit has 2 bedrooms; second‑floor unit has 3 bedrooms
- Approximately 900 square feet on each floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,000
Cap Rate
4.00%
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
NOI $44,000 @ 7.0% cap · market cap 4.00%
Second Best
Multifamily LT 5
$425.6K
$372.4K – $496.6K
NOI $29,793 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,889 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,432
Businesses Nearby
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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
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Market
Properties on Market for Duplexes in East Elmhurst
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances serve two apartments, each with its own street address and open kitchen-living area.
Where is this duplex located?
The property is located at 2441 85th St East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two apartments, each with a separate entrance and street address; First‑floor unit has 2 bedrooms; second‑floor unit has 3 bedrooms; Approximately 900 square feet on each floor
