East Elmhurst Two-Family
For Sale
$1,100,000
Pending
25-45 72nd St Building, Queens, NY 11370
Gut-renovated two-family house in East Elmhurst, Queens.
Property Size1,632 SF
Lot Size0.05 Acres
Days on Market155
Property Features for 25-45 72nd St Building
General Information
Standard status
Pending
Size
1,632 SF
Lot size
0.05 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,166
Building Details
Building Size
1,632 SF
Year Built
1955
Listing Agency:
R New York
(212) 688-1000
Listed By:
Sanna Iriti
(212) 688-1000
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:09AM
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 R New York
Investment Insights
Based on property information with market context.
This renovated two-family house is located in East Elmhurst, Queens, NY. The property contains two separate apartments. The ground-level apartment is a 1-bedroom, 1-bathroom unit with a living area and a kitchen equipped with modern appliances. It is suitable for individuals or couples and has direct access to the backyard. The second floor apartment is a 2-bedroom, 1-bathroom unit with a semi-open-concept layout that integrates the living, dining, and kitchen areas. The kitchen features countertops, cabinetry, and appliances. Both bedrooms are generously sized. The bathroom is equipped with modern fixtures. This unit includes a washer and dryer. Access to the backyard is available through outdoor stairs, and there is a porch in the front of the apartment. The property includes separate entrances for each unit. The backyard is generously sized. The property is located in East Elmhurst, Queens, NY, with access to local shops, restaurants, and entertainment options. Transportation links, including access to major highways and public transportation, are nearby. The property is suitable for investors or those seeking a multifamily living arrangement.
Key Highlights
- Gut‑renovated two‑family house offering modern living spaces.
- Potential for rental income from two separate apartments.
- Convenient East Elmhurst location with easy access to amenities and transportation.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,893
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$797,860
$797.9K
Cap Rate 7%
$569,900
$569.9K
Cap Rate 9%
$443,256
$443.3K
Market Conditions
NOI Build-Up for 1,632 SF
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.
Gross rent
$75.4K $46.20/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$72.5K $44.44/SF
− OpEx
−$32.6K −$20.00/SF
NOI
$39.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$797,860
Cap Rate 7%
$569,900
Cap Rate 9%
$443,256
Alternative Uses
Best Use
Apartment 5plus
$569.9K
$498.7K – $664.9K
NOI $39,893 @ 7.0% cap · market cap 3.63%
Second Best
Multifamily LT 5
$385.9K
$337.7K – $450.2K
NOI $27,012 @ 7.0% cap · market cap 2.46%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,219 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,105
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Gut-renovated two-family house in East Elmhurst, Queens.
Where is this duplex located?
The property is located at 25-45 72nd St Building Queens, 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: Gut‑renovated two‑family house offering modern living spaces.; Potential for rental income from two separate apartments.; Convenient East Elmhurst location with easy access to amenities and transportation.
