Two-Unit Duplex with
For Sale
$1,488,888
Pending
25407 60th Avenue, Little Neck, NY 11362
R3X-zoned legal two-family property with a finished basement and separate living areas.
Property Size2,000 SF
Days on Market9
Property Features for 25407 60th Avenue
General Information
Standard status
Pending
Size
2,000 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
R3X
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,783
Amenities
quartz countertops
crown molding
hardwood floors
unit air conditioning
gas cooking
gas heating
Navien system
washer/dryer
Finished,Full,Walk-Out Access
Hardwood
Yes
First Floor Bedroom,First Floor Full Bath,Breakfast Bar,Crown Molding,Eat-in Kitchen,Formal Dining,Kitchen Island,Open Kitchen
Finished, Full, Walk-Out Access
Public
No
Driveway
2000
Building Details
Building Size
2,000 SF
Year Built
1950
Buildings
1
Listing Agency:
(516) 703-2918
Listed By:
Noman Basit
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:15PM
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 Noman Basit
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Investment Insights
Based on property information with market context.
This legal two-family duplex contains two residences, each with two bedrooms, one full bath, an eat-in kitchen, a living room, and a dining room. The main-floor unit connects to a finished, walk-out basement with a washer and dryer. Interior finishes and systems include quartz countertops, hardwood floors, crown molding, individual air-conditioning systems, gas cooking, and gas heat served by a Navien system.
The property includes a private driveway and a three-car garage. Built in 1950, it has a reported property size of 2,000 and is zoned R3X.
The property includes a private driveway and a three-car garage. Built in 1950, it has a reported property size of 2,000 and is zoned R3X.
Key Highlights
- Legal two‑family duplex with R3X zoning
- Each residence has 2 bedrooms, 1 full bath, an eat‑in kitchen, living room, and dining room
- Finished walk‑out basement with washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,889
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,780
$977.8K
Cap Rate 7%
$698,414
$698.4K
Cap Rate 9%
$543,211
$543.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$92.4K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$88.9K $44.44/SF
− OpEx
−$40.0K −$20.00/SF
NOI
$48.9K $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 Rate 5%
$977,780
Cap Rate 7%
$698,414
Cap Rate 9%
$543,211
Alternative Uses
Best Use
Apartment 5plus
$698.4K
$611.1K – $814.8K
NOI $48,889 @ 7.0% cap · market cap 3.28%
Second Best
Multifamily LT 5
$472.9K
$413.8K – $551.7K
NOI $33,103 @ 7.0% cap · market cap 2.22%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,210 @ 7.0% cap · market cap 6.93%
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
663
Businesses Nearby
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Business Placement
Demographics for 11362, NY
18,139
Population
7,634
Households
2.4
Avg Household Size
48
Median Age
52%
College-Educated
93%
High-School Grad
2.1 sq mi
ZIP Area
8,638
Density / Sq Mi
$118,989
Median Household Income
$62,132
Median Earnings
$2,548
Median Rent
$634,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - R3X-zoned legal two-family property with a finished basement and separate living areas.
Where is this duplex located?
The property is located at 25407 60th Avenue Little Neck, NY.
What is the asking price?
The asking price for this property is $1,488,888.
What are key features of this property?
This property features: Legal two‑family duplex with R3X zoning; Each residence has 2 bedrooms, 1 full bath, an eat‑in kitchen, living room, and dining room; Finished walk‑out basement with washer and dryer
