Brick Triplex with Private
For Sale
$1,578,000
3033 72nd Street, East Elmhurst, NY 11370
Legal three-family property with a backyard, garage, and two front driveway spaces.
Property Size2,761 SF
Days on Market8
Property Features for 3033 72nd Street
General Information
Standard status
Active
Size
2,761 SF
Property subtype
Triplex
Units
Unit Mix
1 x 1BR, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,532
Amenities
private backyard
balcony
Building Details
Building Size
2,761 SF
Year Built
1950
Construction
brick
Listing Agency:
Signature Premier Properties
Listed By:
Cynthia Baltera E-PRO SFR
Source:
Barbieliteam
Added: Aug 6
Changed: Aug 12
Last Checked: Aug 12 at 4:05AM
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 Signature Premier Properties
Investment Insights
Based on property information with market context.
This legal brick triplex, built in 1950, contains three separate apartments. The first unit has one bedroom, while the other two each offer two bedrooms and one bath. The layouts are described as spacious, with balconies serving the two-bedroom apartments. A private backyard, oversized garage, and two dedicated spaces in the front driveway add useful outdoor and parking amenities.
The property is located at 3033 72nd Street in East Elmhurst, on a tree-lined block near restaurants, cafes, shops, bus routes, and other daily conveniences. Public transportation and access to major thoroughfares are also nearby, while the home receives abundant natural light and includes views associated with sunrise and sunset.
The property is located at 3033 72nd Street in East Elmhurst, on a tree-lined block near restaurants, cafes, shops, bus routes, and other daily conveniences. Public transportation and access to major thoroughfares are also nearby, while the home receives abundant natural light and includes views associated with sunrise and sunset.
Key Highlights
- Legal brick triplex with three apartments
- Unit mix includes one 1‑bedroom apartment and two 2‑bedroom, 1‑bath apartments
- Private backyard and balconies for the two‑bedroom apartments
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
$67,491
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
4.28%
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%
$1,349,820
$1.3M
Cap Rate 7%
$964,157
$964.2K
Cap Rate 9%
$749,900
$749.9K
Market Conditions
NOI Build-Up for 2,761 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
$127.6K $46.20/SF
− Vacancy
−$4.8K −$1.76/SF
EGI
$122.7K $44.44/SF
− OpEx
−$55.2K −$20.00/SF
NOI
$67.5K $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%
$1,349,820
Cap Rate 7%
$964,157
Cap Rate 9%
$749,900
Alternative Uses
Best Use
Apartment 5plus
$964.2K
$843.6K – $1.12M
NOI $67,491 @ 7.0% cap · market cap 4.28%
Second Best
Multifamily LT 5
$652.8K
$571.2K – $761.7K
NOI $45,699 @ 7.0% cap · market cap 2.90%
Theoretical Best
Office A
$2.04M
$1.78M – $2.37M
NOI $142,481 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,361
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?
Triplex - Legal three-family property with a backyard, garage, and two front driveway spaces.
Where is this triplex located?
The property is located at 3033 72nd Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,578,000.
What are key features of this property?
This property features: Legal brick triplex with three apartments; Unit mix includes one 1‑bedroom apartment and two 2‑bedroom, 1‑bath apartments; Private backyard and balconies for the two‑bedroom apartments
