Two-Unit Brick
3220 81st Street, East Elmhurst, NY 11370
For Sale
$1,695,000
Two apartments offer three- and four-bedroom layouts, with updated kitchens and a refreshed first-floor bathroom.
Property Size2,262 SF
Price / SF$749.34
Days on Market17
Property Features for 3220 81st Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
First Floor Bedroom
First Floor Full Bath
Building Details
Building Size
Year Built
Buildings
Units
Construction
Listing Agency:
Alexiou Realty
Listed By:
Maria Botsios
(718) 204-0101
Source:
Georgemcknight
Added: Oct 23
Changed: Nov 7
Last Checked: Nov 7 at 7:45PM
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 Alexiou Realty
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Investment Insights
Based on property information with market context.
This brick duplex contains two apartments across its first and upper floors. The first-floor unit has three bedrooms, a newer kitchen and bathroom, while the upper apartment has four bedrooms and a newer kitchen. A full finished basement and a two-car garage are also part of the property, which was built in 1930.
Key Highlights
- Two apartments: a 3‑bedroom first‑floor unit and a 4‑bedroom upper‑floor unit
- Newer kitchen and bathroom in the first‑floor apartment
- Upper apartment includes a newer kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,293
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,860
$1.1M
Cap Rate 7%
$789,900
$789.9K
Cap Rate 9%
$614,367
$614.4K
Market Conditions
NOI Build-Up for 2,262 SF
Gross rent
$104.5K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$100.5K $44.44/SF
− OpEx
−$45.2K −$20.00/SF
NOI
$55.3K $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%
$1,105,860
Cap Rate 7%
$789,900
Cap Rate 9%
$614,367
Alternative Uses
Best Use
Apartment 5plus
$789.9K
$691.2K – $921.6K
NOI $55,293 @ 7.0% cap · market cap 3.26%
Second Best
Multifamily LT 5
$534.9K
$468.0K – $624.0K
NOI $37,440 @ 7.0% cap · market cap 2.21%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,730 @ 7.0% cap · market cap 6.89%
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
3,528
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 - Two apartments offer three- and four-bedroom layouts, with updated kitchens and a refreshed first-floor bathroom.
Where is this duplex located?
The property is located at 3220 81st Street East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Two apartments: a 3‑bedroom first‑floor unit and a 4‑bedroom upper‑floor unit; Newer kitchen and bathroom in the first‑floor apartment; Upper apartment includes a newer kitchen
