Renovated Two-Family
For Sale
$1,395,000
3722 27th Street, Long Island City, NY 11101
A separate two-bedroom rental sits above the owner’s duplex in this three-story residential property.
Property Size2,300 SF
Price / SF$606.52
Days on Market11
Property Features for 3722 27th Street
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,899
Amenities
Finished,Full
Yes
First Floor Bedroom,First Floor Full Bath,Chefs Kitchen,Granite Counters,Primary Bathroom,Recessed Lighting,Walk Through Kitchen,Washer/Dryer Hookup
Finished, Full
Public
No
On Street
2300
Building Details
Building Size
2,300 SF
Year Built
1915
Buildings
1
Stories
3
Listing Agency:
Keystone Realty USA Corp
(516) 703-2918
Listed By:
Josephine Nicolosi
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 4:44PM
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 Keystone Realty USA Corp
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Investment Insights
Based on property information with market context.
This three-story, two-family property pairs a two-bedroom, one-bath rental with an owner’s duplex. Renovations include herringbone wood flooring, recessed lighting, updated electrical, heating and plumbing systems, and central AC. The kitchens have custom cabinetry, stainless steel appliances and island seating; bathrooms feature tiled walls and floors. The property was built in 1915.
In Long Island City, the property is near 21st Street, 38th Street and Crescent Street. The surrounding area includes schools, shopping centers, restaurants, cafes and parks, with major transportation nearby.
In Long Island City, the property is near 21st Street, 38th Street and Crescent Street. The surrounding area includes schools, shopping centers, restaurants, cafes and parks, with major transportation nearby.
Key Highlights
- Three‑story, two‑family residential property
- Two‑bedroom, one‑bath rental above the owner’s duplex
- Renovated with updated electrical, heating and plumbing, plus central AC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,222
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,124,440
$1.1M
Cap Rate 7%
$803,171
$803.2K
Cap Rate 9%
$624,689
$624.7K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$106.3K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$102.2K $44.44/SF
− OpEx
−$46.0K −$20.00/SF
NOI
$56.2K $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%
$1,124,440
Cap Rate 7%
$803,171
Cap Rate 9%
$624,689
Alternative Uses
Best Use
Apartment 5plus
$803.2K
$702.8K – $937.0K
NOI $56,222 @ 7.0% cap · market cap 4.03%
Second Best
Multifamily LT 5
$543.8K
$475.9K – $634.5K
NOI $38,069 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,691 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,415
Businesses Nearby
Explore this area
Business Placement
Demographics for 11101, NY
48,867
Population
27,093
Households
1.8
Avg Household Size
33
Median Age
65%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
18,795
Density / Sq Mi
$116,807
Median Household Income
$83,892
Median Earnings
$2,740
Median Rent
$995,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A separate two-bedroom rental sits above the owner’s duplex in this three-story residential property.
Where is this duplex located?
The property is located at 3722 27th Street Long Island City, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Three‑story, two‑family residential property; Two‑bedroom, one‑bath rental above the owner’s duplex; Renovated with updated electrical, heating and plumbing, plus central AC
