Three-Unit Brick Residential
For Sale
$1,880,000
Pending
42-03 156th Street, Flushing, NY 11355
Three distinct apartments are arranged across the first, second, and third floors, with additional finished basement space.
Property Size2,593 SF
Lot Size0.04 Acres
Days on Market10
Property Features for 42-03 156th Street
General Information
Standard status
Pending
Size
2,593 SF
Total Parking Spaces
2
Lot size
0.04 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR/1BA, 2 x 3BR/2BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$13,314
Amenities
garage access
balcony
front and rear balconies
finished basement
separate entrance
private front yard
Finished,Full
Yes
First Floor Bedroom,First Floor Full Bath
Finished, Full
Public
No
Driveway, Other
2593
Building Details
Building Size
2,593 SF
Year Built
1988
Buildings
1
Stories
3
Construction
brick
Listing Agency:
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 3:36PM
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 Geralda Desir
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Investment Insights
Based on property information with market context.
This legal three-family brick property contains 2,593 square feet of living area on a 19 x 91 ft lot. Built in 1988, it has three separate apartments. The first-floor unit includes one bedroom, one bathroom, a kitchen, and garage access. Each upper-floor apartment offers three bedrooms, two bathrooms, a living room, and a kitchen; the second floor has a balcony, while the third floor has front and rear balconies. A finished basement has its own entrance, and the property also includes a private front yard and 2-car parking.
The property is on 156th Street in Flushing, with shopping, dining, transportation, schools, and daily amenities nearby. It may be delivered vacant.
The property is on 156th Street in Flushing, with shopping, dining, transportation, schools, and daily amenities nearby. It may be delivered vacant.
Key Highlights
- Legal three‑family brick property built in 1988
- 2,593 square feet of living area on a 19 x 91 ft lot
- First‑floor apartment has 1 bedroom, 1 bathroom, kitchen, and garage access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,384
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,267,680
$1.3M
Cap Rate 7%
$905,486
$905.5K
Cap Rate 9%
$704,267
$704.3K
Market Conditions
NOI Build-Up for 2,593 SF
Gross rent
$119.8K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$115.2K $44.44/SF
− OpEx
−$51.9K −$20.00/SF
NOI
$63.4K $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%
$1,267,680
Cap Rate 7%
$905,486
Cap Rate 9%
$704,267
Alternative Uses
Best Use
Apartment 5plus
$905.5K
$792.3K – $1.06M
NOI $63,384 @ 7.0% cap · market cap 3.37%
Second Best
Multifamily LT 5
$613.1K
$536.5K – $715.3K
NOI $42,918 @ 7.0% cap · market cap 2.28%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,811 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,507
Businesses Nearby
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Business Placement
Demographics for 11355, NY
89,465
Population
32,049
Households
2.8
Avg Household Size
44
Median Age
24%
College-Educated
70%
High-School Grad
1.7 sq mi
ZIP Area
52,626
Density / Sq Mi
$53,700
Median Household Income
$31,166
Median Earnings
$1,664
Median Rent
$711,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct apartments are arranged across the first, second, and third floors, with additional finished basement space.
Where is this triplex located?
The property is located at 42-03 156th Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,880,000.
What are key features of this property?
This property features: Legal three‑family brick property built in 1988; 2,593 square feet of living area on a 19 x 91 ft lot; First‑floor apartment has 1 bedroom, 1 bathroom, kitchen, and garage access
