Brick Two-Family Home with
48-22 Oceania Street Queens, NY 11364
New
48-22 Oceania Street, Queens, NY, 11364
$1,649,000
For Sale
$1,649,000
MULTI_FAMILY - Queens, NY
Property Size2,050 SF
Lot Size0.14 Acres
Price / SF$804.39
Days on Market2
Property Features for 48-22 Oceania Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2
- Patio and Porch features
- Patio
- Pets allowed
- Call
- Standard status
- Active
- Size
- 2,050 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Annual Amount
- 700
Listing Agency
R New York
(212) 688-1000
641 Lexington Ave , Ste 2202, New York, NY
Listed by
Stefani Berkin
(212) 688-1000
Added: Jul 16 Checked: Jul 17 at 3:06 pm
MLS# 1027472
Listing URL
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained brick two-family home sits on a larger-than-usual 60 x 100 ft lot and offers a total of 2,073 sq ft above grade, plus a finished basement. The ground floor features two bedrooms and comfortable living areas. The upper apartment has its own separate entrance and includes one bedroom. The finished basement also has a separate entrance, providing additional living space with bedroom potential.
The home includes three full bathrooms and hardwood floors throughout. Parking and access are supported by a detached two-car garage and a private driveway, along with a spacious, sunny backyard.
Per the provided details, the property is zoned R2A and includes stated room to expand by 900+ sq ft (to be confirmed with an architect).
The home includes three full bathrooms and hardwood floors throughout. Parking and access are supported by a detached two-car garage and a private driveway, along with a spacious, sunny backyard.
Per the provided details, the property is zoned R2A and includes stated room to expand by 900+ sq ft (to be confirmed with an architect).
Key Highlights
- Brick two‑family home on a 60 x 100 ft (6,000 sq ft) lot with patio and spacious backyard
- Zoned R2A and offers 2,073 sq ft above grade plus a finished basement
- Layout includes two ground‑floor bedrooms and an upper apartment with separate entrance and 1 bedroom
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.7k | $46.20 |
| − Vacancy | −$3.6k | −$1.76 |
| EGI | $91.1k | $44.44 |
| − OpEx | −$41.0k | −$20.00 |
| NOI | $50.1k | $24.44 |
2,050 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$715.9K
$626.4K – $835.2K
NOI $50,111 @ 7.0% cap · market cap 3.04%
Second Best
Multifamily LT 5
$484.7K
$424.1K – $565.5K
NOI $33,931 @ 7.0% cap · market cap 2.06%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,790 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained brick two-family residence on a 60-by-100 lot with detached two-car garage and separate entrances.
Where is this duplex located?
The property is located at 48-22 Oceania Street Queens, NY.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: Brick two‑family home on a 60 x 100 ft (6,000 sq ft) lot with patio and spacious backyard; Zoned R2A and offers 2,073 sq ft above grade plus a finished basement; Layout includes two ground‑floor bedrooms and an upper apartment with separate entrance and 1 bedroom
