Sunnyside Three-Family Home for
For Sale
$1,450,000
Pending
5024 39th Pl, Queens, NY 11104
Well-maintained three-family home near transportation and amenities.
Property Size2,250 SF
Lot Size0.06 Acres
Days on Market267
Property Features for 5024 39th Pl
General Information
Standard status
Pending
Size
2,250 SF
Lot size
0.06 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$9,238
Building Details
Building Size
2,250 SF
Year Built
1925
Units
3
Listing Agency:
(347) 525-1799
Listed By:
Julian D. Armas
(347) 525-1799
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 18
Last Checked: Aug 21 at 7:32AM
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 Julian D. Armas
Investment Insights
Based on property information with market context.
Located in Sunnyside, Long Island City, this well-maintained three-family home is positioned near shopping, dining, and the train station. Subway and bus lines provide access to Manhattan in approximately 10 to 15 minutes. Each unit features modern finishes and natural light. This property is suitable for investors or end-users seeking rental income.
Key Highlights
- Prime location in Sunnyside/Long Island City, a highly desirable neighborhood.
- Convenient access to Manhattan (10‑15 minutes by subway or bus).
- Strong rental income potential for investors.
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
$55,000
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
3.79%
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%
$1,100,000
$1.1M
Cap Rate 7%
$785,714
$785.7K
Cap Rate 9%
$611,111
$611.1K
Market Conditions
NOI Build-Up for 2,250 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
$104.0K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$100.0K $44.44/SF
− OpEx
−$45.0K −$20.00/SF
NOI
$55.0K $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%
$1,100,000
Cap Rate 7%
$785,714
Cap Rate 9%
$611,111
Alternative Uses
Best Use
Apartment 5plus
$785.7K
$687.5K – $916.7K
NOI $55,000 @ 7.0% cap · market cap 3.79%
Second Best
Multifamily LT 5
$532.0K
$465.5K – $620.7K
NOI $37,241 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,111 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,285
Businesses Nearby
Explore this area
Business Placement
Demographics for 11104, NY
27,407
Population
13,224
Households
2.1
Avg Household Size
39
Median Age
51%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
68,518
Density / Sq Mi
$84,716
Median Household Income
$60,346
Median Earnings
$1,924
Median Rent
$665,700
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 - Well-maintained three-family home near transportation and amenities.
Where is this triplex located?
The property is located at 5024 39th Pl Queens, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Prime location in Sunnyside/Long Island City, a highly desirable neighborhood.; Convenient access to Manhattan (10‑15 minutes by subway or bus).; Strong rental income potential for investors.
