Three-Unit Brick
51-03 97th St, Queens, NY 11368
For Sale
$1,849,000
The three apartments include a walk-in one-bedroom residence and upper-level homes with balconies.
Property Size3,585 SF
Days on Market17
Property Features for 51-03 97th St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
balconies
on-site laundry
patio
Building Details
Building Size
Year Built
Units
Construction
Listing Agency:
DGSIR Realty
Listed By:
Irene Nictas
(718) 762-2268
Source:
Elliman
Added: Oct 23
Changed: Nov 7
Last Checked: Nov 7 at 3:07PM
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 DGSIR Realty
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Investment Insights
Based on property information with market context.
Built in 1970, this attached brick property is configured as a legal three-family home. Its walk-in apartment has one bedroom and access to a backyard with a paved patio. The second-floor residence offers three bedrooms and two full bathrooms, while the third-floor apartment has three bedrooms, one full bath, one half bath, and balconies. The second-floor unit has been renovated with modern finishes.
Additional features include two laundry areas, a granite entry, and a heated stone exterior entry and driveway. WalkScore is 92, TransitScore is 100, and BikeScore is 78.
Additional features include two laundry areas, a granite entry, and a heated stone exterior entry and driveway. WalkScore is 92, TransitScore is 100, and BikeScore is 78.
Key Highlights
- Legal three‑family attached brick property
- Unit mix: one‑bedroom walk‑in apartment, three‑bedroom/two‑bath second‑floor unit, and three‑bedroom/1.5‑bath third‑floor unit
- Renovated second‑floor apartment with modern finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,633
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,752,660
$1.8M
Cap Rate 7%
$1,251,900
$1.3M
Cap Rate 9%
$973,700
$973.7K
Market Conditions
NOI Build-Up for 3,585 SF
Gross rent
$165.6K $46.20/SF
− Vacancy
−$6.3K −$1.76/SF
EGI
$159.3K $44.44/SF
− OpEx
−$71.7K −$20.00/SF
NOI
$87.6K $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%
$1,752,660
Cap Rate 7%
$1,251,900
Cap Rate 9%
$973,700
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,633 @ 7.0% cap · market cap 4.74%
Second Best
Multifamily LT 5
$847.7K
$741.7K – $989.0K
NOI $59,338 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $185,003 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Queens, NY
Properties on Market for Triplexes in Queens
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The three apartments include a walk-in one-bedroom residence and upper-level homes with balconies.
Where is this triplex located?
The property is located at 51-03 97th St Queens, NY.
What is the asking price?
The asking price for this property is $1,849,000.
What are key features of this property?
This property features: Legal three‑family attached brick property; Unit mix: one‑bedroom walk‑in apartment, three‑bedroom/two‑bath second‑floor unit, and three‑bedroom/1.5‑bath third‑floor unit; Renovated second‑floor apartment with modern finishes
