Woodside Three-Family Residence Investment
53-31 WOODSIDE Ave, Queens, NY 11377
Three-unit property in Woodside, NY, near transportation and park.
Type:Multi Family
Property size:
3,900 SFLot size:
0.06 AcresPrice / SF:
$333/SF- Added:
- Mar 11, 2026
- Days on Market:
- 118
- Last Refresh:
- Jul 2 at 4:02 pm
Property Features for 53-31 WOODSIDE Ave
General Information
- Standard status
- Active
- Size
- 3,900 SF
- Lot size
- 0.06 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1925
Listing office (718) 644-9848
Listing date Mar 11, 2026
Source Elliman
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 Alex Giannikas
HighLights
- Three‑family residence with 3,900 sq ft of living space, ideal for investors or owner‑occupiers seeking rental income.
- Strong rental income potential with three distinct units currently rented for a total of $8,600 per month.
- Prime location directly across from Lawrence Virgilio Park, offering a tranquil urban setting.
- Excellent commuter access to the 52nd Street 7 Line and 61st Street LIRR stations.
- Recent capital improvements including a new water meter, chimney linings, garage roof, PTAC unit, boiler return line, flooring, and basement windows.
- Garage with two parking spaces that are currently rented.
Overview
Located at 53-31 Woodside Avenue in Woodside, NY, this three-family residence offers 3,900 square feet of living space. The property includes three units: a two-bedroom, one-bathroom apartment on the first floor; a three-bedroom, one-bathroom apartment on the second floor; and a one-bedroom, one-bathroom apartment above the garage. The first and second floor apartments are rented at $3,000 per month, and the apartment above the garage is rented at $2,200 per month. The garage has two parking spaces and is rented at $400 per month. The owner is responsible for gas and water, while tenants pay for their own electricity; Unit 2R is fully electric. The property is situated across from Lawrence Virgilio Park and is near the 52nd Street Station on the 7 Line and the 61st Street Station for the LIRR. Recent capital improvements include a new water meter, two chimney linings, a new roof over the garage, and a PTAC unit in Unit 2R. Compliance with Local Law 31 has been completed, and the garage building has been fully waterproofed. Additional upgrades include a full replacement of the boiler's return line, new flooring in the entryway and first-floor common area, and new windows throughout the basement. This property is suitable for investors seeking a rental property or homeowners looking for a live-in plus income arrangement.
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 | $180.2k | $46.20 |
| − Vacancy | −$6.8k | −$1.76 |
| EGI | $173.3k | $44.44 |
| − OpEx | −$78.0k | −$20.00 |
| NOI | $95.3k | $24.44 |
3,900 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,333 @ 7.0% cap · market cap 7.34%
Second Best
Multifamily LT 5
$922.2K
$806.9K – $1.08M
NOI $64,551 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$2.88M
$2.52M – $3.35M
NOI $201,259 @ 7.0% cap · market cap 15.49%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.9107
- Latitude
- 40.7523
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Three-unit property in Woodside, NY, near transportation and park.
Where is this multifamily property located?
The property is located at 53-31 WOODSIDE Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three‑family residence with 3,900 sq ft of living space, ideal for investors or owner‑occupiers seeking rental income.; Strong rental income potential with three distinct units currently rented for a total of $8,600 per month.; Prime location directly across from Lawrence Virgilio Park, offering a tranquil urban setting.
