Renovated Triplex with Walkout
57-04 Van Horn Street, Elmhurst, NY 11373
For Sale
$1,995,000
Three vacant apartments are served by four heating zones and include a two-car garage.
Property Size2,600 SF
Price / SF$767.31
Days on Market21
Property Features for 57-04 Van Horn Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
front and rear balconies
First Floor Bedroom
First Floor Full Bath
Building Details
Building Size
Year Built
Buildings
Units
Construction
Listing Agency:
RE/MAX Team
(718) 429-4400
Listed By:
Victor Weinberger · License #40WE0641759
(917) 806-7040
Source:
Clairedleone
Added: Oct 18
Changed: Nov 7
Last Checked: Nov 7 at 9:12AM
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 RE/MAX Team
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Investment Insights
Based on property information with market context.
This renovated brick triplex contains three apartments and is being delivered vacant. The third- and second-floor units each offer 1,000 square feet, three bedrooms and two full bathrooms; the first-floor apartment has 500 square feet and one bedroom. A finished 800-square-foot walkout basement with high ceilings adds further interior space. The property was built in 1998 and includes front and rear balconies, a two-car garage, four boilers and water tanks, and four-zone heating.
The property is 1,000 feet from Queens Boulevard and Queens Mall. Subway service, schools and shopping are within walking distance.
The property is 1,000 feet from Queens Boulevard and Queens Mall. Subway service, schools and shopping are within walking distance.
Key Highlights
- Three apartments delivered vacant
- Two upper‑floor units, each with 1,000 SF, 3 bedrooms and 2 full baths
- First‑floor apartment offers 500 SF and 1 bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,555
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,271,100
$1.3M
Cap Rate 7%
$907,929
$907.9K
Cap Rate 9%
$706,167
$706.2K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$120.1K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$115.6K $44.44/SF
− OpEx
−$52.0K −$20.00/SF
NOI
$63.6K $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%
$1,271,100
Cap Rate 7%
$907,929
Cap Rate 9%
$706,167
Alternative Uses
Best Use
Apartment 5plus
$907.9K
$794.4K – $1.06M
NOI $63,555 @ 7.0% cap · market cap 3.19%
Second Best
Multifamily LT 5
$614.8K
$537.9K – $717.2K
NOI $43,034 @ 7.0% cap · market cap 2.16%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,172 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,060
Businesses Nearby
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Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
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Market
Properties on Market for Triplexes in Elmhurst
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three vacant apartments are served by four heating zones and include a two-car garage.
Where is this triplex located?
The property is located at 57-04 Van Horn Street Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Three apartments delivered vacant; Two upper‑floor units, each with 1,000 SF, 3 bedrooms and 2 full baths; First‑floor apartment offers 500 SF and 1 bedroom
