Two-Family Condominium
57-24062 68th Ave, Little Neck, NY 11385
For Sale
$1,200,000
A finished basement accessory apartment adds a separate living space to this condominium property.
Property Size2,310 SF
Price / SF$519.48
Days on Market8
Property Features for 57-24062 68th Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
HOA Fee
Utilities to Site
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Listing Agency:
Expert Homes NY
(516) 637-9472
Listed By:
Benjamin Yousefzadeh · License #10311202833
(212) 257-2119
Source:
Exprealty
Added: Nov 2
Changed: Nov 8
Last Checked: Nov 8 at 3:12PM
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 Expert Homes NY
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Investment Insights
Based on property information with market context.
This condominium is described as a legal two-family residence, with an accessory apartment in the fully finished basement. The basement unit has two private entrances. The property also includes a private backyard, hardwood floors, a one-car garage, and a private driveway with space for two cars. Separate utility service includes three electric meters and two gas meters.
The home is in Little Neck, near Little Neck Bay, Little Neck Plaza, Douglaston Golf Course, parks, shopping, schools, and transportation. It is within School District 26, near P.S. 221, JHS 67, and Cardozo High School.
The home is in Little Neck, near Little Neck Bay, Little Neck Plaza, Douglaston Golf Course, parks, shopping, schools, and transportation. It is within School District 26, near P.S. 221, JHS 67, and Cardozo High School.
Key Highlights
- Legal two‑family condominium with a finished basement accessory apartment
- Basement apartment has 2 private entrances
- 1‑car garage and private driveway with space for 2 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,467
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,129,340
$1.1M
Cap Rate 7%
$806,671
$806.7K
Cap Rate 9%
$627,411
$627.4K
Market Conditions
NOI Build-Up for 2,310 SF
Gross rent
$106.7K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$102.7K $44.44/SF
− OpEx
−$46.2K −$20.00/SF
NOI
$56.5K $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%
$1,129,340
Cap Rate 7%
$806,671
Cap Rate 9%
$627,411
Alternative Uses
Best Use
Apartment 5plus
$806.7K
$705.8K – $941.1K
NOI $56,467 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,207 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,524
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Queens County, NY
Properties on Market for Residential income properties in Queens County
Frequently Asked Questions
What type of property is this?
Residential income property - A finished basement accessory apartment adds a separate living space to this condominium property.
Where is this residential income property located?
The property is located at 57-24062 68th Ave Little Neck, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Legal two‑family condominium with a finished basement accessory apartment; Basement apartment has 2 private entrances; 1‑car garage and private driveway with space for 2 cars
