Renovated Triplex with Finished
For Sale
$1,575,000
6089 54th Street, Maspeth, NY 11378
Legal three-family attached property with updated living space, separate utilities, and commuter access to Manhattan.
Property Size2,434 SF
Days on Market63
Property Features for 6089 54th Street
General Information
Standard status
Active
Size
2,434 SF
Property subtype
Triplex
Units
Unit Mix
1 x 3BR/1.5BA, 2 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,332
Building Details
Building Size
2,434 SF
Year Built
1920
Buildings
1
Listing Agency:
Exit Realty Prime
(347) 571-3065
Listed By:
Saif Ahmed
Source:
Serhant
Added: Jun 9
Changed: Aug 10
Last Checked: Aug 10 at 6:25AM
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 Exit Realty Prime
Investment Insights
Based on property information with market context.
This legal three-family attached property includes a renovated first-floor residence with 3 bedrooms, a home office, 1.5 bathrooms, and a kitchen equipped with stainless steel appliances. The first-floor unit also has private entry to a fenced backyard with a patio. Two 2-bedroom apartments occupy the second floor, each with separate utilities; one is currently vacant. A finished basement completed in 2021 adds two rooms, laundry equipment, ductless climate control, a private entrance, and two exits.
Additional improvements include owned solar panels, air humidifiers serving all units, multiple exits, and NewTechWood composite siding on the exterior. Constructed in 1920, the property is near public transportation with access to Manhattan. The asset is offered as-is and is located at 6089 54th Street in Maspeth, NY 11378.
Additional improvements include owned solar panels, air humidifiers serving all units, multiple exits, and NewTechWood composite siding on the exterior. Constructed in 1920, the property is near public transportation with access to Manhattan. The asset is offered as-is and is located at 6089 54th Street in Maspeth, NY 11378.
Key Highlights
- Legal 3‑family attached property
- First‑floor unit renovated in Summer 2024 with 3 bedrooms, a home office, 1.5 bathrooms, and stainless steel appliances
- Two second‑floor 2‑bedroom apartments with separate utilities; one unit is currently vacant
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
$59,498
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
3.78%
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%
$1,189,960
$1.2M
Cap Rate 7%
$849,971
$850.0K
Cap Rate 9%
$661,089
$661.1K
Market Conditions
NOI Build-Up for 2,434 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
$112.5K $46.20/SF
− Vacancy
−$4.3K −$1.76/SF
EGI
$108.2K $44.44/SF
− OpEx
−$48.7K −$20.00/SF
NOI
$59.5K $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 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%
$1,189,960
Cap Rate 7%
$849,971
Cap Rate 9%
$661,089
Alternative Uses
Best Use
Apartment 5plus
$850.0K
$743.7K – $991.6K
NOI $59,498 @ 7.0% cap · market cap 3.78%
Second Best
Multifamily LT 5
$575.5K
$503.6K – $671.5K
NOI $40,287 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,606 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Legal three-family attached property with updated living space, separate utilities, and commuter access to Manhattan.
Where is this triplex located?
The property is located at 6089 54th Street Maspeth, NY.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Legal 3‑family attached property; First‑floor unit renovated in Summer 2024 with 3 bedrooms, a home office, 1.5 bathrooms, and stainless steel appliances; Two second‑floor 2‑bedroom apartments with separate utilities; one unit is currently vacant
