Legal Two-Family
6114 56TH DR Flushing, NY 11378
6114 56TH DR, Flushing, NY, 11378
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For Sale
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Vacant legal two-family home with two separate apartments and an unfinished basement for storage or future improvements.
Property Size1,332 SF
Lot Size0.07 Acres
Price / SF$683.18
Days on Market50
Property Features for 6114 56TH DR
General Information
- Standard status
- Active
- Size
- 1,332 SF
- Lot size
- 0.07 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1930
Listing agency
Capri Jet Realty Corp
(718) 388-2188
Listed by
Robert Napolitano · License #NY 31NA0992911
Source
Crexi
Added: Jun 2 Updated: Jul 10 at 1:49PM Checked: Jul 19 at 8:29AM
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 Capri Jet Realty Corp
Investment Insights
Based on property information with market context.
This is a legal two-family residence delivered vacant and ready for occupancy or renovation. The first floor includes 2 bedrooms and 1 full bathroom, along with a kitchen, wall-to-wall carpeting, a washer, window A/C units, and forced-air heating powered by natural gas. An unfinished basement offers additional storage space and room to expand or update. The second-floor apartment provides a 1-bedroom, 1-bathroom layout, creating a separate living unit within the property.
The property sits on a 2,950 square foot lot. Street parking is available, and the location is described as convenient to major nearby routes, including the Brooklyn-Queens Expressway, as well as Grand Avenue, shopping, restaurants, schools, and public transportation.
For owner-occupants or investors seeking a two-unit setup, the existing configuration supports either living in one unit while using the other as a rental, or operating both units with separate apartment spaces. The unfinished basement and overall good condition allow flexibility for buyers planning updates and customization to match their preferences.
The property sits on a 2,950 square foot lot. Street parking is available, and the location is described as convenient to major nearby routes, including the Brooklyn-Queens Expressway, as well as Grand Avenue, shopping, restaurants, schools, and public transportation.
For owner-occupants or investors seeking a two-unit setup, the existing configuration supports either living in one unit while using the other as a rental, or operating both units with separate apartment spaces. The unfinished basement and overall good condition allow flexibility for buyers planning updates and customization to match their preferences.
Key Highlights
- Legal 2‑family home built in 1930 on a 2,950 SF lot, delivered vacant for immediate occupancy or leasing
- Includes 2 apartments: first floor with 2BR/1BA plus kitchen, washer, window A/C, and forced‑air natural gas heat
- Second‑floor unit features 1BR/1BA, providing potential rental income within the same building
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 | $61.5k | $46.20 |
| − Vacancy | −$2.3k | −$1.76 |
| EGI | $59.2k | $44.44 |
| − OpEx | −$26.6k | −$20.00 |
| NOI | $32.6k | $24.44 |
1,332 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$465.1K
$407.0K – $542.7K
NOI $32,560 @ 7.0% cap · market cap 3.58%
Second Best
Multifamily LT 5
$315.0K
$275.6K – $367.5K
NOI $22,047 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$982.0K
$859.2K – $1.15M
NOI $68,738 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Vacant legal two-family home with two separate apartments and an unfinished basement for storage or future improvements.
Where is this duplex located?
The property is located at 6114 56TH DR Flushing, NY.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: Legal 2‑family home built in 1930 on a 2,950 SF lot, delivered vacant for immediate occupancy or leasing; Includes 2 apartments: first floor with 2BR/1BA plus kitchen, washer, window A/C, and forced‑air natural gas heat; Second‑floor unit features 1BR/1BA, providing potential rental income within the same building
