Brick Triplex with
New
For Sale
$1,148,000
Pending
68-40 78th Street, Middle Village, NY 11379
Two residences are scheduled for delivery vacant at closing, with a third currently occupied.
Property Size2,240 SF
Days on Market4
Property Features for 68-40 78th Street
General Information
Standard status
Pending
Size
2,240 SF
Total Parking Spaces
1
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,564
Amenities
full finished basement
private yard
Finished,Full
3
No
Yes
4
First Floor Bedroom,First Floor Full Bath,Eat-in Kitchen,Formal Dining
Finished, Full
Public
1
Garage
2240
Building Details
Building Size
2,240 SF
Year Built
1930
Buildings
1
Construction
semi-detached brick
Tenancy
Single
Listing Agency:
(516) 703-2918
Listed By:
Louis LaDonna
Source:
Hedgestonehomes
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 5:09PM
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 Louis LaDonna
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Investment Insights
Based on property information with market context.
This 2,240-square-foot, semi-detached brick triplex was built in 1930 and includes three residences. The first-floor apartment has an eat-in kitchen, living room, dining room, two bedrooms, and one full bath. A second unit offers a kitchen, living room, one bedroom, and one bath; both are expected to be vacant at closing. The third apartment has a kitchen, living room, one bedroom, and one bath, and is tenant-occupied. The property also has a finished basement, gas heat, a private yard, and a one-car garage.
The property is in Middle Village, near shopping, transportation, and neighborhood amenities.
The property is in Middle Village, near shopping, transportation, and neighborhood amenities.
Key Highlights
- Three brick residences in a semi‑detached building
- 2,240 square feet; built in 1930
- Two units expected to be vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,756
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,095,120
$1.1M
Cap Rate 7%
$782,229
$782.2K
Cap Rate 9%
$608,400
$608.4K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$103.5K $46.20/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$99.6K $44.44/SF
− OpEx
−$44.8K −$20.00/SF
NOI
$54.8K $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%
$1,095,120
Cap Rate 7%
$782,229
Cap Rate 9%
$608,400
Alternative Uses
Best Use
Apartment 5plus
$782.2K
$684.5K – $912.6K
NOI $54,756 @ 7.0% cap · market cap 4.77%
Second Best
Multifamily LT 5
$529.7K
$463.5K – $617.9K
NOI $37,076 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.65M
$1.44M – $1.93M
NOI $115,595 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
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Business Placement
Demographics for 11379, NY
37,906
Population
15,237
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
84%
High-School Grad
2.2 sq mi
ZIP Area
17,230
Density / Sq Mi
$92,509
Median Household Income
$54,109
Median Earnings
$1,989
Median Rent
$886,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Two residences are scheduled for delivery vacant at closing, with a third currently occupied.
Where is this triplex located?
The property is located at 68-40 78th Street Middle Village, NY.
What is the asking price?
The asking price for this property is $1,148,000.
What are key features of this property?
This property features: Three brick residences in a semi‑detached building; 2,240 square feet; built in 1930; Two units expected to be vacant at closing
