Brick Multifamily with Private
For Sale
Contact for pricing
69-12 31st Ave, Woodside, NY 11377
Well-maintained brick multifamily with two two-bedroom units plus a walk-in accessory unit, garage, and private driveway.
Property Size2,000 SF
Price / SF$690
Days on Market54
Property Features for 69-12 31st Ave
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
3
Building Details
Tenancy
Multi
Listing Agency:
TRADEMARKO REALTY INC.
(347) 927-6829
Listed By:
Peter Nowik · License #10401329596
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 9 at 6:16AM
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 TRADEMARKO REALTY INC.
Investment Insights
Based on property information with market context.
This well-maintained brick multifamily home includes two generously sized two-bedroom, one-bath apartments, along with a walk-in accessory unit featuring its own full bath. The property also offers a spacious private balcony, a large garage, and a private driveway for added everyday convenience. A private backyard provides outdoor space for relaxing or entertaining.
Situated on the border of Woodside and Jackson Heights, the home benefits from convenient transit connections. Commuters have easy access to the 7 train and the LIRR, along with multiple bus lines, including the Q47 and Q49. The property is also described as being minutes from Northern Boulevard and Roosevelt Avenue, with nearby restaurants, markets, and retail.
Configured to serve both owner-occupants and income-focused buyers, the combination of two full apartments and an accessory unit can support flexible living arrangements. The private balcony, backyard, garage, and driveway help round out tenant or household needs, while the documented transit and retail access may be attractive for prospective renters. Please note that some images are described as virtually staged, including items such as repainted walls, garden and backyard upgrades, and new grout in the bathroom.
Situated on the border of Woodside and Jackson Heights, the home benefits from convenient transit connections. Commuters have easy access to the 7 train and the LIRR, along with multiple bus lines, including the Q47 and Q49. The property is also described as being minutes from Northern Boulevard and Roosevelt Avenue, with nearby restaurants, markets, and retail.
Configured to serve both owner-occupants and income-focused buyers, the combination of two full apartments and an accessory unit can support flexible living arrangements. The private balcony, backyard, garage, and driveway help round out tenant or household needs, while the documented transit and retail access may be attractive for prospective renters. Please note that some images are described as virtually staged, including items such as repainted walls, garden and backyard upgrades, and new grout in the bathroom.
Key Highlights
- Well‑maintained brick multifamily with two 2‑bedroom, 1‑bath apartments plus a walk‑in accessory unit with a full bath
- Private balcony and private backyard for outdoor space
- Large garage and private driveway
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
$48,889
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
3.54%
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%
$977,780
$977.8K
Cap Rate 7%
$698,414
$698.4K
Cap Rate 9%
$543,211
$543.2K
Market Conditions
NOI Build-Up for 2,000 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
$92.4K $46.20/SF
− Vacancy
−$3.5K −$1.76/SF
EGI
$88.9K $44.44/SF
− OpEx
−$40.0K −$20.00/SF
NOI
$48.9K $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%
$977,780
Cap Rate 7%
$698,414
Cap Rate 9%
$543,211
Alternative Uses
Best Use
Apartment 5plus
$698.4K
$611.1K – $814.8K
NOI $48,889 @ 7.0% cap · market cap 3.54%
Second Best
Multifamily LT 5
$472.9K
$413.8K – $551.7K
NOI $33,103 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,210 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,437
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
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 - Well-maintained brick multifamily with two two-bedroom units plus a walk-in accessory unit, garage, and private driveway.
Where is this triplex located?
The property is located at 69-12 31st Ave Woodside, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Well‑maintained brick multifamily with two 2‑bedroom, 1‑bath apartments plus a walk‑in accessory unit with a full bath; Private balcony and private backyard for outdoor space; Large garage and private driveway
