Occupied Three-Family
71-01 Cooper Avenue 3FAM, Queens, NY 11385
For Sale
$1,595,000
Upper-floor residences have private balconies, while the ground-floor unit opens directly to the backyard.
Property Size3,507 SF
Price / SF$454.80
Days on Market254
Property Features for 71-01 Cooper Avenue 3FAM
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
private balconies
backyard
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Compass
Listed By:
Dorian Nasto
(347) 255-7677
Source:
Irynaferenets
Added: Feb 27
Changed: Nov 6
Last Checked: Nov 6 at 8:50PM
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 Compass
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Investment Insights
Based on property information with market context.
Built in 2005, this three-family property is fully occupied. The second- and third-floor units have private balconies; the first-floor residence has direct backyard access. Kitchens and bathrooms have been renovated, and the interiors feature updated lighting and modern finishes.
The offering is packaged with the adjacent building. Across the package are four parking spaces, a two-car garage, additional outdoor parking, and backyard space. Tenants pay for gas, electricity, and heat, while the owner covers property taxes, water, and insurance.
The basement may offer potential for recreational use or a first-floor duplex configuration, subject to approvals.
The offering is packaged with the adjacent building. Across the package are four parking spaces, a two-car garage, additional outdoor parking, and backyard space. Tenants pay for gas, electricity, and heat, while the owner covers property taxes, water, and insurance.
The basement may offer potential for recreational use or a first-floor duplex configuration, subject to approvals.
Key Highlights
- Fully occupied three‑family property built in 2005
- Private balconies serve the second- and third‑floor residences
- First‑floor unit has direct access to the backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,727
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,714,540
$1.7M
Cap Rate 7%
$1,224,671
$1.2M
Cap Rate 9%
$952,522
$952.5K
Market Conditions
NOI Build-Up for 3,507 SF
Gross rent
$162.0K $46.20/SF
− Vacancy
−$6.2K −$1.76/SF
EGI
$155.9K $44.44/SF
− OpEx
−$70.1K −$20.00/SF
NOI
$85.7K $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%
$1,714,540
Cap Rate 7%
$1,224,671
Cap Rate 9%
$952,522
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,727 @ 7.0% cap · market cap 5.37%
Second Best
Multifamily LT 5
$829.2K
$725.6K – $967.5K
NOI $58,047 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$2.59M
$2.26M – $3.02M
NOI $180,978 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,275
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 Triplexes in Queens, NY
Properties on Market for Triplexes in Queens
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Upper-floor residences have private balconies, while the ground-floor unit opens directly to the backyard.
Where is this triplex located?
The property is located at 71-01 Cooper Avenue 3FAM Queens, NY.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Fully occupied three‑family property built in 2005; Private balconies serve the second- and third‑floor residences; First‑floor unit has direct access to the backyard
