Three-Unit Triplex with
71-03 Cooper Avenue 3FAM, Queens, NY 11385
For Sale
$1,595,000
All three residences are occupied, and tenants pay their own gas, electricity, and heat.
Property Size3,240 SF
Price / SF$492.28
Days on Market75
Property Features for 71-03 Cooper Avenue 3FAM
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
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:
Dallien
Added: Aug 26
Changed: Nov 7
Last Checked: Nov 7 at 8:13PM
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.
This three-family property was built in 2005 and is fully occupied. The building measures 20 x 54 and contains three residences, each with updated kitchens, bathrooms, efficient lighting, and contemporary interior finishes. Private balconies serve the second- and third-floor units; the first-floor residence has direct backyard access. The basement may offer scope for recreational use or a first-floor duplex configuration, subject to approvals.
The property is being marketed with the adjoining building as a combined offering. Together, the buildings include 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 property is being marketed with the adjoining building as a combined offering. Together, the buildings include 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.
Key Highlights
- Three‑family building constructed in 2005
- 20 x 54 building dimensions
- Fully occupied across all three residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,200
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,584,000
$1.6M
Cap Rate 7%
$1,131,429
$1.1M
Cap Rate 9%
$880,000
$880.0K
Market Conditions
NOI Build-Up for 3,240 SF
Gross rent
$149.7K $46.20/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$144.0K $44.44/SF
− OpEx
−$64.8K −$20.00/SF
NOI
$79.2K $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%
$1,584,000
Cap Rate 7%
$1,131,429
Cap Rate 9%
$880,000
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$990.0K – $1.32M
NOI $79,200 @ 7.0% cap · market cap 4.97%
Second Best
Multifamily LT 5
$766.1K
$670.3K – $893.8K
NOI $53,627 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,200 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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 - All three residences are occupied, and tenants pay their own gas, electricity, and heat.
Where is this triplex located?
The property is located at 71-03 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: Three‑family building constructed in 2005; 20 x 54 building dimensions; Fully occupied across all three residences
