Three-Unit Triplex with Solar
For Sale
$1,649,000
7714 Cypress Hills Street, Glendale, NY 11385
Three-story configuration includes one one-bedroom residence and two two-bedroom residences, each with a living room, kitchen, and full bathroom.
Property Size3,168 SF
Days on Market204
Property Features for 7714 Cypress Hills Street
General Information
Standard status
Active
Size
3,168 SF
Property subtype
Triplex
Units
Unit Mix
1 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,503
Amenities
solar panels
Building Details
Building Size
3,168 SF
Year Built
1970
Buildings
1
Stories
3
Listing Agency:
Coldwell Banker Kueber Realty
(347) 806-8407
Listed By:
Daniela Cazan
Source:
Serhant
Added: Feb 1
Changed: Aug 23
Last Checked: Aug 24 at 12:51PM
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 Coldwell Banker Kueber Realty
Investment Insights
Based on property information with market context.
This three-family property contains one residence on each of its three floors. The first-floor unit has one bedroom, a living room, a full bathroom, and an eat-in kitchen. Two-bedroom residences occupy the second and third floors, each offering a living room, eat-in kitchen, dining area, and full bathroom.
Built in 1970, the property is equipped with solar panels. The address is near shopping, fine dining, and transportation in Glendale, New York. The three-unit layout provides distinct residential spaces within a single multifamily asset.
Built in 1970, the property is equipped with solar panels. The address is near shopping, fine dining, and transportation in Glendale, New York. The three-unit layout provides distinct residential spaces within a single multifamily asset.
Key Highlights
- Three‑family property arranged across three floors
- Unit mix includes one one‑bedroom residence and two two‑bedroom residences
- Each residence includes a living room, kitchen, and full bathroom
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
$77,440
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
4.70%
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%
$1,548,800
$1.5M
Cap Rate 7%
$1,106,286
$1.1M
Cap Rate 9%
$860,444
$860.4K
Market Conditions
NOI Build-Up for 3,168 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
$146.4K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$140.8K $44.44/SF
− OpEx
−$63.4K −$20.00/SF
NOI
$77.4K $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%
$1,548,800
Cap Rate 7%
$1,106,286
Cap Rate 9%
$860,444
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$968.0K – $1.29M
NOI $77,440 @ 7.0% cap · market cap 4.70%
Second Best
Multifamily LT 5
$749.1K
$655.5K – $873.9K
NOI $52,436 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$2.34M
$2.04M – $2.72M
NOI $163,484 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,045
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-story configuration includes one one-bedroom residence and two two-bedroom residences, each with a living room, kitchen, and full bathroom.
Where is this triplex located?
The property is located at 7714 Cypress Hills Street Glendale, NY.
What is the asking price?
The asking price for this property is $1,649,000.
What are key features of this property?
This property features: Three‑family property arranged across three floors; Unit mix includes one one‑bedroom residence and two two‑bedroom residences; Each residence includes a living room, kitchen, and full bathroom
