Two-Family Duplex with Additional
New
For Sale
$1,388,000
82-92 88th Place, Glendale, NY 11385
Two adjoining parcels accompany a multi-level residence with a private driveway, garage, and flexible apartment layouts.
Property Size2,660 SF
Lot Size0.17 Acres
Days on Market4
Property Features for 82-92 88th Place
General Information
Standard status
Active
Size
2,660 SF
Lot size
0.17 Acres
Property subtype
Duplex
Additional Details
Land Use
residential
Taxes and HOA fees
Annual Taxes
$11,656
Amenities
recreation room
laundry area
driveway
garage
Building Details
Building Size
2,660 SF
Year Built
1920
Buildings
1
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Source:
Serhant
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 3:06PM
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 Mitra Hakimi Realty Group LLC
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Investment Insights
Based on property information with market context.
This two-family duplex occupies two adjoining parcels sold together, with a combined lot area of 7,244 square feet. The first-floor apartment has three bedrooms, a living and dining area, a kitchen, and a full bathroom. The upper apartment spans the second and third floors, with two bedrooms, living and dining rooms, and a full bathroom on the second floor; the third floor adds a bedroom, two storage rooms, and a half bathroom. A basement recreation room, laundry area, and half bathroom provide additional interior space. A private driveway and garage are also included.
Shops and restaurants along Myrtle Avenue and Forest Park’s trails, playgrounds, and sports facilities are nearby. The Q55 and Q29 bus routes are within walking distance. The property was built in 1920.
Shops and restaurants along Myrtle Avenue and Forest Park’s trails, playgrounds, and sports facilities are nearby. The Q55 and Q29 bus routes are within walking distance. The property was built in 1920.
Key Highlights
- Two adjoining parcels sold together, with a combined lot area of 7,244 square feet
- First‑floor apartment includes three bedrooms and a full bathroom
- Upper apartment spans two floors, with three bedrooms, two storage rooms, and a half bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,022
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,300,440
$1.3M
Cap Rate 7%
$928,886
$928.9K
Cap Rate 9%
$722,467
$722.5K
Market Conditions
NOI Build-Up for 2,660 SF
Gross rent
$122.9K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$118.2K $44.44/SF
− OpEx
−$53.2K −$20.00/SF
NOI
$65.0K $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%
$1,300,440
Cap Rate 7%
$928,886
Cap Rate 9%
$722,467
Alternative Uses
Best Use
Apartment 5plus
$928.9K
$812.8K – $1.08M
NOI $65,022 @ 7.0% cap · market cap 4.68%
Second Best
Multifamily LT 5
$629.0K
$550.3K – $733.8K
NOI $44,027 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,269 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,489
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two adjoining parcels accompany a multi-level residence with a private driveway, garage, and flexible apartment layouts.
Where is this duplex located?
The property is located at 82-92 88th Place Glendale, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: Two adjoining parcels sold together, with a combined lot area of 7,244 square feet; First‑floor apartment includes three bedrooms and a full bathroom; Upper apartment spans two floors, with three bedrooms, two storage rooms, and a half bathroom
