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Building Details

Building Size 2,704 SF

Year Built 1970

Buildings 1

Stories 3

Construction all-brick

Listing Agency: Edna Mashaal Realty LLC

Listed By: Edna Mashaal Show Phone

Source: Luxuryhomeny

Added: Oct 13 Changed: Oct 15 Last Checked: Oct 15 at 2:09AM

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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 Edna Mashaal Realty LLC

Investment Insights

Based on property information with market context.

This legal two-family brick residence contains 2,704 square feet across three stories and was built in 1970. Renovated kitchens and full bathrooms serve the second and third levels, each of which also has a living and dining room. A first-level guest room opens to the backyard through sliding glass doors.

Parking includes a one-car garage and one additional outdoor space. The property is located at 83-53 264th Street in Glen Oaks, New York.

Key Highlights

• Legal two‑family brick residence
• 2,704 square feet across three stories
• Renovated kitchens on the second and third levels

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$66,098

Cap Rate

5.51%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,321,960 $1.3M

Cap Rate 7%

$944,257 $944.3K

Cap Rate 9%

$734,422 $734.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,704 SF

Gross rent

$124.9K $46.20/SF

− Vacancy

−$4.7K −$1.76/SF

EGI

$120.2K $44.44/SF

− OpEx

−$54.1K −$20.00/SF

NOI

$66.1K $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%

$1,321,960

Cap Rate 7%

$944,257

Cap Rate 9%

$734,422

Alternative Uses

Best Use

Apartment 5plus

$944.3K

$826.2K – $1.10M (±1% cap)

NOI $66,098 @ 7.0% cap · market cap 5.51%

Second Best

Multifamily LT 5

$639.4K

$559.5K – $745.9K (±1% cap)

NOI $44,756 @ 7.0% cap · market cap 3.73%

Theoretical Best

Office A

$1.99M

$1.74M – $2.33M (±1% cap)

NOI $139,539 @ 7.0% cap · market cap 11.63%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Catering Service Nursing Home Garden Center Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

2,936

Businesses Nearby

Explore this area Business Placement

Demographics for 11004, NY

13,608

Population

5,394

Households

2.5

Avg Household Size

48

Median Age

44%

College-Educated

85%

High-School Grad

1.0 sq mi

ZIP Area

13,608

Density / Sq Mi

$109,865

Median Household Income

$59,505

Median Earnings

$1,967

Median Rent

$661,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Renovated kitchens and a private backyard complement a three-level residential layout.

Where is this duplex located?

The property is located at 83-53 264th Street Glen Oaks, NY.

What is the asking price?

The asking price for this property is $1,200,000.

What are key features of this property?

This property features: Legal two‑family brick residence; 2,704 square feet across three stories; Renovated kitchens on the second and third levels