Brick Triplex with
New
For Sale
$1,699,999
84-33 120th Street, Kew Gardens, NY 11415
MULTI_FAMILY - Kew Gardens, NY
Property Size3,100 SF
Lot Size0.13 Acres
Price / SF$548.39
Days on Market4
Property Features for 84-33 120th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bedroom 7, Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 4, Bedroom 6, Bathroom 3, Bathroom 5, Bathroom 1, Bedroom 1, Bedroom 4
Subdivision
Jamaica
Standard status
Active
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
13500
Building Details
Floors in Building
3
Listing Agency:
METROPOLITAN BROKERS INC
(718) 200-8222
Listed By:
Daniel Eivazov
Added: Aug 5
Changed: Aug 7
Last Checked: Aug 8 at 8:06PM
MLS# 11920993
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1973 brick triplex contains three residential units arranged as three bedrooms, three bedrooms, and one bedroom, along with a full basement. The existing building measures approximately 3,100 square feet and includes an attached garage, front driveway, an additional side driveway, and a detached three-car garage. One upper-level apartment is occupied, while the other two apartments are vacant. The basement and detached garages are also used for storage tenancy.
The property occupies an approximately 5,600-square-foot lot measuring 30' x 170' in Kew Gardens. R6B zoning permits a maximum buildable area of approximately 10,464 square feet, compared with the current building size. Any expansion or redevelopment should be evaluated with an architect and the NYC Department of Buildings. The property is located at 84-33 120th Street, Kew Gardens, NY 11415.
The property occupies an approximately 5,600-square-foot lot measuring 30' x 170' in Kew Gardens. R6B zoning permits a maximum buildable area of approximately 10,464 square feet, compared with the current building size. Any expansion or redevelopment should be evaluated with an architect and the NYC Department of Buildings. The property is located at 84-33 120th Street, Kew Gardens, NY 11415.
Key Highlights
- Legal 3‑family brick building constructed in 1973
- Approx. 5,600 sq. ft. lot measuring 30' x 170'
- Approx. 3,100 sq. ft. existing building with full basement
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
$75,778
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
4.46%
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%
$1,515,560
$1.5M
Cap Rate 7%
$1,082,543
$1.1M
Cap Rate 9%
$841,978
$842.0K
Market Conditions
NOI Build-Up for 3,100 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
$143.2K $46.20/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$137.8K $44.44/SF
− OpEx
−$62.0K −$20.00/SF
NOI
$75.8K $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%
$1,515,560
Cap Rate 7%
$1,082,543
Cap Rate 9%
$841,978
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$947.2K – $1.26M
NOI $75,778 @ 7.0% cap · market cap 4.46%
Second Best
Multifamily LT 5
$733.0K
$641.4K – $855.2K
NOI $51,310 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $159,975 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,897
Businesses Nearby
Explore this area
Business Placement
Demographics for 11415, NY
20,241
Population
9,794
Households
2.1
Avg Household Size
41
Median Age
53%
College-Educated
89%
High-School Grad
0.6 sq mi
ZIP Area
33,735
Density / Sq Mi
$88,632
Median Household Income
$60,950
Median Earnings
$1,909
Median Rent
$367,900
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 - Legal three-family residence with a full basement and extensive off-street parking.
Where is this triplex located?
The property is located at 84-33 120th Street Kew Gardens, NY.
What is the asking price?
The asking price for this property is $1,699,999.
What are key features of this property?
This property features: Legal 3‑family brick building constructed in 1973; Approx. 5,600 sq. ft. lot measuring 30' x 170'; Approx. 3,100 sq. ft. existing building with full basement
