Renovated 3-Unit Victorian
New
For Sale
$1,595,000
8421 88th Street, Woodhaven, NY 11421
Each apartment is occupied, and residents pay their own electric, gas, and heat.
Property Size3,000 SF
Price / SF$531.67
Days on Market3
Property Features for 8421 88th Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$7,850
Amenities
shared backyard
First Floor Bedroom
Building Details
Building Size
3,000 SF
Year Built
1920
Buildings
1
Units
3
Construction
Victorian
Listing Agency:
Exit Realty First Choice
Listed By:
Solomon Davydov
(917) 733-2034
Source:
Georgemcknight
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 27 at 4:17AM
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 Exit Realty First Choice
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Investment Insights
Based on property information with market context.
Built in 1920, this detached, 3,000-square-foot Victorian-style property contains three renovated apartments, all currently occupied. Residents cover their own electric, gas, and heat. The property also includes a shared backyard on an oversized lot.
The home is in Woodhaven, Queens, near transportation, shopping, parks, and schools.
The home is in Woodhaven, Queens, near transportation, shopping, parks, and schools.
Key Highlights
- Three renovated apartments, all occupied
- Detached Victorian‑style property built in 1920
- 3,000 square feet on an oversized lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,333
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,660
$1.5M
Cap Rate 7%
$1,047,614
$1.0M
Cap Rate 9%
$814,811
$814.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$138.6K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$133.3K $44.44/SF
− OpEx
−$60.0K −$20.00/SF
NOI
$73.3K $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%
$1,466,660
Cap Rate 7%
$1,047,614
Cap Rate 9%
$814,811
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 4.60%
Second Best
Multifamily LT 5
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,971
Businesses Nearby
Explore this area
Business Placement
Demographics for 11421, NY
42,586
Population
12,776
Households
3.3
Avg Household Size
38
Median Age
26%
College-Educated
79%
High-School Grad
1.3 sq mi
ZIP Area
32,758
Density / Sq Mi
$89,439
Median Household Income
$40,934
Median Earnings
$1,901
Median Rent
$682,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each apartment is occupied, and residents pay their own electric, gas, and heat.
Where is this triplex located?
The property is located at 8421 88th Street Woodhaven, 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 renovated apartments, all occupied; Detached Victorian‑style property built in 1920; 3,000 square feet on an oversized lot
