Three-Family Triplex with Finished
New
For Sale
$1,190,000
Pending
8427 85th Drive, Woodhaven, NY 11421
Separate gas and electric meters serve the building’s three levels of living space.
Property Size2,778 SF
Lot Size0.11 Acres
Days on Market4
Property Features for 8427 85th Drive
General Information
Standard status
Pending
Size
2,778 SF
Lot size
0.11 Acres
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Individually Metered Utilities
gas, electricity
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,745
Amenities
Finished,Full
3
Yes
8
First Floor Bedroom,First Floor Full Bath,Other
Finished, Full
Public
No
Detached, Garage, Private
2778
Building Details
Building Size
2,778 SF
Year Built
1915
Buildings
1
Listing Agency:
Prospes Real Estate Corp
(516) 703-2918
Listed By:
Randy Kral
Source:
Hedgestonehomes
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 2:59PM
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 Prospes Real Estate Corp
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Investment Insights
Based on property information with market context.
This detached triplex, built in 1915, has a 21-by-52-foot building footprint on a 46.91-by-100-foot lot. The first and second floors each contain three bedrooms and one full bath. A finished attic with a separate entrance adds two bedrooms and one full bath, while the full finished basement provides additional interior space. The property has three separate gas meters and three separate electric meters.
The legal occupancy classification requires independent verification: some records may identify the property as a two-family residence, while three-family status is also indicated. The address is near shopping, parks, schools, and public transportation, including the J train at 85 St–Forest Pkwy.
The legal occupancy classification requires independent verification: some records may identify the property as a two-family residence, while three-family status is also indicated. The address is near shopping, parks, schools, and public transportation, including the J train at 85 St–Forest Pkwy.
Key Highlights
- Three levels provide 8 bedrooms and 3 full baths
- 46.91‑by‑100‑foot lot; building measures approximately 21 by 52 feet
- Finished attic has a separate entrance, 2 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,907
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,358,140
$1.4M
Cap Rate 7%
$970,100
$970.1K
Cap Rate 9%
$754,522
$754.5K
Market Conditions
NOI Build-Up for 2,778 SF
Gross rent
$128.3K $46.20/SF
− Vacancy
−$4.9K −$1.76/SF
EGI
$123.5K $44.44/SF
− OpEx
−$55.6K −$20.00/SF
NOI
$67.9K $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%
$1,358,140
Cap Rate 7%
$970,100
Cap Rate 9%
$754,522
Alternative Uses
Best Use
Apartment 5plus
$970.1K
$848.8K – $1.13M
NOI $67,907 @ 7.0% cap · market cap 5.71%
Second Best
Multifamily LT 5
$656.9K
$574.8K – $766.3K
NOI $45,980 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,358 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,948
Businesses Nearby
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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 - Separate gas and electric meters serve the building’s three levels of living space.
Where is this triplex located?
The property is located at 8427 85th Drive Woodhaven, NY.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Three levels provide 8 bedrooms and 3 full baths; 46.91‑by‑100‑foot lot; building measures approximately 21 by 52 feet; Finished attic has a separate entrance, 2 bedrooms and 1 full bath
