Two-Dwelling
For Sale
$1,299,000
Pending
85-20 53rd Avenue, Elmhurst, NY 11373
The property includes a driveway and sits near shopping, transit, schools, and restaurants.
Property Size1,808 SF
Days on Market9
Property Features for 85-20 53rd Avenue
General Information
Standard status
Pending
Size
1,808 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,678
Amenities
Full
2
Yes
4
First Floor Bedroom,First Floor Full Bath
Public
No
Driveway
1808
Building Details
Building Size
1,808 SF
Year Built
1925
Listing Agency:
(516) 703-2918
Listed By:
Randy Kral
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:03PM
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 Randy Kral
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Investment Insights
Based on property information with market context.
This 1,808-square-foot duplex contains two dwellings and was built in 1925. A driveway provides on-site vehicle access.
Shopping, transportation, schools, and restaurants are nearby, including Queens Center Mall. The property is located in Elmhurst, New York.
Shopping, transportation, schools, and restaurants are nearby, including Queens Center Mall. The property is located in Elmhurst, New York.
Key Highlights
- Two dwellings in a duplex
- 1,808 square feet
- Built in 1925
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,196
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,920
$883.9K
Cap Rate 7%
$631,371
$631.4K
Cap Rate 9%
$491,067
$491.1K
Market Conditions
NOI Build-Up for 1,808 SF
Gross rent
$83.5K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$80.4K $44.44/SF
− OpEx
−$36.2K −$20.00/SF
NOI
$44.2K $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%
$883,920
Cap Rate 7%
$631,371
Cap Rate 9%
$491,067
Alternative Uses
Best Use
Apartment 5plus
$631.4K
$552.5K – $736.6K
NOI $44,196 @ 7.0% cap · market cap 3.40%
Second Best
Multifamily LT 5
$427.5K
$374.1K – $498.8K
NOI $29,925 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$1.33M
$1.17M – $1.56M
NOI $93,301 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,988
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
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 - The property includes a driveway and sits near shopping, transit, schools, and restaurants.
Where is this duplex located?
The property is located at 85-20 53rd Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two dwellings in a duplex; 1,808 square feet; Built in 1925
