Three-Family Brick
For Sale
$1,780,000
Pending
8715 Justice Avenue, Elmhurst, NY 11373
A semi-attached, three-unit residential property includes a basement and first-floor bedrooms.
Property Size3,420 SF
Days on Market9
Property Features for 8715 Justice Avenue
General Information
Standard status
Pending
Size
3,420 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,205
Amenities
Full,Walk-Out Access
Yes
First Floor Bedroom
Full, Walk-Out Access
Public
No
3420
Building Details
Building Size
3,420 SF
Year Built
1920
Construction
brick
Listing Agency:
(516) 703-2918
Listed By:
Barbara Murray
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:38PM
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 Barbara Murray
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Investment Insights
Based on property information with market context.
This brick, semi-attached triplex contains three legal residential units and a full basement with walk-out access. First-floor bedrooms are also noted. The building measures 20 by 55 feet, with a 25-by-98-foot lot, and was built in 1920.
The property is at 8715 Justice Avenue in Elmhurst, near subway service and shopping.
The property is at 8715 Justice Avenue in Elmhurst, near subway service and shopping.
Key Highlights
- Legal three‑family property with a full basement and walk‑out access
- Brick, semi‑attached construction
- 20' by 55' building on a 25' by 98' lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,600
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,672,000
$1.7M
Cap Rate 7%
$1,194,286
$1.2M
Cap Rate 9%
$928,889
$928.9K
Market Conditions
NOI Build-Up for 3,420 SF
Gross rent
$158.0K $46.20/SF
− Vacancy
−$6.0K −$1.76/SF
EGI
$152.0K $44.44/SF
− OpEx
−$68.4K −$20.00/SF
NOI
$83.6K $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%
$1,672,000
Cap Rate 7%
$1,194,286
Cap Rate 9%
$928,889
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.05M – $1.39M
NOI $83,600 @ 7.0% cap · market cap 4.70%
Second Best
Multifamily LT 5
$808.7K
$707.6K – $943.5K
NOI $56,607 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,488 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,354
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?
Triplex - A semi-attached, three-unit residential property includes a basement and first-floor bedrooms.
Where is this triplex located?
The property is located at 8715 Justice Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,780,000.
What are key features of this property?
This property features: Legal three‑family property with a full basement and walk‑out access; Brick, semi‑attached construction; 20' by 55' building on a 25' by 98' lot
