Brick Triplex with Private
New
For Sale
$1,888,000
89-19 55th Ave, Elmhurst, NY 11373
MULTI_FAMILY - Elmhurst, NY
Property Size3,162 SF
Lot Size0.05 Acres
Price / SF$597.09
Days on Market4
Property Features for 89-19 55th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
7
Full bathrooms
4
Half bathrooms
3
Rooms
Bedroom 7, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 1, Bathroom 3, Bathroom 7, Bedroom 1, Bedroom 4, Bathroom 6, Bathroom 5, Bathroom 2, Bathroom 4, Bedroom 3
Subdivision
Elmhurst
Standard status
Active
Size
3,162 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
11375
Utilities
Heating system
Natural Gas
Amenities
balconies
Building Details
Year built
1960
Flooring type
Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
LANDMARK INTERNATIONAL REAL ESTATE GROUP LLC
(917) 530-5075
Listed By:
Zhi Ying Wu
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 7 at 1:06PM
MLS# 11918790
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 semi-detached, solid-brick triplex contains two three-bedroom apartments with one-and-a-half baths and a one-bedroom walk-in apartment, along with a full finished basement. The 3,162-square-foot property was built in 1960 and includes hardwood flooring, natural-gas heating, an asphalt roof, a large entry foyer, living rooms with L-shaped dining areas, and private baths in the primary bedrooms. Upper apartments have front-facing balconies, while the basement connects separately to the backyard.
The property occupies a 0.046-acre lot measuring 20 feet by 100 feet, with a 20-foot by 56-foot building footprint. An attached one-car garage and private driveway provide on-site vehicle access. The Elmhurst location is near the E, F, M, and R subway services at Grand Av–Newton Station and Queens Boulevard.
The property occupies a 0.046-acre lot measuring 20 feet by 100 feet, with a 20-foot by 56-foot building footprint. An attached one-car garage and private driveway provide on-site vehicle access. The Elmhurst location is near the E, F, M, and R subway services at Grand Av–Newton Station and Queens Boulevard.
Key Highlights
- Legal 3‑family brick residence with two three‑bedroom units and one one‑bedroom walk‑in apartment
- 3,162 SF building on a 0.046‑acre lot measuring 20' by 100'
- Full finished basement with separate entrance to the backyard
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
$77,293
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
4.09%
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%
$1,545,860
$1.5M
Cap Rate 7%
$1,104,186
$1.1M
Cap Rate 9%
$858,811
$858.8K
Market Conditions
NOI Build-Up for 3,162 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
$146.1K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$140.5K $44.44/SF
− OpEx
−$63.2K −$20.00/SF
NOI
$77.3K $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 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%
$1,545,860
Cap Rate 7%
$1,104,186
Cap Rate 9%
$858,811
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$966.2K – $1.29M
NOI $77,293 @ 7.0% cap · market cap 4.09%
Second Best
Multifamily LT 5
$747.7K
$654.2K – $872.3K
NOI $52,336 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,174 @ 7.0% cap · market cap 8.64%
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
4,897
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
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 - Three legal apartments offer hardwood floors, upper-level balconies, and a finished basement with separate backyard access.
Where is this triplex located?
The property is located at 89-19 55th Ave Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: Legal 3‑family brick residence with two three‑bedroom units and one one‑bedroom walk‑in apartment; 3,162 SF building on a 0.046‑acre lot measuring 20' by 100'; Full finished basement with separate entrance to the backyard
