Two-Unit Duplex with Walk-Up
New
For Sale
$875,000
8908 240th Street, Bellerose, NY 11426
Each apartment has its own kitchen and bathroom, complemented by a full basement and private backyard.
Property Size1,270 SF
Days on Market6
Property Features for 8908 240th Street
General Information
Standard status
Active
Size
1,270 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,170
Building Details
Building Size
1,270 SF
Year Built
1930
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Danielle Mah Lee
(516) 351-7413
Source:
Cottiemaxwellrealestate
Added: Oct 22
Changed: Oct 26
Last Checked: Oct 26 at 10:34PM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
Built in 1930, this legal two-family home contains two apartments, each with a kitchen and bathroom. Wood flooring runs throughout. A walk-up attic and full basement add further interior space, with extra closets and storage in the basement. The property also includes a private backyard.
The home is in Bellerose, near public transportation, parks, and shopping.
The home is in Bellerose, near public transportation, parks, and shopping.
Key Highlights
- Legal two‑family home with two apartments
- Each apartment has a full kitchen and bathroom
- Walk‑up attic and full basement with additional closets and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,044
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$620,880
$620.9K
Cap Rate 7%
$443,486
$443.5K
Cap Rate 9%
$344,933
$344.9K
Market Conditions
NOI Build-Up for 1,270 SF
Gross rent
$58.7K $46.20/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$56.4K $44.44/SF
− OpEx
−$25.4K −$20.00/SF
NOI
$31.0K $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%
$620,880
Cap Rate 7%
$443,486
Cap Rate 9%
$344,933
Alternative Uses
Best Use
Apartment 5plus
$443.5K
$388.1K – $517.4K
NOI $31,044 @ 7.0% cap · market cap 3.55%
Second Best
Multifamily LT 5
$300.3K
$262.8K – $350.4K
NOI $21,021 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$936.3K
$819.2K – $1.09M
NOI $65,538 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,353
Businesses Nearby
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Business Placement
Demographics for 11426, NY
19,343
Population
6,813
Households
2.8
Avg Household Size
43
Median Age
44%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
13,816
Density / Sq Mi
$107,591
Median Household Income
$57,622
Median Earnings
$2,158
Median Rent
$676,100
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 - Each apartment has its own kitchen and bathroom, complemented by a full basement and private backyard.
Where is this duplex located?
The property is located at 8908 240th Street Bellerose, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Legal two‑family home with two apartments; Each apartment has a full kitchen and bathroom; Walk‑up attic and full basement with additional closets and storage
