Detached Two-Family
For Sale
$1,350,000
Pending
90-10 69th Avenue, Forest Hills, NY 11375
Residential Income, Forest Hills, NY
Property Size1,648 SF
Lot Size0.06 Acres
Days on Market101
Property Features for 90-10 69th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 1, Dining Room, Bedroom 1, Bathroom 2
Parking features
Garage, Covered, Off Street, Driveway
Window features
Bay Window(s), Skylight(s)
Patio and Porch features
Porch, Patio
Pool private
1
Interior features
First Floor Full Bath, Beamed Ceilings, Breakfast Bar, Cathedral Ceiling(s), Ceiling Fan(s), Eat-in Kitchen, Entrance Foyer, Formal Dining, Granite Counters, High Ceilings, High Speed Internet, Kitchen Island, Natural Woodwork, Open Floorplan, Open Kitchen, Master Downstairs, Recessed Lighting, Storage, Washer/Dryer Hookup, Wet Bar
Basement
Walk-Out Access, Finished, Storage Space, Full
Elementary school
Ps 144 Col Jeromus Remsen
Middle school
Jhs 190 Russell Sage
High school
Queens Metropolitan High School
Elementary school district
Queens 28
Middle school district
Queens 28
High school district
Queens 28
Standard status
Pending
APN
03209-0005
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8745
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
above ground swimming pool
wood deck
patio
brick front porch
central air conditioning
laundry
breakfast bar
barn doors
cathedral ceilings
exposed beams
Building Details
Year built
1930
Number of units
2
Flooring type
Hardwood, Wood
Building materials
Frame
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Benjamin Realty Since 1980
(718) 263-1600
Listed By:
Jillian Grancaric
(917) 885-6849
Added: May 15
Changed: Aug 20
Last Checked: Aug 23 at 6:06PM
MLS# 1000500
Copyright © 2026 OneKey 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.
Located at 90-10 69th Avenue in Forest Hills, this detached two-family residence was built in 1930 and includes separate entrances for two duplex apartments. The main unit spans the first floor and lower level with two bedrooms and two bathrooms, while the upper residence includes two bedrooms, one bathroom, and a finished attic used as a private primary suite or additional living area. Interior features include open kitchens, formal dining areas, hardwood and wood flooring, granite counters, breakfast bars, central air, split-unit heating and cooling, and laundry provisions.
The 0.0597-acre property includes a private backyard with an above-ground pool, surrounding wood deck, patio, retractable shade, private driveway, and detached one-car garage. The lot measures 26x100, and the building contains 1,648 interior sf within a 16 x 36 footprint. Public water and public sewer serve the property, with natural gas heating and cable availability. The outdoor improvements, driveway, and garage are described as approved and legal with the DOB.
The 0.0597-acre property includes a private backyard with an above-ground pool, surrounding wood deck, patio, retractable shade, private driveway, and detached one-car garage. The lot measures 26x100, and the building contains 1,648 interior sf within a 16 x 36 footprint. Public water and public sewer serve the property, with natural gas heating and cable availability. The outdoor improvements, driveway, and garage are described as approved and legal with the DOB.
Key Highlights
- Two duplex apartments with separate entrances: main unit has 2 bedrooms and 2 bathrooms; upper unit has 2 bedrooms and 1 bathroom
- 0.0597‑acre lot measuring 26x100, with a 16 x 36 building footprint
- 1,648 interior sf building constructed in 1930
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
$40,284
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
2.98%
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%
$805,680
$805.7K
Cap Rate 7%
$575,486
$575.5K
Cap Rate 9%
$447,600
$447.6K
Market Conditions
NOI Build-Up for 1,648 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
$76.1K $46.20/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$73.2K $44.44/SF
− OpEx
−$33.0K −$20.00/SF
NOI
$40.3K $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%
$805,680
Cap Rate 7%
$575,486
Cap Rate 9%
$447,600
Alternative Uses
Best Use
Apartment 5plus
$575.5K
$503.6K – $671.4K
NOI $40,284 @ 7.0% cap · market cap 2.98%
Second Best
Multifamily LT 5
$389.7K
$341.0K – $454.6K
NOI $27,277 @ 7.0% cap · market cap 2.02%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $85,045 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
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?
Duplex - Separate entrances, private outdoor space, and dedicated parking support flexible residential use.
Where is this duplex located?
The property is located at 90-10 69th Avenue Forest Hills, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Two duplex apartments with separate entrances: main unit has 2 bedrooms and 2 bathrooms; upper unit has 2 bedrooms and 1 bathroom; 0.0597‑acre lot measuring 26x100, with a 16 x 36 building footprint; 1,648 interior sf building constructed in 1930
