Two Semi-Attached Triplex
For Sale
$3,600,000
90-25A & 90-27 Elmhurst Avenue, Jackson Heights, NY 11372
MULTI_FAMILY - Other - Jackson Heights, NY
Property Size5,360 SF
Lot Size0.05 Acres
Price / SF$671.64
Days on Market164
Property Features for 90-25A & 90-27 Elmhurst Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
10
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 5, Bedroom 2, Bedroom 3, Bedroom 6, Bedroom 8, Bathroom 3, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 7, Bathroom 6, Bedroom 9, Bedroom 10, Bedroom 5, Bedroom 4, Bedroom 1
Parking
7
Parking features
Garage, Parking Lot, Assigned
Security features
Security
Patio and Porch features
Patio
Interior features
Entrance Foyer
Exterior features
Balcony, Lighting, Mailbox
Fencing
Fenced, Perimeter, Barbed Wire, Chain Link
Lot features
Level, Near Public Transit, Near School, Near Shops, Paved
Middle school
Is 230
High school
Newtown High School
Elementary school district
Queens 24
Middle school district
Queens 30
High school district
Queens24
Directions
Roosevelt Avenue to Elmhurst Avenue, located near interestion of 91st Street.
Standard status
Active
APN
01478-0030
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
28741
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Cooling system
Multi Units, Varies by Unit, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
spacious lobbies
secure package delivery
organized garbage storage
rear outdoor space
clean mechanical setup
surveillance cameras
Building Details
Year built
1955
Number of units
6
Flooring type
Combination
Building materials
Block, Brick, Frame
Architectural style
Other
Listing Agency:
Leatherman Homes
(516) 766-1400
Listed By:
Kevin M. Leatherman ABR SFR C2EX A
(516) 984-1815
Added: Mar 1
Changed: Aug 1
Last Checked: Aug 12 at 11:06PM
MLS# 956967
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.
Two semi-attached legal 3-family buildings are offered together at 90-25A and 90-27 Elmhurst Avenue in Jackson Heights, Queens. The package includes six rental units with a total of 10 bedrooms and six full baths. Each building is approximately 2,680 square feet and features separate entrances and functional, efficient layouts. Common areas include spacious lobbies that accommodate secure package delivery, along with access to mechanical space. Heating and hot water are provided by natural gas with gas hot water. Exterior features include a private deck for the 90-27 second-floor unit, plus rear outdoor space at 90-27 for shared use.
Parking is built into the configuration with two private garages and five assigned parking spaces, supported by secure, fenced assigned parking. The properties also include side area for organized garbage storage and clean mechanical setups.
The buildings were built in 1955 and feature brick, frame, and block construction. Water and sewer services are public. Both properties are registered with HPD, and surveillance cameras with NVRs are installed in the 90-27 garage. Brick pointing was completed around 2018, and new windows were installed on the first and third floors around 2018.
Parking is built into the configuration with two private garages and five assigned parking spaces, supported by secure, fenced assigned parking. The properties also include side area for organized garbage storage and clean mechanical setups.
The buildings were built in 1955 and feature brick, frame, and block construction. Water and sewer services are public. Both properties are registered with HPD, and surveillance cameras with NVRs are installed in the 90-27 garage. Brick pointing was completed around 2018, and new windows were installed on the first and third floors around 2018.
Key Highlights
- 0.0534‑acre package at 90‑25A & 90‑27 Elmhurst Avenue
- Six rental units total 10 bedrooms and 6 full baths across both buildings
- Two garages plus 5 assigned parking spaces with secure fenced parking
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
$131,022
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
3.64%
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%
$2,620,440
$2.6M
Cap Rate 7%
$1,871,743
$1.9M
Cap Rate 9%
$1,455,800
$1.5M
Market Conditions
NOI Build-Up for 5,360 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
$247.6K $46.20/SF
− Vacancy
−$9.4K −$1.76/SF
EGI
$238.2K $44.44/SF
− OpEx
−$107.2K −$20.00/SF
NOI
$131.0K $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 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%
$2,620,440
Cap Rate 7%
$1,871,743
Cap Rate 9%
$1,455,800
Alternative Uses
Best Use
Apartment 5plus
$1.87M
$1.64M – $2.18M
NOI $131,022 @ 7.0% cap · market cap 3.64%
Second Best
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,717 @ 7.0% cap · market cap 2.46%
Theoretical Best
Office A
$3.95M
$3.46M – $4.61M
NOI $276,602 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7,989
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
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 - Two semi-attached legal 3-family buildings totaling six rental units with gas heat, two garages, and fenced assigned parking.
Where is this triplex located?
The property is located at 90-25A & 90-27 Elmhurst Avenue Jackson Heights, NY.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: 0.0534‑acre package at 90‑25A & 90‑27 Elmhurst Avenue; Six rental units total 10 bedrooms and 6 full baths across both buildings; Two garages plus 5 assigned parking spaces with secure fenced parking
