Three-Family Property with
For Sale
$1,900,000
90-25A & Lot 155 Elmhurst Avenue, Jackson Heights, NY 11372
Residential Income, Jackson Heights, NY
Property Size2,680 SF
Lot Size0.07 Acres
Price / SF$708.96
Days on Market49
Property Features for 90-25A & Lot 155 Elmhurst Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 1
Parking
6
Parking features
Parking Lot
Patio and Porch features
Patio
Interior features
Entrance Foyer
Exterior features
Lighting, Mailbox
Fencing
Fenced, Perimeter
Lot features
Level
Elementary school
PS 89 Jose Peralta School Of Dreamers
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
01478-0032
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
18361
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Wall/Window Unit(s), Varies by Unit, Window Unit(s)
Water source
Public
Amenities
surveillance cameras w/NVRs
spacious lobby
Building Details
Year built
1955
Number of units
3
Building materials
Block, Brick
Architectural style
Other
Listing Agency:
Leatherman Homes
(516) 766-1400
Listed By:
Kevin M. Leatherman ABR SFR C2EX A
(516) 984-1815
Added: Jul 9
Changed: Aug 20
Last Checked: Aug 26 at 3:06PM
MLS# 1019795
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.
This semi-attached legal triplex at 90-25A & Lot 155 Elmhurst Avenue includes three rental units totaling 2,680 square feet, with five bedrooms and three full baths. The first floor has a common lobby, one-bedroom unit, boiler room access, and a private garage; the second and third floors each contain a two-bedroom, one-bath unit. The property also includes five assigned parking spaces on a fenced lot, surveillance cameras with NVRs, natural-gas heating and hot water, public water and sewer, and a 1955 construction date.
The property is located in Jackson Heights near shopping, dining, parks, and daily services along Elmhurst Avenue and nearby corridors. Jackson Heights-Roosevelt Avenue/74th Street provides access to the E, F, M, R, and 7 trains, with multiple bus routes and major roadways nearby. Midtown Manhattan is approximately 20 to 25 minutes away. Brick pointing and first- and third-floor window replacements were completed in approximately 2018, and the property is registered with HPD.
The property is located in Jackson Heights near shopping, dining, parks, and daily services along Elmhurst Avenue and nearby corridors. Jackson Heights-Roosevelt Avenue/74th Street provides access to the E, F, M, R, and 7 trains, with multiple bus routes and major roadways nearby. Midtown Manhattan is approximately 20 to 25 minutes away. Brick pointing and first- and third-floor window replacements were completed in approximately 2018, and the property is registered with HPD.
Key Highlights
- Legal three‑family building with 2,680 square feet, five bedrooms, and three full baths
- Five assigned parking spaces plus a private garage
- Three‑unit layout: one one‑bedroom unit and two two‑bedroom units
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
$65,511
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
3.45%
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%
$1,310,220
$1.3M
Cap Rate 7%
$935,871
$935.9K
Cap Rate 9%
$727,900
$727.9K
Market Conditions
NOI Build-Up for 2,680 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
$123.8K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$119.1K $44.44/SF
− OpEx
−$53.6K −$20.00/SF
NOI
$65.5K $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%
$1,310,220
Cap Rate 7%
$935,871
Cap Rate 9%
$727,900
Alternative Uses
Best Use
Apartment 5plus
$935.9K
$818.9K – $1.09M
NOI $65,511 @ 7.0% cap · market cap 3.45%
Second Best
Multifamily LT 5
$633.7K
$554.5K – $739.3K
NOI $44,358 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,301 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7,312
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 - Three rental units include a private garage and fenced assigned parking.
Where is this triplex located?
The property is located at 90-25A & Lot 155 Elmhurst Avenue Jackson Heights, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Legal three‑family building with 2,680 square feet, five bedrooms, and three full baths; Five assigned parking spaces plus a private garage; Three‑unit layout: one one‑bedroom unit and two two‑bedroom units
