Brick Triplex With
For Sale
$1,700,000
Pending
90-27 Elmhurst Avenue, Jackson Heights, NY 11372
Residential Income, Jackson Heights, NY
Property Size2,680 SF
Lot Size0.05 Acres
Days on Market54
Property Features for 90-27 Elmhurst Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 2
Parking
1
Parking features
Garage
Patio and Porch features
Patio
Interior features
Entrance Foyer
Exterior features
Balcony, Lighting, Mailbox
Fencing
Perimeter, Fenced
Lot features
Back Yard, Level, Near Public Transit, Near School, Near Shops
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
Pending
APN
01478-0030
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10380
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s), Varies by Unit
Water source
Public
Amenities
private deck
outdoor space
secure fenced property
surveillance cameras
spacious lobby with skylight
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 · License #31LE1175078
(516) 984-1815
Added: Jul 9
Changed: Aug 20
Last Checked: Aug 31 at 3:06AM
MLS# 1018981
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 brick triplex contains three rental apartments with a combined five bedrooms and three full bathrooms. The first floor includes a one-bedroom unit, lobby, boiler room access, and private garage. A two-bedroom apartment occupies the second floor and includes a private deck with stairs to the yard; another two-bedroom unit is located on the third floor. Gas heat, gas hot water, public utilities, perimeter fencing, and organized refuse storage are in place. Brick pointing and selected window replacements were completed approximately in 2018.
The property is located on Elmhurst Avenue in Jackson Heights, near shopping, dining, parks, and daily services. Jackson Heights-Roosevelt Avenue/74th Street provides access to the E, F, M, R, and 7 trains, with multiple bus routes and major road connections nearby. The building is registered with HPD and includes a garage, shared rear outdoor area, and secure package-delivery lobby.
The property is located on Elmhurst Avenue in Jackson Heights, near shopping, dining, parks, and daily services. Jackson Heights-Roosevelt Avenue/74th Street provides access to the E, F, M, R, and 7 trains, with multiple bus routes and major road connections nearby. The building is registered with HPD and includes a garage, shared rear outdoor area, and secure package-delivery lobby.
Key Highlights
- Three rental units with a combined 5 bedrooms and 3 full baths
- 0.0534‑acre lot with private garage and shared rear outdoor space
- Private deck with exterior stairs to the yard on the second‑floor unit
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
3.85%
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 3.85%
Second Best
Multifamily LT 5
$633.7K
$554.5K – $739.3K
NOI $44,358 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,301 @ 7.0% cap · market cap 8.14%
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 - Legal three-family property with separate entrances, shared outdoor space, and a private garage connected to the lobby.
Where is this triplex located?
The property is located at 90-27 Elmhurst Avenue Jackson Heights, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Three rental units with a combined 5 bedrooms and 3 full baths; 0.0534‑acre lot with private garage and shared rear outdoor space; Private deck with exterior stairs to the yard on the second‑floor unit
