Three-Unit Multifamily
For Sale
$1,700,000
93-10 50th Avenue, Elmhurst, NY 11373
Detached three-family home in R5 zoning with three occupied apartments and an unfinished basement with separate entrance.
Property Size2,487 SF
Price / SF$683.55
Days on Market322
Property Features for 93-10 50th Avenue
General Information
Standard status
Active
Size
2,487 SF
Total Parking Spaces
3
Property subtype
Triplex
Zoning
R5
Occupancy
100%
Additional Details
Gross Income
$111,600
Taxes and HOA fees
Annual Taxes
$9,298
Building Details
Building Size
2,487 SF
Year Built
1920
Buildings
1
Stories
3
Construction
frame
Tenancy
Multi
Abandoned
No
Listing Agency:
Winzone Realty Inc
Listed By:
Marcia M. Guevara CBR SFR SRS C2EX
Source:
Cbwarburg
Added: Oct 7, 2025
Changed: Aug 23
Last Checked: Aug 23 at 9:18AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
Detached Colonial three-unit multifamily building located in Elmhurst, currently occupied. The property is a frame structure built in 1920 and features a private driveway.
The home includes three rental units. The 1st floor offers living room, eat-in kitchen, three bedrooms, and a full bathroom and is rented with a lease expiring 08/31/2026. The 2nd floor offers living room, eat-in kitchen, three bedrooms, and a full bathroom. The 3rd floor offers a small living room, eat-in kitchen, four bedrooms, and a full bathroom. There is a full unfinished basement with a separate entrance.
The property sits on a lot measuring 30x95 and includes three parking spaces that are currently rented for additional income. It is close to transportation, restaurants, supermarket, school, and commercial areas. Zoning is R5.
The home includes three rental units. The 1st floor offers living room, eat-in kitchen, three bedrooms, and a full bathroom and is rented with a lease expiring 08/31/2026. The 2nd floor offers living room, eat-in kitchen, three bedrooms, and a full bathroom. The 3rd floor offers a small living room, eat-in kitchen, four bedrooms, and a full bathroom. There is a full unfinished basement with a separate entrance.
The property sits on a lot measuring 30x95 and includes three parking spaces that are currently rented for additional income. It is close to transportation, restaurants, supermarket, school, and commercial areas. Zoning is R5.
Key Highlights
- Three‑family detached Colonial frame building built in 1920
- R5 zoning with private driveway
- 1st‑floor unit lease expires 08/31/2026
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
$60,793
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
3.58%
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%
$1,215,860
$1.2M
Cap Rate 7%
$868,471
$868.5K
Cap Rate 9%
$675,478
$675.5K
Market Conditions
NOI Build-Up for 2,487 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
$114.9K $46.20/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$110.5K $44.44/SF
− OpEx
−$49.7K −$20.00/SF
NOI
$60.8K $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%
$1,215,860
Cap Rate 7%
$868,471
Cap Rate 9%
$675,478
Alternative Uses
Best Use
Apartment 5plus
$868.5K
$759.9K – $1.01M
NOI $60,793 @ 7.0% cap · market cap 3.58%
Second Best
Multifamily LT 5
$588.1K
$514.6K – $686.1K
NOI $41,164 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,341 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,458
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Detached three-family home in R5 zoning with three occupied apartments and an unfinished basement with separate entrance.
Where is this triplex located?
The property is located at 93-10 50th Avenue Elmhurst, 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‑family detached Colonial frame building built in 1920; R5 zoning with private driveway; 1st‑floor unit lease expires 08/31/2026
