Three-Unit Brick Multifamily
9487 218th St, Queens Village, NY 11428
For Sale
$1,798,000
Three legal residences include two four-bedroom homes and a five-bedroom duplex.
Property Size5,292 SF
Price / SF$339.76
Days on Market23
Property Features for 9487 218th St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Amenities
private balconies
backyard
Building Details
Year Built
Listing Agency:
New Home Mega Management Corp
Listed By:
Haiim Russo · License #10311205952
(718) 808-2030
Source:
Searchhomesinlongisland
Added: Oct 17
Changed: Nov 7
Last Checked: Nov 7 at 6:59PM
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 New Home Mega Management Corp
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Investment Insights
Based on property information with market context.
Built in 2006, this brick multifamily property contains three legal units totaling 5,292 square feet. Two residences each have four bedrooms and two bathrooms; the third is a five-bedroom duplex with three full bathrooms. A full-height basement with a separate entrance and full bath adds space, while private balconies and a backyard are also part of the property.
The property is situated between Jamaica Avenue and Hillside Avenue, with shopping, dining, services, and transportation along both corridors. Queens Village LIRR is nearby, providing rail access toward Manhattan.
The property is situated between Jamaica Avenue and Hillside Avenue, with shopping, dining, services, and transportation along both corridors. Queens Village LIRR is nearby, providing rail access toward Manhattan.
Key Highlights
- Three legal units in a 5,292‑square‑foot brick property
- Two 4‑bedroom, 2‑bath residences and one 5‑bedroom duplex with 3 full baths
- Full‑height basement with separate entrance and full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,360
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,587,200
$2.6M
Cap Rate 7%
$1,848,000
$1.8M
Cap Rate 9%
$1,437,333
$1.4M
Market Conditions
NOI Build-Up for 5,292 SF
Gross rent
$244.5K $46.20/SF
− Vacancy
−$9.3K −$1.76/SF
EGI
$235.2K $44.44/SF
− OpEx
−$105.8K −$20.00/SF
NOI
$129.4K $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 Rate 5%
$2,587,200
Cap Rate 7%
$1,848,000
Cap Rate 9%
$1,437,333
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,360 @ 7.0% cap · market cap 7.19%
Second Best
Multifamily LT 5
$1.25M
$1.09M – $1.46M
NOI $87,591 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$3.90M
$3.41M – $4.55M
NOI $273,093 @ 7.0% cap · market cap 15.19%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,908
Businesses Nearby
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Business Placement
Demographics for 11428, NY
19,516
Population
6,335
Households
3.1
Avg Household Size
42
Median Age
28%
College-Educated
81%
High-School Grad
0.8 sq mi
ZIP Area
24,395
Density / Sq Mi
$84,977
Median Household Income
$42,146
Median Earnings
$1,827
Median Rent
$666,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Queens County, NY
Properties on Market for Triplexes in Queens County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three legal residences include two four-bedroom homes and a five-bedroom duplex.
Where is this triplex located?
The property is located at 9487 218th St Queens Village, NY.
What is the asking price?
The asking price for this property is $1,798,000.
What are key features of this property?
This property features: Three legal units in a 5,292‑square‑foot brick property; Two 4‑bedroom, 2‑bath residences and one 5‑bedroom duplex with 3 full baths; Full‑height basement with separate entrance and full bath
