Triplex with
New
For Sale
$1,128,000
97-16 103rd Street, Ozone Park, NY 11416
Three residential units include two three-bedroom apartments and a two-bedroom lower-level apartment.
Property Size2,200 SF
Price / SF$512.73
Days on Market6
Property Features for 97-16 103rd Street
General Information
Standard status
Active
Size
2,200 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,560
Amenities
Ceiling Fan(s)
Eat-in Kitchen
High Ceilings
Pantry
Building Details
Building Size
2,200 SF
Year Built
1925
Units
3
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Paulina Cardenas Andrade
(646) 824-6534
Source:
Georgemcknight
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:16PM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
This three-unit, semi-attached property in Ozone Park has a three-bedroom apartment on each of the first two floors and a two-bedroom apartment on the lower level. Renovated kitchens and bathrooms are present in the first-floor and lower-level apartments. The first-floor unit also has a rear porch and patio.
The home dates to 1925. Updates include a water heater installed approximately two years ago, a roof approximately six years old, and windows replaced approximately seven years ago.
The home dates to 1925. Updates include a water heater installed approximately two years ago, a roof approximately six years old, and windows replaced approximately seven years ago.
Key Highlights
- Three apartments: two three‑bedroom units and one two‑bedroom unit
- Renovated kitchens and bathrooms in the lower‑level and first‑floor apartments
- First‑floor unit includes a rear porch and patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,778
Cap Rate
4.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,075,560
$1.1M
Cap Rate 7%
$768,257
$768.3K
Cap Rate 9%
$597,533
$597.5K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$101.6K $46.20/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$97.8K $44.44/SF
− OpEx
−$44.0K −$20.00/SF
NOI
$53.8K $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 Rate 5%
$1,075,560
Cap Rate 7%
$768,257
Cap Rate 9%
$597,533
Alternative Uses
Best Use
Apartment 5plus
$768.3K
$672.2K – $896.3K
NOI $53,778 @ 7.0% cap · market cap 4.77%
Second Best
Multifamily LT 5
$520.2K
$455.2K – $606.9K
NOI $36,414 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,531 @ 7.0% cap · market cap 10.06%
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
3,681
Businesses Nearby
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Business Placement
Demographics for 11416, NY
28,381
Population
8,047
Households
3.5
Avg Household Size
35
Median Age
25%
College-Educated
78%
High-School Grad
0.7 sq mi
ZIP Area
40,544
Density / Sq Mi
$85,544
Median Household Income
$43,899
Median Earnings
$1,964
Median Rent
$733,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include two three-bedroom apartments and a two-bedroom lower-level apartment.
Where is this triplex located?
The property is located at 97-16 103rd Street Ozone Park, NY.
What is the asking price?
The asking price for this property is $1,128,000.
What are key features of this property?
This property features: Three apartments: two three‑bedroom units and one two‑bedroom unit; Renovated kitchens and bathrooms in the lower‑level and first‑floor apartments; First‑floor unit includes a rear porch and patio
