Renovated Multifamily Home, Great
For Sale
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- 99th Street & 25th Ave, East Elmhurst, NY 11369
Fully renovated 3-family home near LaGuardia, shops, and restaurants.
Property Size2,297 SF
Price / SF$652.59
Days on Market753
Property Features for - 99th Street & 25th Ave
General Information
Standard status
Active
Size
2,297 SF
Property subtype
Mixed Use
Listing Agency:
EXPERT HOMES NY INC
Listed By:
Joseph Noor
(646) 584-2077
Source:
Crexi
Added: Sep 19, 2024
Changed: Sep 11
Last Checked: Oct 11 at 5:33AM
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 EXPERT HOMES NY INC
Investment Insights
Based on property information with market context.
This fully renovated 3-family home presents an investment opportunity. The first-floor unit features 3 bedrooms, 1 bath, and an open layout with a modern kitchen. The basement includes high ceilings, 2 bedrooms, 1 bath, and a separate entrance. The second floor contains a 1-bedroom and a 2-bedroom apartment. All units are in excellent condition. The property also includes a 2-car garage. Tenants are responsible for utilities, excluding water. The property is located close to LaGuardia, shops, restaurants, schools, and highways. The property size is 2297 square feet.
Key Highlights
- Fully renovated 3‑family home offering investment opportunity.
- Tenant‑paid utilities (except water).
- 2‑car garage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,149
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,122,980
$1.1M
Cap Rate 7%
$802,129
$802.1K
Cap Rate 9%
$623,878
$623.9K
Market Conditions
NOI Build-Up for 2,297 SF
Gross rent
$106.1K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$102.1K $44.44/SF
− OpEx
−$45.9K −$20.00/SF
NOI
$56.1K $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%
$1,122,980
Cap Rate 7%
$802,129
Cap Rate 9%
$623,878
Alternative Uses
Best Use
Apartment 5plus
$802.1K
$701.9K – $935.8K
NOI $56,149 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,536 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 11369, NY
40,805
Population
13,893
Households
2.9
Avg Household Size
37
Median Age
24%
College-Educated
79%
High-School Grad
1.1 sq mi
ZIP Area
37,095
Density / Sq Mi
$80,577
Median Household Income
$40,089
Median Earnings
$1,983
Median Rent
$734,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Fully renovated 3-family home near LaGuardia, shops, and restaurants.
Where is this multifamily property located?
The property is located at - 99th Street & 25th Ave East Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Fully renovated 3‑family home offering investment opportunity.; Tenant‑paid utilities (except water).; 2‑car garage.
