Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11558 124th Street South Ozone Park, NY 11420

    View on Map
    Picture of Duplexes at 11558 124th Street, South Ozone Park, NY
    Pending
    $699,999

    MULTI_FAMILY - South Ozone Park, NY

    Lot size:
    0.05 Acres
    Added:
    Oct 30, 2025
    Days on Market:
    154
    Last Refresh:
    Apr 1 at 9:06 pm

    Property Features for 11558 124th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bedroom 4, Basement, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2
    Parking features
    Driveway
    Interior features
    Washer/Dryer Hookup
    Basement
    Walk-Out Access
    Standard status
    Pending
    APN
    11667-0034
    Lot size
    0.05 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxAnnualAmount
    5872

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil
    Cooling system
    Window Unit(s), Wall/Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1920
    Number of units
    2
    Building materials
    Frame, Vinyl Siding

    We can help!

    Listing Contact
    Erseline A. Officer M

    Listing agent Erseline A. Officer M

    Listing office EXP Realty 70 E Sunrise Hwy Ste 500, Hauppauge, NY

    Listing date Oct 30, 2025

    MLS# 930461

    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.

    Overview

    South Ozone Park Multi-Family Home

    This legal two-family home is located in South Ozone Park, NY. The property features a two/three-bedroom unit over a one-bedroom unit. It also includes a walk-up attic and a finished basement with walk-out access. The property requires TLC and updates. Its location provides convenient access to amenities, public transportation, JFK Airport, the Van Wyck Expressway, and the Belt Parkway. The lot size is 0.0545 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Ozone Park
    County
    Queens
    State
    New York
    Longitude
    -73.814709
    Latitude
    40.676623

    Nearby Similar for Sale

    • $2,299,888

      South Ozone Park Commercial Property

      Commercial property in South Ozone Park with two units.
      13302 Rockaway Boulevard, South Ozone Park, NY 11420
      View Details
    • $969,000

      Renovated Two-Family Home, South Ozone

      Newly renovated two-family home in South Ozone Park.
      12141 133rd Street, South Ozone Park, NY 11420
      View Details
    • $849,000

      Spacious Two-Family Home in Queens

      Well-maintained two-family home with investment potential in South Ozone Park.
      10930 128th Street, South Ozone Park, NY 11420
      View Details
    • $1,200,000

      South Ozone Park Multi-Family Home

      Well-maintained two-family dwelling with spacious units and desirable features.
      149-19 117th Street, South Ozone Park, NY 11420
      View Details
    • $1,599,000

      Updated Two-Family Home, Prime Location

      Two-family home in South Ozone Park with income potential.
      14939 123rd Street, South Ozone Park, NY 11420
      View Details
    • $1,599,000

      Two-Family Home with Garage

      Two-family home in South Ozone Park with parking.
      116-25 134th Street, South Ozone Park, NY 11420
      View Details
    • $975,000

      South Ozone Park Two-Family House

      New two-family detached house in South Ozone Park, move-in ready.
      111-47 133rd Street, South Ozone Park, NY 11420
      View Details
    • $899,999

      Two-Family Home in Ozone Park

      Two-family home with parking, garage, and finished basement.
      10152 102nd Street, South Ozone Park, NY 11416
      View Details
    • $1,295,000

      South Ozone Park Two-Family Home

      Turn-key two-family home in South Ozone Park with income potential.
      13113 134th Street, South Ozone Park, NY 11420
      View Details
    • $1,095,000

      Renovated Two-Family Home, Richmond Hill

      Fully renovated two-family home in prime Richmond Hill.
      10535 135th Street, South Ozone Park, NY 11419
      View Details
    • $629,900

      Colonial Two-Family Home For Sale

      Two-family colonial in South Ozone Park with income potential.
      11444 127th Street, South Ozone Park, NY 11420
      View Details
    • $1,245,000

      Spacious Multi-Family Home on Large Lot

      Multi-family home on a large lot with many amenities.
      115-51 115th Street, South Ozone Park, NY 11420
      View Details

    FAQs

    What type of property is this?
    Duplex - Legal two-family home near transportation and JFK Airport.
    Where is this duplex located?
    The property is located at 11558 124th Street South Ozone Park, NY.
    What is the asking price?
    The asking price for this property is $699,999.
    What are key features of this property?
    This property features: Legal 2‑family property; Short sale approved; Finished basement with walk‑out access
    (516) 500-1755
    We can help!
    Listing Contact
    Erseline A. Officer M
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!