College Point Two-Family
1423 116th Street, College Point, NY 11356
- Added:
- Mar 23, 2026
- Days on Market:
- 61
- Last Refresh:
- May 22 at 12:06 pm
Property Features for 1423 116th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 5, Bathroom 1, Bathroom 2, Basement, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 6, Dining Room
- Parking features
- Driveway
- Interior features
- First Floor Bedroom, Formal Dining, High Ceilings, Open Kitchen, Primary Bathroom
- Basement
- Finished, Walk-Out Access, Full
- Standard status
- Pending
- APN
- 04051-0005
- Size
- 3,000 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9268
Utilities
- Utilities
- Natural Gas Available
- Sewer type
- Public Sewer
- Heating system
- Baseboard
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2006
- Number of units
- 2
- Building materials
- Brick
Listing agent Yanan Eill (516) 493-5363
Listing office E Realty International Corp 3907 Prince St Ste 4D, Flushing, NY (718) 886-8110
Listing date Mar 23, 2026
MLS# 975158
Listing URL
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.
HighLights
- Move‑in ready, legal two‑family home with immediate income potential from a rented first floor ($3,000/month).
- Enjoy nearly 3,000 sq ft of living space with two units, each featuring 3 bedrooms and 2 full bathrooms.
- Second floor unit is vacant and ready for occupancy or additional rental income, featuring a spacious living room with abundant natural light.
- Fully finished basement with a full bathroom offers flexible space.
- Convenient location near public transportation (Q20, Q25, Q26 buses) with direct access to Flushing and close to College Point Plaza.
- Includes desirable features such as central air conditioning, separate gas and electric meters, individual boilers, and a private driveway for two vehicles.
Overview
This fully detached, all-brick legal two-family home is located in College Point. The property offers approximately 3,000 square feet of living space and requires no renovations. Each floor features a layout with 3 bedrooms and 2 full bathrooms, complemented by open-concept kitchens and dining areas. The first floor is currently rented at $3,000 per month, providing income. The second floor is vacant. The second-floor unit includes a living room and large windows. A fully finished basement adds extra flexibility and includes a full bathroom. Additional features include separate gas and electric meters, individual boilers for each unit, central heating and air conditioning, and a private driveway that accommodates up to two vehicles. The property is located minutes from the Q20, Q25, and Q26 buses with direct access to Flushing, and close to College Point Plaza, offering access to supermarkets, banks, restaurants, and everyday essentials. The lot size is 0.0589 acres.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$814.8K
NOI $73,333 @ 9.00% cap · cautious / downside scenario
Moderate
$1.05M
NOI $73,333 @ 7.00% cap · market / base-case scenario
Aggressive
$1.47M
NOI $73,333 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $138.6k | $46.20 |
| − Vacancy | −$5.3k | −$1.76 |
| EGI | $133.3k | $44.44 |
| − OpEx | −$60.0k | −$20.00 |
| NOI | $73.3k | $24.44 |
3,000 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 5.31%
Second Best
Multifamily LT 5
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- College Point
- County
- Queens
- State
- New York
- Longitude
- -73.851001
- Latitude
- 40.785078
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Move-in ready, income-producing two-family home in College Point.
Where is this duplex located?
The property is located at 1423 116th Street College Point, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Move‑in ready, legal two‑family home with immediate income potential from a rented first floor ($3,000/month).; Enjoy nearly 3,000 sq ft of living space with two units, each featuring 3 bedrooms and 2 full bathrooms.; Second floor unit is vacant and ready for occupancy or additional rental income, featuring a spacious living room with abundant natural light.
