Renovated Two-Family
14939 123rd Street South Ozone Park, NY 11420
For Sale
$1,499,000
MULTI_FAMILY - South Ozone Park, NY
Property Size3,900 SF
Lot Size3,900.00 Acres
Price / SF$384.36
Days on Market96
Property Features for 14939 123rd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Rooms
Bedroom 1, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 4, Laundry Room, Bathroom 3, Bedroom 2, Bedroom 3
Parking features
Driveway
Patio and Porch features
Deck, Patio, Porch
Interior features
Entrance Foyer
Fencing
Fenced
Standard status
Active
Size
3,900 SF
Lot size
3,900.00 Acres
Taxes and HOA fees
Tax Annual Amount
8453
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1960
Floors in Building
3
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Asphalt
Listing Agency:
REAL ESTATE HOMES LLC
Listed By:
Catalina Guttilla · License #10491210706
Added: Apr 24
Changed: Jul 22
Last Checked: Jul 28 at 1:06AM
MLS# 11729894
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1960, this meticulously maintained two-family home at 149-39 123rd St. in South Ozone Park offers updated living space on a 3,900-square-foot lot. Each renovated unit features 3 bedrooms and 1 bathroom, with wood and ceramic flooring, formal dining, and living rooms. The second-floor unit includes a spacious kitchen with renovated countertops, appliances, and a pantry. The first-floor unit offers a fully updated kitchen with a center island, granite countertops, and stainless steel appliances.
The fully renovated basement has high ceilings, a brand-new third kitchen, epoxy flooring, multiple closets, a pantry, laundry area, and utility room, along with 3 separate exits. With proper permits, it can be used for additional income. Outside, the property includes a spacious backyard with a ceramic deck, a garage, and driveway parking for two to three cars. The home is about 5 minutes to JFK Airport, near buses and subways, and just off the Belt Parkway, with roughly 25 minutes to Manhattan or Long Island.
The fully renovated basement has high ceilings, a brand-new third kitchen, epoxy flooring, multiple closets, a pantry, laundry area, and utility room, along with 3 separate exits. With proper permits, it can be used for additional income. Outside, the property includes a spacious backyard with a ceramic deck, a garage, and driveway parking for two to three cars. The home is about 5 minutes to JFK Airport, near buses and subways, and just off the Belt Parkway, with roughly 25 minutes to Manhattan or Long Island.
Key Highlights
- Two‑family home built in 1960 on a 3,900 SF lot, with brick construction and an asphalt roof
- 2 renovated units, each with 3 bedrooms and 1 bathroom, plus separate gas and electric meters
- Second‑floor unit includes a spacious kitchen with renovated countertops, appliances, and pantry, with formal dining and living rooms
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $180.2k | $46.20 |
| − Vacancy | −$6.8k | −$1.76 |
| EGI | $173.3k | $44.44 |
| − OpEx | −$78.0k | −$20.00 |
| NOI | $95.3k | $24.44 |
3,900 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,333 @ 7.0% cap · market cap 6.36%
Second Best
Multifamily LT 5
$922.2K
$806.9K – $1.08M
NOI $64,551 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$2.88M
$2.52M – $3.35M
NOI $201,259 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two renovated units with separate gas and electric meters, plus a fully renovated basement and backyard.
Where is this duplex located?
The property is located at 14939 123rd Street South Ozone Park, 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: Two‑family home built in 1960 on a 3,900 SF lot, with brick construction and an asphalt roof; 2 renovated units, each with 3 bedrooms and 1 bathroom, plus separate gas and electric meters; Second‑floor unit includes a spacious kitchen with renovated countertops, appliances, and pantry, with formal dining and living rooms
