Legal Two-Unit Duplex
15-07 120th Street College Point, NY 11356
15-07 120th Street, College Point, NY, 11356
$989,000
For Sale
$989,000
MULTI_FAMILY - Colonial - College Point, NY
Property Size3,700 SF
Lot Size0.10 Acres
Price / SF$267.30
Days on Market242
Property Features for 15-07 120th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2
- Interior features
- First Floor Bedroom
- Basement
- Full, Unfinished
- Standard status
- Active
- APN
- 04075-0049
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 5526
Utilities
- Heating system
- Natural Gas, Steam
- Water source
- Public
Building Details
- Year built
- 1910
- Number of units
- 2
- Architectural style
- Colonial
Listing Agency
Winzone Realty Inc
(718) 899-7000
8115 Queens Blvd Ste 2A, ELMHURST, NY
Listed by
Victoria Chang
(347) 781-8888
Added: Nov 17, 2025 Checked: Jul 17 at 10:06 pm
MLS# 936446
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.
Investment Insights
Based on property information with market context.
This property is a legal two-dwelling duplex offered in good condition. The setup is designed as two separate dwellings, supporting residential income use under the current legal configuration. The listing also notes land value and includes an approved plan for a legal two-dwelling development totaling 3,700 SF.
The site is located in College Point, Queens, NY. Zoning is listed as R4, and the property is accompanied by an approved plan aligned with maintaining a legal two-dwelling configuration.
For buyers seeking a residential income property, the current legal two-dwelling status provides a straightforward path for owner-occupants or investors. For those planning renovations or redevelopment, the presence of an approved plan under R4 zoning can help streamline the permitting outlook compared to starting from scratch. With the asset described as being in good condition and supported by an approved two-dwelling plan, this duplex is positioned for practical next-step due diligence around the project scope and schedule.
The site is located in College Point, Queens, NY. Zoning is listed as R4, and the property is accompanied by an approved plan aligned with maintaining a legal two-dwelling configuration.
For buyers seeking a residential income property, the current legal two-dwelling status provides a straightforward path for owner-occupants or investors. For those planning renovations or redevelopment, the presence of an approved plan under R4 zoning can help streamline the permitting outlook compared to starting from scratch. With the asset described as being in good condition and supported by an approved two-dwelling plan, this duplex is positioned for practical next-step due diligence around the project scope and schedule.
Key Highlights
- Legal two‑dwelling property in good condition, with R4 zoning and an approved plan for the second dwelling (3700 SF).
- Colonial style home built in 1910.
- First floor bedroom for added convenience.
Local 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 | $170.9k | $46.20 |
| − Vacancy | −$6.5k | −$1.76 |
| EGI | $164.4k | $44.44 |
| − OpEx | −$74.0k | −$20.00 |
| NOI | $90.4k | $24.44 |
3,700 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,444 @ 7.0% cap · market cap 9.14%
Second Best
Multifamily LT 5
$874.9K
$765.5K – $1.02M
NOI $61,241 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$2.73M
$2.39M – $3.18M
NOI $190,938 @ 7.0% cap · market cap 19.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Legal two-dwelling duplex in good condition, with R4 zoning and an approved plan for a two-unit layout.
Where is this duplex located?
The property is located at 15-07 120th Street College Point, NY.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Legal two‑dwelling property in good condition, with R4 zoning and an approved plan for the second dwelling (3700 SF).; Colonial style home built in 1910.; First floor bedroom for added convenience.
