Detached Two-Family
For Sale
$1,398,000
Pending
103-22 123rd Street, Richmond Hill, NY 11419
The first-floor residence has three bedrooms; the upper apartment offers four bedrooms and a private balcony.
Property Size2,640 SF
Lot Size0.09 Acres
Days on Market10
Property Features for 103-22 123rd Street
General Information
Standard status
Pending
Size
2,640 SF
Lot size
0.09 Acres
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,983
Amenities
Finished,Full
3
Yes
10
Eat-in Kitchen
Finished, Full
Public
No
Driveway, Garage
2640
Building Details
Building Size
2,640 SF
Year Built
1915
Buildings
1
Listing Agency:
Mitra Hakimi Realty Group LLC
(516) 703-2918
Listed By:
Amandeep Kakar
Source:
Hedgestonehomes
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 9:18AM
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 Mitra Hakimi Realty Group LLC
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Investment Insights
Based on property information with market context.
This detached two-family home has separate first- and second-floor apartments. The first-floor unit includes three bedrooms, an eat-in kitchen, a full bathroom, a living room, and a front porch, with approximately 1,019 square feet of living space. The second-floor unit provides four bedrooms, an eat-in kitchen, a full bathroom, a living room, and a private balcony across approximately 1,106 square feet. A third floor adds three bedrooms, a sitting area, and a full bathroom, totaling approximately 814 square feet. The finished basement contains a recreation room, two additional rooms, a full bathroom, and a dedicated boiler area, within approximately 813 square feet.
Outdoor features include a front yard, a backyard, a two-car garage, and a driveway that accommodates multiple vehicles. The property is near subway and bus service, houses of worship, and the Liberty Avenue shopping corridor in Richmond Hill.
Outdoor features include a front yard, a backyard, a two-car garage, and a driveway that accommodates multiple vehicles. The property is near subway and bus service, houses of worship, and the Liberty Avenue shopping corridor in Richmond Hill.
Key Highlights
- Detached two‑family home with separate first- and second‑floor apartments
- First‑floor apartment: three bedrooms and approximately 1,019 square feet
- Second‑floor apartment: four bedrooms, private balcony, and approximately 1,106 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,533
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,290,660
$1.3M
Cap Rate 7%
$921,900
$921.9K
Cap Rate 9%
$717,033
$717.0K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$122.0K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$117.3K $44.44/SF
− OpEx
−$52.8K −$20.00/SF
NOI
$64.5K $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%
$1,290,660
Cap Rate 7%
$921,900
Cap Rate 9%
$717,033
Alternative Uses
Best Use
Apartment 5plus
$921.9K
$806.7K – $1.08M
NOI $64,533 @ 7.0% cap · market cap 4.62%
Second Best
Multifamily LT 5
$624.2K
$546.2K – $728.3K
NOI $43,696 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,237 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,918
Businesses Nearby
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Business Placement
Demographics for 11419, NY
47,430
Population
13,607
Households
3.5
Avg Household Size
39
Median Age
21%
College-Educated
73%
High-School Grad
1.1 sq mi
ZIP Area
43,118
Density / Sq Mi
$91,231
Median Household Income
$41,091
Median Earnings
$1,920
Median Rent
$678,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The first-floor residence has three bedrooms; the upper apartment offers four bedrooms and a private balcony.
Where is this duplex located?
The property is located at 103-22 123rd Street Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,398,000.
What are key features of this property?
This property features: Detached two‑family home with separate first- and second‑floor apartments; First‑floor apartment: three bedrooms and approximately 1,019 square feet; Second‑floor apartment: four bedrooms, private balcony, and approximately 1,106 square feet
