Renovated Multifamily Home in
16929 120th Avenue, Jamaica, NY 11434
Renovated multifamily home with versatile living spaces and income potential.
Type:Multi Family
Property size:
2,300 SFLot size:
0.07 AcresPrice / SF:
$477/SF- Added:
- Mar 24, 2026
- Days on Market:
- 55
- Last Refresh:
- Apr 5 at 8:14 pm
Property Features for 16929 120th Avenue
General Information
- Standard status
- Active
- Size
- 2,300 SF
- Lot size
- 0.07 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1986
Listing agent Esaie Jean-Simon
Listing office Revived Residential (929) 379-3750
Listing date Mar 24, 2026
Source Exitrealty
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 Revived Residential
HighLights
- Multi‑family home ideal for rental income or investment in a sought‑after Queens neighborhood.
- First‑floor unit features a large, finished basement with a kitchenette, offering versatile space for entertainment or a home office.
- Recently renovated with modern finishes throughout both units.
- Second‑floor unit boasts 3 large bedrooms, 1.5 bathrooms, a modern kitchen, and a sun‑filled living room.
- Private backyard and off‑street parking with a driveway.
- Convenient location close to schools, parks, shopping, dining, public transportation, and major highways.
Overview
This renovated multifamily home is located in a sought-after Queens neighborhood. The property includes a second-floor unit featuring 3 bedrooms and 1.5 bathrooms, with an open layout that includes a modern kitchen and a sun-filled living room. The first-floor unit offers 3 bedrooms and 2 full bathrooms, complemented by a large, finished basement with a kitchenette. The basement provides space for a variety of uses, such as an entertainment area or a home office. Key features include modern finishes, a private backyard, and off-street parking with a driveway. The property is close to schools, parks, shopping, and dining, with easy access to public transportation and major highways. The property offers flexibility and value for generating rental income or investing in a rapidly growing neighborhood. The property size is 2300 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$624.7K
NOI $56,222 @ 9.00% cap · cautious / downside scenario
Moderate
$803.2K
NOI $56,222 @ 7.00% cap · market / base-case scenario
Aggressive
$1.12M
NOI $56,222 @ 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 | $106.3k | $46.20 |
| − Vacancy | −$4.0k | −$1.76 |
| EGI | $102.2k | $44.44 |
| − OpEx | −$46.0k | −$20.00 |
| NOI | $56.2k | $24.44 |
2,300 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$803.2K
$702.8K – $937.0K
NOI $56,222 @ 7.0% cap · market cap 5.12%
Second Best
Multifamily LT 5
$543.8K
$475.9K – $634.5K
NOI $38,069 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,691 @ 7.0% cap · market cap 10.80%
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
- Jamaica
- County
- Queens
- State
- New York
- Longitude
- -73.775633
- Latitude
- 40.682997
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Renovated multifamily home with versatile living spaces and income potential.
Where is this multifamily property located?
The property is located at 16929 120th Avenue Jamaica, NY.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Multi‑family home ideal for rental income or investment in a sought‑after Queens neighborhood.; First‑floor unit features a large, finished basement with a kitchenette, offering versatile space for entertainment or a home office.; Recently renovated with modern finishes throughout both units.
