Six-Unit Apartment
22-08 120th Street, Queens, NY 11356
For Sale
$1,680,000
Residential, Ranch, Queens, NY
Property Size4,300 SF
Lot Size0.11 Acres
Price / SF$390.70
Days on Market303
Property Features for 22-08 120th Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Interior features
Fireplace
Basement
Subdivision
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Amenities
hardwood floors
tiled kitchens
tiled bathrooms
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Buildings
Listing Agency:
RE/MAX Edge · RE/MAX International
Listed By:
Sumei Lan · License NY SL4755
(718) 612-3088
Added: Jan 15
Changed: Oct 29
Last Checked: Nov 13 at 11:06PM
MLS# 498394
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This detached brick apartment building contains six units within approximately 4,300 square feet on a 0.1148-acre lot. Each apartment is arranged in a railroad-style plan with two bedrooms and one bathroom. Five units have been recently renovated, while common interior features include hardwood flooring, tiled kitchens, tiled bathrooms, and abundant window light. The property also includes a new electrical system, rubber roof, fireplaces, and in-unit appliances. Built in 1931, the building is located in College Point, Queens, and is zoned R4A.
A fenced private driveway provides approximately 10 on-site parking spaces. The property is near Flushing Point Marina and Skyline Sports Club, with access to the Q65 MTA bus line. The offering carries an approximate 6% capitalization rate and may provide 2–3 vacant units upon closing.
A fenced private driveway provides approximately 10 on-site parking spaces. The property is near Flushing Point Marina and Skyline Sports Club, with access to the Q65 MTA bus line. The offering carries an approximate 6% capitalization rate and may provide 2–3 vacant units upon closing.
Key Highlights
- Six‑unit apartment building with two bedrooms and one bathroom per unit
- Approximately 4,300 square feet on a 0.1148‑acre lot
- Five units recently renovated; all units feature hardwood floors and tiled kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,111
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,102,220
$2.1M
Cap Rate 7%
$1,501,586
$1.5M
Cap Rate 9%
$1,167,900
$1.2M
Market Conditions
NOI Build-Up for 4,300 SF
Gross rent
$198.7K $46.20/SF
− Vacancy
−$7.5K −$1.76/SF
EGI
$191.1K $44.44/SF
− OpEx
−$86.0K −$20.00/SF
NOI
$105.1K $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%
$2,102,220
Cap Rate 7%
$1,501,586
Cap Rate 9%
$1,167,900
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $105,111 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.17M
$2.77M – $3.70M
NOI $221,901 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,756
Businesses Nearby
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Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
Median Home Value
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Market
Properties on Market for Apartment buildings in Queens
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Detached brick multifamily property with renovated units, updated electrical service, and a fenced private driveway.
Where is this apartment building located?
The property is located at 22-08 120th Street Queens, NY.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: Six‑unit apartment building with two bedrooms and one bathroom per unit; Approximately 4,300 square feet on a 0.1148‑acre lot; Five units recently renovated; all units feature hardwood floors and tiled kitchens and bathrooms
