Duplex with Private
For Sale
$1,428,818
Pending
23-37 124th Street, College Point, NY 11356
The two-family residence includes five bedrooms, a finished basement, a garage, and outdoor space with a pool.
Property Size1,800 SF
Lot Size0.07 Acres
Days on Market9
Property Features for 23-37 124th Street
General Information
Standard status
Pending
Size
1,800 SF
Total Parking Spaces
5
Lot size
0.07 Acres
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,765
Amenities
above ground pool
BBQ areas
Finished,Full
2
Yes
5
First Floor Bedroom
Finished, Full
Public
No
Driveway, Private
1800
Building Details
Building Size
1,800 SF
Year Built
1920
Buildings
1
Listing Agency:
Mottola Real Estate LLC
(516) 703-2918
Listed By:
Barbara Murray
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:32PM
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 Mottola Real Estate LLC
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Investment Insights
Based on property information with market context.
This detached two-family home has five bedrooms and a full finished basement. The building measures 20 by 45 feet on a 3,100-square-foot lot. A private driveway and garage provide parking for four to five cars. Outdoor features include a backyard, above-ground pool, lawn, and barbecue areas.
Located in College Point, the property is near College Point Shopping Center and offers access to express buses serving Flushing and Main Street. Citi Field, LaGuardia Airport, the Tri-Borough Bridge, and the Throgs Neck Bridge are also noted nearby. The home was built in 1920 and has an updated roof, a new water tank, maintained heating and electrical systems, and siding covered by a transferable lifetime warranty.
Located in College Point, the property is near College Point Shopping Center and offers access to express buses serving Flushing and Main Street. Citi Field, LaGuardia Airport, the Tri-Borough Bridge, and the Throgs Neck Bridge are also noted nearby. The home was built in 1920 and has an updated roof, a new water tank, maintained heating and electrical systems, and siding covered by a transferable lifetime warranty.
Key Highlights
- Two‑family detached home with five bedrooms and a full finished basement
- 20‑by‑45‑foot building on a 3,100‑square‑foot lot
- Private driveway and garage; parking for 4‑5 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,000
Cap Rate
3.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,000
$880.0K
Cap Rate 7%
$628,571
$628.6K
Cap Rate 9%
$488,889
$488.9K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$83.2K $46.20/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$80.0K $44.44/SF
− OpEx
−$36.0K −$20.00/SF
NOI
$44.0K $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%
$880,000
Cap Rate 7%
$628,571
Cap Rate 9%
$488,889
Alternative Uses
Best Use
Apartment 5plus
$628.6K
$550.0K – $733.3K
NOI $44,000 @ 7.0% cap · market cap 3.08%
Second Best
Multifamily LT 5
$425.6K
$372.4K – $496.6K
NOI $29,793 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,889 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
981
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two-family residence includes five bedrooms, a finished basement, a garage, and outdoor space with a pool.
Where is this duplex located?
The property is located at 23-37 124th Street College Point, NY.
What is the asking price?
The asking price for this property is $1,428,818.
What are key features of this property?
This property features: Two‑family detached home with five bedrooms and a full finished basement; 20‑by‑45‑foot building on a 3,100‑square‑foot lot; Private driveway and garage; parking for 4‑5 cars
