Two-Family Duplex with
2518 123rd Street, Flushing, NY 11354
For Sale
$1,190,000
Semi-detached duplex with separate laundry, private parking, and access to Q25 and Q26 bus service.
Property Size2,052 SF
Lot Size0.10 Acres
Days on Market49
Property Features for 2518 123rd Street
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
backyard
in-unit washer/dryer
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
City Realty Group
Listed By:
Emmy D. Cai CBR · License #10311207995
(646) 805-8688
Source:
Serhant
Added: Sep 21
Changed: Nov 6
Last Checked: Nov 6 at 5:29PM
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 City Realty Group
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Investment Insights
Based on property information with market context.
This legal two-family duplex at 2518 123rd Street in Flushing, NY, was built in 1950 and offers two distinct residential layouts. The first-floor residence includes three bedrooms and one bath, while the upper residence provides three bedrooms and two full baths. Each level has its own washer and dryer, supporting independent household use.
The property occupies a 4,240-square-foot lot, with a 22-by-48-foot building footprint. Exterior features include a private 40-by-50-foot parking area accommodating five or more vehicles and a 25-by-35-foot backyard suitable for garden or outdoor use. Q25 and Q26 bus stops are located just steps away, with service connecting to Main Street’s 7 train.
The property occupies a 4,240-square-foot lot, with a 22-by-48-foot building footprint. Exterior features include a private 40-by-50-foot parking area accommodating five or more vehicles and a 25-by-35-foot backyard suitable for garden or outdoor use. Q25 and Q26 bus stops are located just steps away, with service connecting to Main Street’s 7 train.
Key Highlights
- Legal two‑family duplex with 3‑bedroom layouts on both levels
- First floor includes 1 bath; second floor includes 2 full baths
- Separate washer and dryer provided on each floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,160
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,003,200
$1.0M
Cap Rate 7%
$716,571
$716.6K
Cap Rate 9%
$557,333
$557.3K
Market Conditions
NOI Build-Up for 2,052 SF
Gross rent
$94.8K $46.20/SF
− Vacancy
−$3.6K −$1.76/SF
EGI
$91.2K $44.44/SF
− OpEx
−$41.0K −$20.00/SF
NOI
$50.2K $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%
$1,003,200
Cap Rate 7%
$716,571
Cap Rate 9%
$557,333
Alternative Uses
Best Use
Apartment 5plus
$716.6K
$627.0K – $836.0K
NOI $50,160 @ 7.0% cap · market cap 4.22%
Second Best
Multifamily LT 5
$485.2K
$424.6K – $566.1K
NOI $33,964 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,893 @ 7.0% cap · market cap 8.90%
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
1,726
Businesses Nearby
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Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
Median Home Value
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Market
Properties on Market for Duplexes in Flushing
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Semi-detached duplex with separate laundry, private parking, and access to Q25 and Q26 bus service.
Where is this duplex located?
The property is located at 2518 123rd Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Legal two‑family duplex with 3‑bedroom layouts on both levels; First floor includes 1 bath; second floor includes 2 full baths; Separate washer and dryer provided on each floor
