Two-Unit Duplex with Finished
8424 129th Street, Kew Gardens, NY 11415
For Sale
$999,000
Residential Income, Kew Gardens, NY
Property Size2,010 SF
Lot Size0.06 Acres
Price / SF$497.01
Days on Market51
Property Features for 8424 129th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Interior features
Basement
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
laundry in each unit
backyard with bluestone patio
Building Details
Year built
Number of units
Flooring type
Building materials
Buildings
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Tyler Radford
(516) 670-5567
Added: Sep 20
Changed: Nov 7
Last Checked: Nov 9 at 11:06AM
MLS# 1053111
Copyright © 2026 OneKey MLS. 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 1920-built duplex contains two vacant residential units, each arranged with three bedrooms and one bathroom, within approximately 2,010 square feet of living area. The first-floor unit has an eat-in kitchen with quartz counters and pantry storage, hardwood floors, and a fully finished basement with a separate entrance and an additional bathroom. Laundry is available in each unit. The backyard features a bluestone patio, stone planter bed, and cedar privacy fencing.
The property occupies a 2,500-square-foot lot measuring 25 by 100 feet in Kew Gardens, Queens. Grocery stores, shops, restaurants, and daily services are accessible on foot. E, F, and J subway service, the Long Island Rail Road, and local bus routes are nearby; the LIRR trip to Penn Station is stated as 18 minutes. Forest Park is also nearby.
Building updates include a new boiler in 2026, partial front and rear roof replacement in 2020, and replacement of most plumbing with PVC in 2023.
The property occupies a 2,500-square-foot lot measuring 25 by 100 feet in Kew Gardens, Queens. Grocery stores, shops, restaurants, and daily services are accessible on foot. E, F, and J subway service, the Long Island Rail Road, and local bus routes are nearby; the LIRR trip to Penn Station is stated as 18 minutes. Forest Park is also nearby.
Building updates include a new boiler in 2026, partial front and rear roof replacement in 2020, and replacement of most plumbing with PVC in 2023.
Key Highlights
- Two vacant units, each with 3 bedrooms and 1 bathroom
- Approximately 2,010 sq ft of living space on a 2,500 sq ft lot measuring 25 x 100 ft
- Finished basement with separate entrance and additional bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,669
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$993,380
$993.4K
Cap Rate 7%
$709,557
$709.6K
Cap Rate 9%
$551,878
$551.9K
Market Conditions
NOI Build-Up for 2,010 SF
Gross rent
$77.2K $38.40/SF
− Vacancy
−$6.2K −$3.10/SF
EGI
$71.0K $35.30/SF
− OpEx
−$21.3K −$10.59/SF
NOI
$49.7K $24.71/SF
Area
Queens County, NY
Vacancy
8.07%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$993,380
Cap Rate 7%
$709,557
Cap Rate 9%
$551,878
Alternative Uses
Best Use
Multifamily LT 5
$709.6K
$620.9K – $827.8K
NOI $49,669 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$701.9K
$614.2K – $818.9K
NOI $49,133 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,726 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,685
Businesses Nearby
Explore this area
Business Placement
Demographics for 11415, NY
20,241
Population
9,794
Households
2.1
Avg Household Size
41
Median Age
53%
College-Educated
89%
High-School Grad
0.6 sq mi
ZIP Area
33,735
Density / Sq Mi
$88,632
Median Household Income
$60,950
Median Earnings
$1,909
Median Rent
$367,900
Median Home Value
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Market
Properties on Market for Duplexes in Queens County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two vacant three-bedroom residences are complemented by a finished basement with a separate entrance and additional bathroom.
Where is this duplex located?
The property is located at 8424 129th Street Kew Gardens, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two vacant units, each with 3 bedrooms and 1 bathroom; Approximately 2,010 sq ft of living space on a 2,500 sq ft lot measuring 25 x 100 ft; Finished basement with separate entrance and additional bathroom
