Detached Two-Family
New
For Sale
$1,125,000
85-29 123rd Street, Kew Gardens, NY 11415
Separate living areas across three floors include renovated kitchens, updated bathrooms, a private yard, driveway, and garage.
Property Size1,682 SF
Lot Size0.07 Acres
Price / SF$668.85
Days on Market2
Property Features for 85-29 123rd Street
General Information
Standard status
Active
Size
1,682 SF
Lot size
0.07 Acres
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,526
Amenities
basement
sunroom
brick rear porch
private backyard
hardwood floors
granite countertops
private driveway
garage
Eat-in Kitchen
Building Details
Building Size
1,682 SF
Year Built
1930
Buildings
1
Stories
3
Units
2
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Mitra Hakimi · License #49HA1019118
(718) 268-5588
Source:
Georgemcknight
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 3:16PM
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 Mitra Hakimi Realty Group LLC
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Investment Insights
Based on property information with market context.
Built in 1930, this detached duplex has living areas on the first and second floors, with two additional rooms and a full bathroom on the third. The first floor includes a bedroom, bathroom, sunroom, and renovated eat-in kitchen; the second has two bedrooms, two renovated bathrooms, and another renovated eat-in kitchen. Hardwood flooring runs throughout. An unfinished basement has high ceilings, and the home also includes a brick rear porch and private backyard.
The property occupies a 30x100 lot, with a building size of 19x30, at 85-29 123rd Street in Kew Gardens. A private driveway and garage provide on-site parking.
Improvements include replacement windows in 2012, a front roof in 2013, and new siding, front and rear doors, sidewalk, and stoop in 2015. The boiler, gutters, and leaders were replaced in 2011; other updates include a hot water heater, chimney, and leaf gutter system.
The property occupies a 30x100 lot, with a building size of 19x30, at 85-29 123rd Street in Kew Gardens. A private driveway and garage provide on-site parking.
Improvements include replacement windows in 2012, a front roof in 2013, and new siding, front and rear doors, sidewalk, and stoop in 2015. The boiler, gutters, and leaders were replaced in 2011; other updates include a hot water heater, chimney, and leaf gutter system.
Key Highlights
- Detached two‑family property built in 1930
- 30x100 lot with a 19x30 building
- Three floors of living space, plus an unfinished basement with high ceilings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,116
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$822,320
$822.3K
Cap Rate 7%
$587,371
$587.4K
Cap Rate 9%
$456,844
$456.8K
Market Conditions
NOI Build-Up for 1,682 SF
Gross rent
$77.7K $46.20/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$74.8K $44.44/SF
− OpEx
−$33.6K −$20.00/SF
NOI
$41.1K $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%
$822,320
Cap Rate 7%
$587,371
Cap Rate 9%
$456,844
Alternative Uses
Best Use
Apartment 5plus
$587.4K
$514.0K – $685.3K
NOI $41,116 @ 7.0% cap · market cap 3.65%
Second Best
Multifamily LT 5
$397.7K
$348.0K – $464.0K
NOI $27,840 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,799 @ 7.0% cap · market cap 7.72%
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
3,918
Businesses Nearby
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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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate living areas across three floors include renovated kitchens, updated bathrooms, a private yard, driveway, and garage.
Where is this duplex located?
The property is located at 85-29 123rd Street Kew Gardens, NY.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Detached two‑family property built in 1930; 30x100 lot with a 19x30 building; Three floors of living space, plus an unfinished basement with high ceilings
