2-Unit Brick
87-36 123rd St, Richmond Hill, NY 11418
For Sale
$850,000
Each residence has independent heating, hot water, gas, and electric service.
Property Size1,876 SF
Price / SF$453.09
Days on Market25
Property Features for 87-36 123rd St
General Information
Standard status
Size
Property subtype
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Public Transit
Amenities
covered front porch
full finished basement
rear parking
Building Details
Year Built
Buildings
Construction
Listing Agency:
RE/MAX Edge
Listed By:
Zaiyou Zhu · License #10401312891
(718) 288-3835
Source:
Searchhomesinlongisland
Added: Oct 14
Changed: Nov 7
Last Checked: Nov 7 at 5:58PM
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 RE/MAX Edge
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Investment Insights
Based on property information with market context.
This 1,876-square-foot, semi-detached brick duplex contains five bedrooms and three full bathrooms across two residences. Both units have eat-in kitchens, open living and dining areas, and tiled bathrooms. One apartment has been refreshed with new gray plank flooring and paint. Separate boilers, hot water heaters, and gas and electric meters serve the individual units. The property also includes a finished basement with an exterior entrance and a covered porch.
The home is about a block from Jamaica Avenue and the J/Z train at 121st Street, with shops and restaurants nearby. Rear parking is reached through an adjoining property.
The home is about a block from Jamaica Avenue and the J/Z train at 121st Street, with shops and restaurants nearby. Rear parking is reached through an adjoining property.
Key Highlights
- Two residences with 1,876 sq ft, 5 bedrooms, and 3 full baths
- Semi‑detached brick construction; built in 1910
- Separate boiler, hot water heater, gas meter, and electric meter for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,858
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$917,160
$917.2K
Cap Rate 7%
$655,114
$655.1K
Cap Rate 9%
$509,533
$509.5K
Market Conditions
NOI Build-Up for 1,876 SF
Gross rent
$86.7K $46.20/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$83.4K $44.44/SF
− OpEx
−$37.5K −$20.00/SF
NOI
$45.9K $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%
$917,160
Cap Rate 7%
$655,114
Cap Rate 9%
$509,533
Alternative Uses
Best Use
Apartment 5plus
$655.1K
$573.2K – $764.3K
NOI $45,858 @ 7.0% cap · market cap 5.40%
Second Best
Multifamily LT 5
$443.6K
$388.1K – $517.5K
NOI $31,051 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,811 @ 7.0% cap · market cap 11.39%
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 11418, NY
37,596
Population
12,072
Households
3.1
Avg Household Size
37
Median Age
32%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
22,115
Density / Sq Mi
$84,927
Median Household Income
$44,818
Median Earnings
$1,788
Median Rent
$772,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Duplexes in Richmond Hill
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has independent heating, hot water, gas, and electric service.
Where is this duplex located?
The property is located at 87-36 123rd St Richmond Hill, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two residences with 1,876 sq ft, 5 bedrooms, and 3 full baths; Semi‑detached brick construction; built in 1910; Separate boiler, hot water heater, gas meter, and electric meter for each unit
