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$ 1,388,888
Est. payment /mo
Active
23-40 124th ST Queens, NY 11356
4 Beds
3 Baths
2,178 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,178 sqft
Price per Sqft $637
MLS Listing ID 500600
Style Colonial
Bedrooms 4
Full Baths 2
Half Baths 1
Year Built 1920
Annual Tax Amount $6,444
Property Sub-Type Multi-Family
Property Description
Two family residence in need of updating, offering a strong value-add opportunity for qualified builders and developers to reposition or redevelop a property to its highest and best use. Situated on a 48' x 100' lot, the property includes a detached two car garage, an increasingly rare and valuable feature in the area. The home is underbuilt relative to current allowable residential FAR under R4A zoning, presenting meaningful potential for expansion or redevelopment. There may be opportunities to explore reconfiguration, enlargement, or the addition of an internal or external Accessory Dwelling Unit (ADU) subject to buyer due diligence and all required approvals. Located on a quiet residential block, the property is close to local shopping, schools, parks, and transportation, supporting long term resale or rental demand once improved. The home is currently tenant occupied but expected to be delivered vacant, allowing buyers to proceed with renovation or construction plans following closing, subject to confirmation. An excellent opportunity for builders or developers seeking a true value add project in an established neighborhood, with the ability to redesign layouts, modernize systems, and potentially enhance upon completion, subject to renovation scope and approvals. All information is deemed reliable but not guaranteed. Prospective purchasers must perform their own due diligence and independently verify all information. Bring your architect, contractor, and vision—projects with this lot size, zoning profile, and upside are increasingly difficult to find.
Location
State NY
County Queens
Area College Point
Zoning R4A
Rooms
Basement Unfinished
Interior
Hot Water Gas
Heating Oil
Flooring Hardwood, Tile
Heat Source Oil
Exterior
Exterior Feature Aluminum Siding
Amenities Available NONE
Roof Type Pitched,Shingle
Handicap Access No
Building
Story 2
Foundation Poured Concrete
Others
Energy Description Oil
Financing Bank Mortgage,Cash
Listed by Robert Defalco Realty
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