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  • 23-40 124th Street
  • $ 1,388,888
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356

23-40 124th Street

College Point   |   23 Ave & 25 Ave

Building For Sale
$ 1,388,888
Ownership Multi-Family
Lot Size 48'x100'
Status Active
Real Estate Taxes [Per Annum] $ 6,444
Building Size 21'x42'
Year Built 1920
ASF/ASM 2,178/202
 

Photos

23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356

Maria Castellano

License Licensed As: Real Estate Broker/Owner

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775
23-40 124th Street College Point Queens NY 11356

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.
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.

Listing Courtesy of Robert Defalco Realty

Maria Castellano

License Licensed As: Real Estate Broker/Owner

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775

Care to take a look at this property?

Apartment Features

Hardwood Floors
23-40 124th Street College Point Queens NY 11356
23-40 124th Street College Point Queens NY 11356

Building Details [23-40 124th Street]

Ownership Multi-Family
Block/Lot 4227/44
Building Size 21'x42'
Zoning R4A
Year Built 1920
Floors 2
Lot Size 48'x100'

Mortgage Calculator in [US Dollars]

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Loan Amount

Maria Castellano

License Licensed As: Real Estate Broker/Owner

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775
BNYMLS All information furnished regarding this or any property listed for sale or rent is gathered from sources deemed reliable. Though we have no reason to doubt the accuracy or validity of this information, we make no warranty or representation as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal without notice. It is strongly recommended that the prospective purchaser or tenant shall carefully review each item of size, dimensions, real estate taxes, expenses, legal use and any other information presented herein.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
MLSID: 500600