23-40 124th Street, Queens, NY 11356 (MLS# 2602035)

23-40 124th Street, Queens, NY 11356

$1,250,000

Virtual Tour

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Property Type: MultiFamily Bedrooms: 4 Baths: 3 Square Footage: 2,178 Lot Size (sq. ft.): 4,800 Status: Active

Current Price: $1,250,000 List Date: 4/16/2026 Last Modified: 5/06/2026

Overview

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 followin ... (Read more)

Listing Details MLS# 2602035

AddressLegal

Street No.: 23-40
Street Name: 124th
Street Suffix: Street
County: Queens
State: NY
Zip Code: 11356
Area Name: Off Island

ContractLocation Information

Marketing/Listing Date: 2026-04-16
Sub-Type: Two Family - Detached
Zoning: R4A
Block: 4227
Lot: 44

General Property Info

Stories: 2
Full Baths: 2
Half Baths: Yes
Total Baths: 3
Year Built: 1920
Year Built Info: Approx
Taxes: 6444
Tax Abated: No
Lot Size SqFt: 4800
Lot Dim: 48x100
Irregular: No
Building SqFt: 2178
# Units: 2
Garage Capacity: 2
No. of Heating Units: Yes
Air Conditioner: Window Unit(s)
Public Remarks: 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 rental income 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.
3/4 Baths: 0

Unit 1

Unit 1 - # Rooms: 6
Unit 1 - # Bedrooms: 2
Unit 1 - # Baths: Yes
Unit 1 - Full Baths: Yes
Unit 1 - Remarks: OWNERS APT.
Unit 1 - Rent/Month: 0
Unit 1 - Stove: Yes

Unit 2

Unit 2 - # Rooms: 5
Unit 2 - # Bedrooms: 2
Unit 2 - # Baths: Yes
Unit 2 - Full Baths: Yes
Unit 2 - Remarks: TENANT APT. UPSTAIRS
Unit 2 - Rent/Month: 0

Appliances

Total # Ranges: 2
Total # Refrigerators: 2

More Information

Address/Legal

Section: N/A
Country: United States
International YN: No

Contract/Location Information

List Price/SqFt: 573.92
CofO: Yes
List Type: Exclusive Right To Sell
REO: No
Owner Finance: No

Sewer

Public Sewer: Yes

Architectural Style

Colonial: Yes

Electric

220: Yes

Levels

Two: Yes

Heat Source

Oil: Yes

Heat System

Hot Water: Yes

Kitchen

Eat In: Yes

Living Room

Separate: Yes

Electric Meters

Individual: Yes

Main Bath

Full Bath: Yes

Gas Meters

Individual: Yes

Basement

Unfinished: Yes

Parking

Driveway: Yes
Gravel: Yes
Off Street: Yes

Garage Location

Detached: Yes

Siding

Aluminum Siding: Yes

Yard

Back Yard: Yes
Side: Yes

Fencing

Back Yard: Yes
Chain Link: Yes
Fenced: Yes

Property Condition

Poor: Yes

Property Features

Unit 1: Unit 1 - Stove Kitchen: Eat In Electric Meters: Individual Living Room: Separate Architectural Style: Colonial Levels: Two Gas Meters: Individual Main Bath: Full Bath Sewer: Public Sewer Electric: 220 Basement: Unfinished Parking: Driveway; Gravel; Off Street Garage Location: Detached Yard: Back Yard; Side Fencing: Back Yard; Chain Link; Fenced Siding: Aluminum Siding Heat Source: Oil Heat System: Hot Water Property Condition: Poor

Documents

Lead Based Paint Disclosure ›

Listing Courtesy of Robert DeFalco Realty, Inc.

Listing data provided courtesy of Staten Island Multiple Listing Service. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.