Jeffrey Farnell - Smitchger Realty Logo
$1,299,000
( $270.63Per Sq Foot )
 $6,973 est/mo Sourced by Back At You

8732 114th Street,Richmond Hill, NY 11418

Richmond Hill, NY 11418

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Description

Updated Cap Rate CalculationAnnual Gross Income: $125,741Annual Operating Expenses: $46,487Net Operating Income (NOI): $79,254Asking Price: $1,299,000Cap Rate = NOI ÷ Purchase Price × 100$79,254 ÷ $1,299,000 = 6.10% Cap Rate Property RemarksExceptional investment opportunity in the highly desirable Richmond Hill neighborhood of Queens. This well-maintained six-unit multifamily building offers approximately 4,800 square feet of living space across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property produces an annual gross income of $125,741 and a net operating income of $79,254, resulting in an attractive 6.10% cap rate at the asking price.The building offers stable cash flow with strong upside potential and is ideally positioned in a high-demand rental market. Conveniently located near public transportation, shopping, schools, parks, and major highways, this turnkey asset presents an outstanding opportunity for investors seeking consistent income and long-term appreciation in one of Queens' most established neighborhoods.

Details

MLS #1016032
Listing TypeFor Sale
StyleMulti-Family
Sub-TypeResale
StatusActive
Year1930
Days On Site66
Listing Provided ByElite Realty of USA Inc | Chandar Persaud

Features

SQ Feet4,800
BasementY
Units6
ZoningR4A
Acreage0.06

Interior

CoolingNone
HeatingOil

Exterior

Construction MaterialsBrick

Parking

Parking FeaturesOn Street

Utilities

UtilitiesElectricity Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Available
SewerPublic Sewer

Taxes

Tax Year2025
Tax Assessed Value289800
Tax Annual Amount24233.64

Area Information

StateNY
CountyQueens
CityRichmond Hill
Zip Code11418
Listing VS Median (in 11418)
Price:
$1,299,000
low | high
Med:
$985,000
74.172440338722% of Average
sqft:
4,800
low | high
Med:
1,656
100% of Average
$ / sqft:
$271
low | high
Med:
$595
69.790028003704% of Average
On site:
66
low | high
Med:
76
86.842105263158% of Average
Sourced by Back At You

Market Activity 11418

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Learn More About This Property

Jeffrey Farnell

Jeffrey Farnell

John J Lease REALTORS

GRI (914) 850-1257jeffreygfarnell@yahoo.com
StateNY
CountyQueens
CityRichmond Hill
Zip Code11418
Listing VS Median (in 11418)
Price:
$1,299,000
low | high
Med:
$985,000
74.172440338722% of Average
sqft:
4,800
low | high
Med:
1,656
100% of Average
$ / sqft:
$271
low | high
Med:
$595
69.790028003704% of Average
On site:
66
low | high
Med:
76
86.842105263158% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $974K - $1.623M
sqft: 3,500 - 6,000
Nearby Listings Property ImageNearby Listings Details
11221 Jamaica Avenue Property Photo 1
$1,379,000
11221 Jamaica Avenue
Richmond Hill, NY 11418
87 34 116 Street Property Photo 1
$1,399,000
87 34 116 Street
Richmond Hill, NY 11418
Listing Updated: August 6, 2026 at 10:36:49 AM PDT

Jeffrey Farnell - Smitchger Realty