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23-40 124th Street, 
Queens, NY 11356

$1,250,000


4

Beds


3

Baths


2,178

Sq Ft


Multi-Family


Virtual Tour

Pending

Listed by

Pamela Fulfrost

Robert Defalco Realty, Inc.

718-987-7900

Last updated:

September 18, 2026, 07:52 AM

MLS#

2602035

Source:

NY SIBOR

About This Home

23-40 124th Street

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.

Home Facts

Multi-Family

3 Baths

4 Bedrooms

Built in 1920

Price Summary

1,250,000

$573 per Sq. Ft.

MLS #:

2602035

Last Updated:

September 18, 2026, 07:52 AM

Added:

5 month(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

4

Bathrooms

Total Bathrooms:

3

Full Bathrooms:

2

Interior

Living Area:

2,178 Sq. Ft.


Structure

Structure

Architectural Style:

Colonial

Building Area:

2,178 Sq. Ft.

Year Built:

1920


Lot

Lot Size (Sq. Ft):

4,800


Finances & Disclosures

Finances

Price:

$1,250,000

Price per Sq. Ft:

$573 per Sq. Ft.

Source:NY SIBOR
This information has been obtained from sources believed to be reliable, but no representations or warranties, expressed or implied, as to the accuracy of the information are being made by Ithaca Board of REALTORS® or Coldwell Banker Advantage. Anyone using this information without independently verifying its accuracy bears all risk for any inaccuracies.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.