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

• 4 beds |
• 3 baths |
• 2,178 sqft

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.

Listing Status:

Active

Data Last Updated:

April 30, 2026 at 6:20PM

Listing Office:

Robert DeFalco Realty Inc : 718-987-7900

MLS ID:

986850

Interior

• General: Original Details
• Appliances: Gas RangeRefrigerator
• Basement: Unfinished
• A/C: Multi Units
• Heating: Hot Water

Exterior

• Style: Colonial
• Parking: CarportDrivewayGarageOff StreetOn Street

Location

• Originating MLS: onekey2
• School District: Contact Agent
• County: Queens

Lot

• Zoning: 4227-0044

Utilities

• Utilities: Electricity ConnectedNatural Gas Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2