8732 114th Street, Richmond Hill, NY 11418

• 4,800 sqft

Property Description

**Updated Cap Rate Calculation** * Annual Gross Income: **$125,741** * Annual Expenses: **$46,487** * Net Operating Income (NOI): **$79,254** * Asking Price: **$1,299,000** **Cap Rate = NOI ÷ Purchase Price × 100** **$79,254 ÷ $1,299,000 = 6.10% Cap Rate** --- ### Property Remarks Exceptional investment opportunity in the heart of Richmond Hill. This well-maintained 6-unit multifamily apartment building offers approximately 4,800 SF across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property generates strong annual income of $125,741 with a net operating income of $79,254, delivering an attractive **6.10% cap rate** at the asking price. Located in a high-demand rental market with convenient access to transportation, shopping, schools, and major thoroughfares, this asset provides stable cash flow with long-term appreciation potential. Ideal for investors seeking a turnkey income-producing property in a desirable Queens neighborhood.

Listing Status:

Active

Data Last Updated:

June 25, 2026 at 7:22AM

Listing Office:

Elite Realty of USA Inc : 718-551-9800

MLS ID:

1016032

Interior

• Basement: FullUnfinishedWalk-Out Access
• A/C: None
• Heating: Oil

Exterior

• Parking: On Street

Location

• Originating MLS: onekey2
• School District: Queens 27
• County: Queens

Lot

• Zoning: R4A09303-0019

Utilities

• Utilities: Electricity AvailableElectricity ConnectedNatural Gas ConnectedSewer ConnectedWater Available
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2