23-40 124th Street
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 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.
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,250,000 |
| No. of Units: | 2 |
| Year Built: | 1920 |
| Lot Size: | 2,178.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $625,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 3 |
ID: 3yd-SIMLSNY-2602035
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