14
See all 14 photos
$1,588,888
Est. payment /mo
2,243 Sqft Lot
New
9440 121st ST Richmond Hill S., NY 11419
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 916565
Rental Info No
Year Built 1988
Annual Tax Amount $9,500
Lot Size 2,243 Sqft
Acres 0.0515
Property Sub-Type Triplex
Source onekey2
Property Description
Introducing a rare investment opportunity in the heart of South Richmond Hill — an all-brick, legal 3-family residence situated in one of Queens' most dynamic and fast-appreciating neighborhoods. South Richmond Hill has been experiencing a surge in property development, with values steadily climbing and rental demand consistently outpacing supply. This property offers investors both immediate cash flow and long-term equity growth in a thriving market.
The building spans approximately 2,500 sq ft and delivers a strong, reliable rent roll of over $11,000 per month (annual gross income of roughly $132,000). Each of the three floors features a minimum of 4 bedrooms and 2 bathrooms, along with spacious living areas and kitchens, making them highly attractive for families and long-term tenants. Adding to the value, the basement is fully finished with its own private entrance, providing excellent flexibility for storage, recreation, or additional income potential.
Stability is already in place: the current tenants have occupied the property for over a decade, all pay on time, and receipts are available for verification. This ensures an investor steps into a turnkey scenario with zero downtime or tenant concerns. Brick construction keeps maintenance costs low, while the presence of a private garage — rare for the area — plus an additional outdoor parking space, further enhances the property's appeal and functionality.
Location is unbeatable. The home is just minutes from major highways, multiple public transportation options including trains, and an array of local shopping, dining, and community amenities. South Richmond Hill is a lively, diverse neighborhood that continues to attract families and working professionals seeking quality housing. Demand for rental units here remains exceptionally strong, giving an investor confidence in consistent occupancy and income.
This is not just another multifamily — it is a prime cash-flowing asset with stable tenants, minimal upkeep, and significant appreciation upside. Whether you are a seasoned investor looking to expand your portfolio with a dependable earner, or a first-time buyer seeking a property that pays for itself, 94-40 121st Street offers the ideal combination of income, stability, and growth in one of Queens' most promising investment corridors.
The building spans approximately 2,500 sq ft and delivers a strong, reliable rent roll of over $11,000 per month (annual gross income of roughly $132,000). Each of the three floors features a minimum of 4 bedrooms and 2 bathrooms, along with spacious living areas and kitchens, making them highly attractive for families and long-term tenants. Adding to the value, the basement is fully finished with its own private entrance, providing excellent flexibility for storage, recreation, or additional income potential.
Stability is already in place: the current tenants have occupied the property for over a decade, all pay on time, and receipts are available for verification. This ensures an investor steps into a turnkey scenario with zero downtime or tenant concerns. Brick construction keeps maintenance costs low, while the presence of a private garage — rare for the area — plus an additional outdoor parking space, further enhances the property's appeal and functionality.
Location is unbeatable. The home is just minutes from major highways, multiple public transportation options including trains, and an array of local shopping, dining, and community amenities. South Richmond Hill is a lively, diverse neighborhood that continues to attract families and working professionals seeking quality housing. Demand for rental units here remains exceptionally strong, giving an investor confidence in consistent occupancy and income.
This is not just another multifamily — it is a prime cash-flowing asset with stable tenants, minimal upkeep, and significant appreciation upside. Whether you are a seasoned investor looking to expand your portfolio with a dependable earner, or a first-time buyer seeking a property that pays for itself, 94-40 121st Street offers the ideal combination of income, stability, and growth in one of Queens' most promising investment corridors.
Location
State NY
County Queens
Rooms
Basement Finished
Interior
Interior Features First Floor Bedroom, First Floor Full Bath
Heating Baseboard
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Attached
Garage Spaces 1.0
Utilities Available Electricity Connected, Natural Gas Connected
Garage true
Private Pool No
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Ps 161 Arthur Ashe School
Middle Schools Catherine & Count Basie Ms 72
High Schools Queens 28
School District Queens 28
Others
Senior Community No
Special Listing Condition None
Listed by Property Professionals Realty • Harnoor Bhullar AHWD MRP
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