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 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 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.

Property Features

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