8732 114th Street

Richmond Hill, NY 11418

Updated Cap Rate Calculation Annual Gross Income: $125,741 Annual Operating 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 highly desirable Richmond Hill neighborhood of Queens. This well-maintained six-unit multifamily building offers approximately 4,800 square feet of living space across three stories on a 0.06-acre lot. Built in 1930 and zoned R4A, the property produces an annual gross income of $125,741 and a net operating income of $79,254, resulting in an attractive 6.10% cap rate at the asking price. The building offers stable cash flow with strong upside potential and is ideally positioned in a high-demand rental market. Conveniently located near public transportation, shopping, schools, parks, and major highways, this turnkey asset presents an outstanding opportunity for investors seeking consistent income and long-term appreciation in one of Queens' most established neighborhoods.

Listing courtesy of Elite Realty of USA Inc bob4homes@yahoo.com


Based on information submitted to the MLS GRID as of 2026-09-12 11:49 PM EDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.