8640 123rd Street, Richmond Hill, NY 11418 - Photo 1

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$1,400,000

For Sale
Active
Commercial

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Property Description

Exceptional 6 unit investment in prime Richmond Hill. This rent-stabilized six unit multifamily features six 2-bedroom and 1 bath apartments. The rooms are large and spacious. The roof is less than a year old and in excellent condition. All tenants are current with their rent. Updated electricity and plumbing. This property offers a rare chance with a strong cash flow and significant long-term appreciation potential. Situated near schools, shopping and transportation.

Full Property Details

Full Property Details for 86-40 123rd St

General

Price: $1,400,000
Taxes: $24,738
Status: Active
Type: Commercial
Source: Long_Island
MLS ID: 892533
Updated: 9/26/2025
Added to Site: 180 day(s) ago

Parking

Parking Features: None

Location

County: Queens
Cross Streets: 86th Avenue

School Information

High School District: Queens 27

Heating & Cooling

Cooling Type: Wall/Window Unit(s)
Heating Type: Baseboard, Natural Gas

Utilities

Sewer: Public Sewer
Water: Public
Utility Description: See Remarks

Structural Information

Detached/Attached: Attached
Construction: Brick
Basement: Yes
Basement Desc.: Full Basement
Stories/Levels: 3
Stories in Building: 3
Building Size: 4320
Square Feet: 4,320
Year Built: 1931

Lot Features

Lot Size (Acres): 0.0821
Lot Size (Sq. Ft.): 3,578

Financial Considerations

Tax Amount: $24,738.96
Tenant Pays: Electricity, Gas

Disclosures and Reports

Special Conditions: None
Property ID: 09276-0080

Listed by North East Queens Realty Corp

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Listing agents

— 86-40 123rd St —

North East Queens Realty Corp
North East Queens Realty Corp

516-498-1110

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NMLS#: 1598647

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Schools

Schools serving 86-40 123rd St

School District:New York City Geographic School District 27

Name	Grades	Distance
Ps 51 87-45 117th St, Queens, NY 11418	K-1	0.3 mi
Ps 56 Harry Eichler 86-10 114th St, Queens, NY 11418	2-5	0.4 mi
Ms 137 America S School Of Heroes 109-15 98th St, Queens, NY 11417	6-8	1.7 mi
Richmond Hill High School 89-30 114th St, Queens, NY 11418	9-12	0.5 mi

Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 86-40 123rd St Get Price Alerts and Save Property

Date

Details

Price

Change

Source

9/26/2025

Price Reduced

$1,400,000

-12.45%

MLS

7/22/2025

Listed

$1,599,000

77.67%

MLS

9/28/2023

Sold

$900,000

—

Public Record

Get Price Alerts and Save Property

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History

Tax History for 86-40 123rd St

Year

Property Taxes

Change

Tax Assessment

Change

2025

$26,714

8%

$213,710

—

2024

$24,739

8%

$214,200

17%

2023

$22,906

10%

$183,222

8%

2022

$20,811

-11%

$169,650

-15%

2021

$23,515

2%

$199,350

—

2020

$23,163

—

$199,350

-20%

2019

$23,156

14%

$249,120

45%

2017

$20,255

—

$171,947

8%

2017

$20,255

7%

$159,250

8%

2016

$19,010

3%

$147,455

3%

2015

$18,403

27%

$142,847

—

2014

$14,449

-12%

$142,808

8%

2013

$16,455

—

$132,267

—

View All

Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost

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8640 123rd Street, Richmond Hill, NY 11418 (MLS# 892533) is a Commercial property. 8640 123rd Street is currently listed for $1,400,000 and was received on July 22, 2025. Want to learn more about 8640 123rd Street? Do you have questions about finding other Commercial real estate for sale in Richmond Hill? You can browse all Richmond Hill real estate or contact a Coldwell Banker agent to request more information.

86-40 123rd St Richmond Hill, NY 11418