10430 39th Ave - Apartments FOR SALE


Corona, NY 11368- North Corona
$1,950,000 USD
718-475-4382
10430 39th Ave, Corona, NY for Sale
$1,950,000 USD
Apartments - FOR SALE
1/34
null | 6% Cap Rate

10430 39th Ave
Corona, NY 11368
North Corona


HIGHLIGHTS

  • 100% Free Market - Expired 421A Tax Abatement
  • Good Cause Eviction Exempt (2009 CoO)
  • Below Market Rents
  • Incredible Location - steps from Roosevelt Avenue and 7 Train

OVERVIEW

104-30 39th Avenue is a rare opportunity to acquire a fully free-market, eight-unit multifamily asset in a prime, transit-oriented Queens location, now offered at $1,950,000. The property is being sold by its original developer, who has built more than ten buildings in Corona and whose track record of quality shows throughout this meticulously maintained asset. Built in 2009, the 6,250-square-foot property features six two-bedroom and two one-bedrooms, individually metered for utilities. The 421-A Tax Abatement has fully expired with proper documentation, and the 2009 Certificate of Occupancy places the building outside Good Cause Eviction for more than 30 additional years. The rent roll is clean: zero arrears, with unit 2R delivered vacant and newly renovated.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$312 USD /SF

# OF UNITS

8

PRICE/UNIT

$243,750

CAP RATE

6%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2008

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,168 SF

ZONING

R5A

APN/PARCEL ID

01776-0008

ASK ABOUT THIS PROPERTY

Shaun RineyMarcus & MillichapMore Info
718-475-4382

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Shaun RineyMarcus & MillichapMore Info
718-475-4382

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.