38-11 111th St - Apartments FOR SALE


Corona, NY 11368- North Corona
$2,550,000 USD
917-575-1188
38-11 111th St, Corona, NY for Sale
$2,550,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

38-11 111th St
Corona, NY 11368
North Corona


OVERVIEW

Presenting a rare investment opportunity in the heart of Corona, Queens: a well-maintained 6-family building offered at $2,550,000. Built in 2004, this asset spans approximately 5,515 square feet on a 3,688 square foot lot. Fully leased at present, the property boasts a solid rent roll of approximately $13,370 per month, supplemented by additional income from basement and ancillary space. The property features six gas meters, seven electric meters, and a fully finished basement, ensuring operational efficiency and income diversification. Exterior amenities include front and rear balconies, backyard space, and on-site parking for three vehicles. Situated just one block from the 7 Train, it offers unmatched tenant convenience for commuting across Queens and into Manhattan. Surrounded by strong neighborhood amenities, retail, and cultural destinations, the address lies in an R5 zoning district, supporting long-term stability and potential development flexibility. With annual property taxes exceptionally low at approximately $1,380 due to an existing tax abatement (buyer to verify terms), this investment offers impressive downside protection and strong yield dynamics for seasoned investors seeking cash flow and long-term capital appreciation in a high-demand market.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$462 USD /SF

# OF UNITS

6

PRICE/UNIT

$425,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2004

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,729 SF

ZONING

R5

APN/PARCEL ID

01783-0007

ASK ABOUT THIS PROPERTY

Shan WangCity Advance RealtyMore Info
917-575-1188

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Shan WangCity Advance RealtyMore Info
917-575-1188

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