5626-5628 Van Cleef St Multi-Family FOR SALE


Corona, NY
$3,490,000 USD
917-902-3898
, Corona, NY for Sale
$3,490,000 USD
Multi-Family - FOR SALE
1/7
null | 7.2% Cap Rate

5626-5628 Van Cleef St
Corona, NY


HIGHLIGHTS

  • High Quality Construction - Steel and Concrete Framing, Long Term Durability& Reduced Maintenance Exposure, Sprinkler System Throughout
  • Stable Income and Growth - Fully Leased 13 RS Units providing Consistent Income, and One Owner Duplex offering Additional Upside
  • Prime Location and Strong Tenant Demand - Highly Accessible and Vibrant Neighborhood, Maintaining a Fully Occupied Status
  • Minimum Maintenance- All Meters are Separated, Tenants Pay and Control their Electricity, Heat and Hot Water, minimizing Landlord Expense

OVERVIEW

This offering presents a compelling opportunity to acquire two adjacent seven-family walk-up buildings located at 5626–5628 Van Cleef Street in the fast growing Corona neighborhood of Queens. Built in 2007, the property consists of 14 total residential units across approximately 11,920 square feet, situated on a combined lot measuring 50 by 100 feet. The asset benefits from R6B zoning and features modern, fireproof construction with steel and concrete framing, ensuring long-term durability and reduced maintenance exposure. The unit mix includes 13 rent-stabilized apartments that are fully leased, providing consistent and reliable income, along with one free-market owner’s duplex unit offering additional upside or end-user flexibility. The property is currently generating strong annual gross income supported by stable tenancy and zero vacancy, reflecting high demand in this well-connected and vibrant residential area. Each building is thoughtfully designed with tenant convenience and operational efficiency in mind. Separate metering allows tenants to pay for their own electricity, heat, and hot water, minimizing landlord expenses. Both buildings include finished basements equipped with fire sprinkler systems, and the property is further enhanced by an updated rubber roof and on-site laundry facilities, contributing additional income. Interior finishes are of high quality, with granite kitchen countertops and flooring, as well as granite bathroom floors throughout, underscoring the overall standard of construction. With a low annual tax burden and minimal ongoing maintenance requirements, this asset delivers strong net operating income and an attractive cap rate. This is an ideal investment for buyers seeking stable cash flow, modern construction, and long-term appreciation in a prime Queens location.

ASK ABOUT THIS PROPERTY

Derek ZhengLin Pan Realty GroupMore Info
917-902-3898

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Derek ZhengLin Pan Realty GroupMore Info
917-902-3898

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