112-42 38 Avenue, Corona, NY 11368
- $2,880,000
- List Price
- $2,880,000
- Status
- ACTIVE
- MLS#
- 1031301
- Number of Families
- 8
Property Description
Excellent Investment Opportunity Prime location with strong appreciation potential as the nearby casino development moves forward. All units rented at market rates. Property Details Lot Size: 25’ × 100’ Building Size: 25’ × 51’ (Approx. 5,294 SF) Built in 2018 Zoning: R6 Unit Mix 6 Two-Bedroom / One-Bath units 2 One-Bedroom / One-Bath units A neighboring building with the same layout has already been converted into 8 individual condominium units, generating an estimated $3 million in net profit. Separate Utilities 8 Water Meters 8 Gas Meters 9 Electric Meters 8 Heating Systems 8 Hot Water Heaters Investment Highlights Fully occupied with excellent tenants Rent receipts available (no written leases) Potential for future rent increases Annual Gross Income: Approx. $210,000 Estimated Cap Rate: 5% – 6% Outstanding Location Just a 2-block walk to the bustling Roosevelt Avenue / 7 Train station. Close to supermarkets, restaurants, Citi Field, and numerous neighborhood amenities.
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Additional Information
- Lot Size
- 2500
- Basement
- Partial
- Finished Basement
- P
- Driveway
- N
- Year Built
- 2018
- School District
- Contact Agent
- Taxes
- $44,424
- Heating
- Natural Gas
- Parking
- None
- Water
- Public
- Sewer
- Public Sewer
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Listing courtesy of Listing Agent: Fenger Zou (cocozfe@hotmail.com) from Listing Office: E Realty International Corp.
Listings courtesy of OneKey® MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of . 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.