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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1008554
Style Mid Rise
Rental Info No
Year Built 1931
Annual Tax Amount $21,372
Property Sub-Type Multi Family
Source onekey2
Property Description
Prime Corona Investment Opportunity: Located in the heart of Corona, Queens, 99-11 42nd Avenue is a well-maintained, cash-flowing 6-family brick building perfect for savvy investors looking to maximize cash flow or execute a seamless 1031 exchange. The property features six residential units, consisting of five spacious 2-bedroom apartments and one comfortable 1-bedroom apartment, all configured with efficient, tenant-friendly layouts. Landlord overhead is kept low thanks to a total of 7 electric and 7 gas meters, providing separate utility ( cooking gas and Electric) setups for each individual unit so tenants pay their own expenses. The location is extremely convenient, situated just blocks from the 103rd St-Corona Plaza 7-train subway station, which offers a seamless commute directly into Midtown Manhattan and Long Island City. It's located in close proximity to a vibrant mix of local shopping, diverse dining options, community parks, and essential services ensuring a strong rental demand, making this a phenomenal income-generating asset to add to your real estate portfolio. With a gross annual revenue of $113,486 and a NOI of $62,982 after all expenses, this investment will allow you to cash flow immediately.
Location
State NY
County Queens
Rooms
Basement Full, Partially Finished
Interior
Heating Oil
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features None
Utilities Available Electricity Connected, Natural Gas Connected
Building
Story 3
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Ps 19 Marino Jeantet
High Schools Queens24
School District Queens24
Others
Special Listing Condition None
Listed by Keller Williams Landmark II • George C. Arnaudov
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