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34326532
34326533

104-30 39th Avenue, Corona, NY 11368 For Sale

SF
10401348819
Marcus & Millichap - Manhattan
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan
$1,950,000
7 days on market
Updated 7 days ago

104-30 39th Avenue

Details
APN 1776/8
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,250
Net Rentable (SqFt) 5,313
Units 8
Cap Rate 6.00%
NOI $117,260
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 8.70%
Pro-Forma NOI $168,825
Price per SqFt $312
Year Built 2009
Buildings 1
Zoning R5A
Investment Type Value Add

Multifamily | 6.00% CAP | 8 Units

Marketing description

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-bedrooms 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.

Investment 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

Listing Contacts

SF
10401348819
Marcus & Millichap - Manhattan
Marcus & Millichap - Manhattan
Listed by Marcus & Millichap - Manhattan

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$117,260.00
$9,771.67/mo

Valuation Metrics

0
DSCR
6.01%
Cap Rate
6.01%
ROI

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