11242 38th Ave 8 Unit Apartment Building For Sale Corona, NY 11368

This investment property offers an exceptional opportunity in the dynamic neighborhood of Corona, Queens. Constructed in 2018, the five-story mid-rise building comprises eight residential units with modern finishes, designed to meet current living standards and deliver long-term operational efficiency. The property sits on a 2,500 sq. ft. lot and has been thoughtfully maintained, providing strong income potential in a highly sought-after residential submarket.
Positioned within an R6 zoning district, the asset offers future redevelopment flexibility, including the potential for condominium conversion. The property benefits from easy access to major thoroughfares and public transit options, ensuring strong connectivity across Queens and into Manhattan. With consistent rental demand driven by Queens’ robust population and proximity to employment centers, this property is well positioned for investors seeking stable returns with long-term upside.
On-site features include brick construction for lasting durability, controlled access, HVAC, and unit-level amenities such as modern kitchens, tubs, showers, and gas heating. Nearby attractions include Flushing Meadows–Corona Park, major retail corridors along Roosevelt Avenue, and quick access to LaGuardia Airport. The asset’s combination of build quality, location, and zoning flexibility makes it a compelling choice for discerning investors.