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1821 Cornelia St 6 Unit Apartment Building $1,150,000 ($191,667/Unit) 6.10% Cap Rate Flushing, NY 11385
Investment Highlights
- Prime RIdgewood Location located near the M and L trains
- Common area were renovated and there is potential to add storage in the basement
- Tax Class 2B
- Pristine Asset with very little deferred maintenance
- 2 Renovated apartments
Executive Summary
Landair Advisors has been retained to sell a 6-unit apartment building in the Ridgewood section of Queens. Currently, 2 out of the 6 units are free market and the property has been meticulously maintained. The rents are below market and there is an opportunity to build storage in the basement or duplex the ground floor units. The property is located 3 blocks from the M train (Forest Avenue Stop) as well as 5 blocks from the L train (Myrtle- Wykoff Stop).
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $191,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.10% | Building Size | 5,600 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | ||
| Zoning | R6, Queens, (C2) - R6B | ||
| Price | $1,150,000 |
| Price Per Unit | $191,667 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,600 SF |
| No. Stories | 3 |
| Year Built | 1930 |
| Zoning | R6, Queens, (C2) - R6B |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 3+1 | 4 | - | - |
| 3+2 | 1 | - | 1,200 |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03463-0042 | Improvements Assessment | $154,841 |
| Land Assessment | $2,351 | Total Assessment | $157,192 |
Property Taxes
Parcel Number
03463-0042
Land Assessment
$2,351
Improvements Assessment
$154,841
Total Assessment
$157,192
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1821 Cornelia St
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