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Corona Queens - Mixed-Use Building 3717-3719 108th St 14 Unit Apartment Building $2,600,000 ($185,714/Unit) 10.89% Cap Rate Corona, NY 11368
Investment Highlights
- 2 contiguous 4 story mixed use buildings with 14 rent stabilized residential apartments and 2 commercial units.
- Each commercial unit is slightly below grade with small elevator and handi-cap accesible platform lift.
- Each apartment has its own boiler and HVAC unit, some units have a balcony.
Executive Summary
2 Contiguous Mixed-Use Buildings
37-17 & 37-19 108th Street, Corona, Queens, NY!
Property Highlights:
2 Four Story Mixed-Use Buildings.
14 Rent Stabilized Residential Units.
Two Ground Floors Commercial Units.
Square Footage: 15,068
Built in 2008
Price Per Square Foot: $ 199
37-17 & 37-19 108th Street, Corona, Queens, NY!
Property Highlights:
2 Four Story Mixed-Use Buildings.
14 Rent Stabilized Residential Units.
Two Ground Floors Commercial Units.
Square Footage: 15,068
Built in 2008
Price Per Square Foot: $ 199
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro Forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$473,340
|
$31.41
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$473,340
|
$31.41
|
| Taxes |
$113,198
|
$7.51
|
| Operating Expenses |
$76,933
|
$5.11
|
| Total Expenses |
$190,131
|
$12.62
|
| Net Operating Income |
$283,209
|
$18.80
|
Financial Summary (Pro Forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $473,340 |
| Annual Per SF | $31.41 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $473,340 |
| Annual Per SF | $31.41 |
| Taxes | |
|---|---|
| Annual | $113,198 |
| Annual Per SF | $7.51 |
| Operating Expenses | |
|---|---|
| Annual | $76,933 |
| Annual Per SF | $5.11 |
| Total Expenses | |
|---|---|
| Annual | $190,131 |
| Annual Per SF | $12.62 |
| Net Operating Income | |
|---|---|
| Annual | $283,209 |
| Annual Per SF | $18.80 |
Property Facts
| Price | $2,600,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $185,714 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 10.89% | Building Size | 15,068 SF |
| Gross Rent Multiplier | 5.5 | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2008 |
| Property Subtype | Apartment | ||
| Zoning | C1-4 / R6BBlock | ||
| Price | $2,600,000 |
| Price Per Unit | $185,714 |
| Sale Type | Investment |
| Cap Rate | 10.89% |
| Gross Rent Multiplier | 5.5 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 15,068 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2008 |
| Zoning | C1-4 / R6BBlock |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 400 - 600 |
| 1+1 | 4 | - | 550 |
| 2+2 | 8 | - | 800 |
Walk Score®
Walker's Paradise (94)
Transit Score®
Excellent Transit (84)
Bike Score®
Very Bikeable (80)
Property Taxes
| Parcel Numbers | Total Assessment | $905,580 (2025) | |
| Land Assessment | $18,744 (2025) | Annual Taxes | $113,198 ($7.51/SF) |
| Improvements Assessment | $886,836 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Numbers
Land Assessment
$18,744 (2025)
Improvements Assessment
$886,836 (2025)
Total Assessment
$905,580 (2025)
Annual Taxes
$113,198 ($7.51/SF)
Tax Year
2024
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Corona Queens - Mixed-Use Building | 3717-3719 108th St
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