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54-14 111th St
Corona, NY 11368
Multifamily Property For Sale
·
8 Units
INVESTMENT HIGHLIGHTS
- This 8-unit multifamily building is fully tenant occupied and generating a 5.5% cap rate.
- Newer construction - the property was built in 2013.
- The property has 12 years remaining on tax abatement.
EXECUTIVE SUMMARY
Prime investment opportunity. This 8-unit multifamily building is fully tenant occupied with an Net Operating Income of $214,433 which is producing a 5.5% CAP rate. The Gross Income is $231,000. There is an existing tax abatement on the property with 12 years remaining. Tenants are paying all utilities and the property taxes are $3,095. The units are all 2-bedroom/1-bathroom with a balcony and garage.
PROPERTY FACTS
| Price Per Unit | $510,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 6.47% | Building Size | 8,652 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 2013 |
| Apartment Style | Mid-Rise | Parking Ratio | 0.92/1,000 SF |
| Zoning | R6B - Medium density residential district | ||
| Price Per Unit | $510,000 |
| Sale Type | Investment |
| Cap Rate | 6.47% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.10 AC |
| Building Size | 8,652 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built | 2013 |
| Parking Ratio | 0.92/1,000 SF |
| Zoning | R6B - Medium density residential district |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 8 | - | 819 - 919 |
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