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Multi Family Investment Property - 6 Units 5528 98th St 6 Unit Apartment Building $2,299,000 ($383,167/Unit) Corona, NY 11368
Executive Summary
Located in the heart of Corona, Queens, this updated and recently renovated 6-unit walk-up
multifamily building presents an exceptional investment opportunity with a strong existing income
and long-term upside. The property features a desirable unit mix consisting of four one-bedroom
apartments and two spacious two-bedroom apartments, each with its own private terrace. Utilities
Paid By Tenant (Separate Meter): Heat and Gas. The building and units have been well maintained
with numerous updates throughout, including a updated sprinkler system, new boiler, and
surveillance security camera system, offering enhanced safety and security. The property also
includes a finished basement with additional usable space, as well as parking that generates
additional income potential. Conveniently located near public transportation, shopping, restaurants,
schools, and major highways, this turnkey asset offers an attractive combination of cash flow,
modern upgrades, and long-term value in one of Queens’ most established neighborhoods.
multifamily building presents an exceptional investment opportunity with a strong existing income
and long-term upside. The property features a desirable unit mix consisting of four one-bedroom
apartments and two spacious two-bedroom apartments, each with its own private terrace. Utilities
Paid By Tenant (Separate Meter): Heat and Gas. The building and units have been well maintained
with numerous updates throughout, including a updated sprinkler system, new boiler, and
surveillance security camera system, offering enhanced safety and security. The property also
includes a finished basement with additional usable space, as well as parking that generates
additional income potential. Conveniently located near public transportation, shopping, restaurants,
schools, and major highways, this turnkey asset offers an attractive combination of cash flow,
modern upgrades, and long-term value in one of Queens’ most established neighborhoods.
Property Facts
| Price | $2,299,000 | Apartment Style | Low-Rise |
| Price Per Unit | $383,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| No. Units | 6 | Building Size | 4,070 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1987 |
| Zoning | R6B - Medium-density residential district | ||
| Price | $2,299,000 |
| Price Per Unit | $383,167 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 4,070 SF |
| No. Stories | 3 |
| Year Built | 1987 |
| Zoning | R6B - Medium-density residential district |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Security System
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 3 | - | - |
| 2+1 | 2 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 01906-0042 | Improvements Assessment | $156,379 |
| Land Assessment | $2,395 | Total Assessment | $158,774 |
Property Taxes
Parcel Number
01906-0042
Land Assessment
$2,395
Improvements Assessment
$156,379
Total Assessment
$158,774
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