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55-44 97th Pl 5544 97th Pl 10 Unit Apartment Building $4,500,000 ($450,000/Unit) 6.98% Cap Rate Corona, NY 11368
Investment Highlights
- Features central air, hardwood floors, private balconies in select units, and an on-site laundry facility.
- Positioned near I-495, Citi Field, and Flushing Meadows-Corona Park, enhancing neighborhood lifestyle appeal.
- Conveniently located near the M/R and 7 subway lines, offering quick access to Manhattan and Queens.
Executive Summary
An exceptional investment opportunity with a projected cap rate approaching 7%, offering attractive income potential.
Welcome to 55-44 97th Place, a modern 6-story elevator building built in 2020 — one of the few new construction buildings in the area. Built in 2020, this well-maintained property features 10 residential units with a mix of spacious two-bedroom layouts and 1 three-bedroom layouts — all designed for comfortable, contemporary living in one of Queens’ most desirable neighborhoods.
The building comes with a 421-a Tax Abatement valid for 35 years (2023–2058), offering significant tax savings and enhancing the property’s long-term investment potential.
Located on a quiet residential block yet close to major transportation options, the building offers excellent access to the M/R and 7 subway lines, making commutes into Manhattan and throughout Queens easy and convenient.
Residents enjoy a clean, secure environment with elevator service, on-site laundry, central air, and open layouts with private outdoor space in select units — all complemented by strong rental demand in a vibrant, transit-connected community.
Perfect for investors alike, 55-44 97th Place presents bright, functional units with modern finishes, a proven rental history, and a long-term tax abatement that maximizes financial efficiency. Don’t miss this opportunity to own in a solid Queens location with stable income potential.
Building Amenities:
Elevator
2 Bathrooms per Unit
Central A/C
Dishwasher
Hardwood Floors
Private Balconies
Laundry Room
Welcome to 55-44 97th Place, a modern 6-story elevator building built in 2020 — one of the few new construction buildings in the area. Built in 2020, this well-maintained property features 10 residential units with a mix of spacious two-bedroom layouts and 1 three-bedroom layouts — all designed for comfortable, contemporary living in one of Queens’ most desirable neighborhoods.
The building comes with a 421-a Tax Abatement valid for 35 years (2023–2058), offering significant tax savings and enhancing the property’s long-term investment potential.
Located on a quiet residential block yet close to major transportation options, the building offers excellent access to the M/R and 7 subway lines, making commutes into Manhattan and throughout Queens easy and convenient.
Residents enjoy a clean, secure environment with elevator service, on-site laundry, central air, and open layouts with private outdoor space in select units — all complemented by strong rental demand in a vibrant, transit-connected community.
Perfect for investors alike, 55-44 97th Place presents bright, functional units with modern finishes, a proven rental history, and a long-term tax abatement that maximizes financial efficiency. Don’t miss this opportunity to own in a solid Queens location with stable income potential.
Building Amenities:
Elevator
2 Bathrooms per Unit
Central A/C
Dishwasher
Hardwood Floors
Private Balconies
Laundry Room
Property Facts
| Price | $4,500,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $450,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.98% | Building Size | 11,870 SF |
| No. Units | 10 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | ||
| Zoning | R6A, C1-2 - Commercial district predominantly residential in character | ||
| Price | $4,500,000 |
| Price Per Unit | $450,000 |
| Sale Type | Investment |
| Cap Rate | 6.98% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 11,870 SF |
| No. Stories | 6 |
| Year Built | 2020 |
| Zoning | R6A, C1-2 - Commercial district predominantly residential in character |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Microwave
- Kitchen
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 9 | - | 1,306 |
| 3+2 | 1 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 01905-0047 | Improvements Assessment | $634,466 |
| Land Assessment | $125,584 | Total Assessment | $760,050 |
Property Taxes
Parcel Number
01905-0047
Land Assessment
$125,584
Improvements Assessment
$634,466
Total Assessment
$760,050
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Presented by
Easyrent Realty LLC
55-44 97th Pl | 5544 97th Pl
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