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99-42 41st Ave
Corona, NY 11368
Multifamily Property For Sale
·
28 Units
PROPERTY FACTS
| No. Units | 28 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 19,952 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Mid-Rise | No. Stories | 4 |
| Building Class | B | Year Built | 1931 |
| Zoning | R6B - R6B As a contextual district, buildings developed in R6B Zoning must comply with Quality Housing Program Regulations. | ||
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 19,952 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1931 |
| Zoning | R6B - R6B As a contextual district, buildings developed in R6B Zoning must comply with Quality Housing Program Regulations. |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
ABOUT 99-42 41ST AVE , CORONA, NY 11368
Cushman & Wakefield has been retained on an exclusive basis for the sale of 99-42 41st Avenue, Corona, Queens. The property is a four-story, 28-unit walk-up apartment building, located on the north side of 41st Avenue between 102nd and 103rd Streets in Corona, Queens, just a short walk to the 103rd Street-Roosevelt Avenue 7-Train station. All units are rent stabilized with one SCRIE tenant. The building consists of six (2) bedroom apartments, eighteen (1) bedroom apartments and four (1) bedroom apartments with efficient kitchens. Recent MCIs includes new roof and parapet wall, refurbished boiler and new dual fuel burner, new energy efficient hot water heaters, new basement windows, new fireproof doors for all apartments, new interior and exterior lighting, and the replacement of all lead pipes in the basement. Eight of the 28 units have been recently renovated. The current average monthly rent of $1,156 per apartment and $20 PSF (approx. based on estimated 15% loss factor) represents approx. 70% of the current rental market, leaving tremendous future upside potential. This is an excellent opportunity for an investor with a 1031 exchange. All property inspections are by appointment only. Please contact exclusive agents for additional information.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 28 | - | - |
PROPERTY TAXES
| Parcel Number | 01616-0024 | Improvements Assessment | $684,360 |
| Land Assessment | $95,850 | Total Assessment | $780,210 |
PROPERTY TAXES
