AVAILABILITY DETAILS
- Size
- 10,304 SF
- Price/SF
-
Show Pricing $
- Listing ID
- SA435505
- Notes
- Cap Rate 5%
Building Size 10,304 sqft
Lot Area 3,400 sqft
Units 15
Zoning R5
Floors 4
DESCRIPTION
Ariel Property Advisors presents 35-20 108th Street, a four-story, 40’ wide walk-up building located between 34th Avenue and 37th Avenue in Corona, Queens.
The 10,304 gross square feet building contains 15 residential units with an average of 500 square feet per unit. The unit mix consists of 13 one-bedroom, 1 two-bedroom and 1 three-bedroom apartments. There is 1 free market unit and the remaining 14 units are all rent stabilized, with 8 of them having preferential rent status. There is significant near-term upside via preferential rents that could be utilized in the future.
The multifamily building is conveniently located in the heart of Corona, Queens. Roosevelt Avenue is a short walk from the building and offers plenty of retail options and transportation. The 7-train can be accessed at 111th Street offering access to Manhattan and the Q48 bus runs along Roosevelt Avenue serving the immediate neighborhood as well. The area is also home to C-Town Supermarket, Blink Fitness and other neighborhood destinations such as the Louis Armstrong House Museum and Louis Armstrong Park.
35-20 108th Street presents investors with an opportunity to acquire a well-maintained property with low vacancy, strong cash flow and near-term upside.
DOCUMENTS
- Uses
- Multifamily
This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.
Listing provided courtesy of
Michael Tortorici, Ariel Property Advisors