Three-Unit Brick
For Sale
$1,499,999
111-21 44th Avenue, Corona, NY 11368
A three-level residence offers a finished basement, outdoor access, and multiple bedroom layouts.
Property Size2,650 SF
Price / SF$566.04
Days on Market48
Property Features for 111-21 44th Avenue
General Information
Standard status
Active
Size
2,650 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR/1BA, 2 x 3BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,047
Amenities
First Floor Bedroom
First Floor Full Bath
Building Details
Building Size
2,650 SF
Year Built
2005
Buildings
1
Stories
3
Units
3
Construction
brick
Listed By:
Gail Leone
(914) 723-8228
Source:
Clairedleone
Added: Sep 8
Changed: Oct 23
Last Checked: Oct 23 at 3:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gail Leone
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Investment Insights
Based on property information with market context.
Built in 2005, this brick triplex contains three residential units across three above-grade floors, with a high-ceiling basement. The finished lower level includes a half bath, utility room access, and open recreational space. The first floor has one bedroom and one bathroom, with access to the backyard. Each of the upper floors offers three bedrooms and two bathrooms, along with a rear balcony.
The property is at 111-21 44th Avenue in Corona, with shopping, schools, parks, and public transportation nearby. The 7 train station is a five-minute walk away.
The property is at 111-21 44th Avenue in Corona, with shopping, schools, parks, and public transportation nearby. The 7 train station is a five-minute walk away.
Key Highlights
- Legal three‑family brick residence
- Built in 2005
- Three above‑grade floors and a high‑ceiling basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,778
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,295,560
$1.3M
Cap Rate 7%
$925,400
$925.4K
Cap Rate 9%
$719,756
$719.8K
Market Conditions
NOI Build-Up for 2,650 SF
Gross rent
$122.4K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$117.8K $44.44/SF
− OpEx
−$53.0K −$20.00/SF
NOI
$64.8K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,295,560
Cap Rate 7%
$925,400
Cap Rate 9%
$719,756
Alternative Uses
Best Use
Apartment 5plus
$925.4K
$809.7K – $1.08M
NOI $64,778 @ 7.0% cap · market cap 4.32%
Second Best
Multifamily LT 5
$626.6K
$548.3K – $731.0K
NOI $43,862 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,753 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,752
Businesses Nearby
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Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - A three-level residence offers a finished basement, outdoor access, and multiple bedroom layouts.
Where is this triplex located?
The property is located at 111-21 44th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: Legal three‑family brick residence; Built in 2005; Three above‑grade floors and a high‑ceiling basement
