8-Unit Apartment
For Sale
$2,880,000
112-42 38 Avenue, Corona, NY 11368
Separate water, gas, and electric meters serve the units, which also have individual heating and hot water systems.
Property Size5,464 SF
Lot Size0.06 Acres
Price / SF$527.09
Days on Market90
Property Features for 112-42 38 Avenue
General Information
Standard status
Active
Size
5,464 SF
Lot size
0.06 Acres
Property subtype
Commercial
Zoning
R6
Occupancy
100%
Financials
Cap Rate
6%
Gross Income
$210,000
Units
Unit Mix
6 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
8
Individually Metered Utilities
water, electricity, gas
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$44,424
Building Details
Building Size
5,464 SF
Year Built
2018
Units
8
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Fenger Zou · License #10401313262
(347) 996-7996
Source:
Croninreale
Added: Jul 27
Changed: Oct 23
Last Checked: Oct 23 at 9:50AM
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 E Realty International Corp
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Investment Insights
Based on property information with market context.
Built in 2018, this R6-zoned apartment property contains eight homes: six with two bedrooms and one bathroom, plus two with one bedroom and one bathroom. The 25' × 100' lot holds a building measuring 25' × 51'. The property is fully occupied, and rent receipts are available; there are no written leases.
Utility and mechanical infrastructure includes 8 water meters, 8 gas meters, 9 electric meters, 8 heating systems, and 8 hot water heaters. The property is a two-block walk from the Roosevelt Avenue / 7 Train station and is near supermarkets, restaurants, Citi Field, and neighborhood amenities.
Utility and mechanical infrastructure includes 8 water meters, 8 gas meters, 9 electric meters, 8 heating systems, and 8 hot water heaters. The property is a two-block walk from the Roosevelt Avenue / 7 Train station and is near supermarkets, restaurants, Citi Field, and neighborhood amenities.
Key Highlights
- Eight apartments: 6 two‑bedroom/one‑bath units and 2 one‑bedroom/one‑bath units
- Built in 2018; zoned R6
- 25' × 100' lot; building measures 25' × 51'
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$133,564
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,671,280
$2.7M
Cap Rate 7%
$1,908,057
$1.9M
Cap Rate 9%
$1,484,044
$1.5M
Market Conditions
NOI Build-Up for 5,464 SF
Gross rent
$252.4K $46.20/SF
− Vacancy
−$9.6K −$1.76/SF
EGI
$242.8K $44.44/SF
− OpEx
−$109.3K −$20.00/SF
NOI
$133.6K $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%
$2,671,280
Cap Rate 7%
$1,908,057
Cap Rate 9%
$1,484,044
Alternative Uses
Best Use
Apartment 5plus
$1.91M
$1.67M – $2.23M
NOI $133,564 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.03M
$3.52M – $4.70M
NOI $281,969 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,321
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Separate water, gas, and electric meters serve the units, which also have individual heating and hot water systems.
Where is this apartment building located?
The property is located at 112-42 38 Avenue Corona, NY.
What is the asking price?
The asking price for this property is $2,880,000.
What are key features of this property?
This property features: Eight apartments: 6 two‑bedroom/one‑bath units and 2 one‑bedroom/one‑bath units; Built in 2018; zoned R6; 25' × 100' lot; building measures 25' × 51'
