Multifamily Building with Separate
112-42 38 Avenue Corona, NY 11368
New
For Sale
$2,880,000
MULTI_FAMILY - Corona, NY
Property Size5,294 SF
Lot Size0.06 Acres
Price / SF$544.01
Days on Market2
Property Features for 112-42 38 Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6
Rooms
Basement
Basement
Partial
Standard status
Active
APN
01785-0020
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
44424
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
2018
Number of units
8
Building materials
Brick
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Fenger Zou · License #10401313262
(347) 996-7996
Added: Jul 27
Last Checked: Jul 28 at 7:06AM
MLS# 1031301
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2018, this multifamily property includes 6 two-bedroom, one-bath units and 2 one-bedroom, one-bath units. The building is listed as approximately 5,294 square feet and features separate utilities, with 8 water meters, 8 gas meters, 9 electric meters, 8 heating systems, and 8 hot water heaters. The property is reported to be fully occupied, with rent receipts available and no written leases provided in the remarks.
Zoned R6, the asset is located in Corona, Queens, just a 2-block walk to the Roosevelt Avenue / 7 train station and near supermarkets, restaurants, and neighborhood amenities. The public remarks also reference proximity to Citi Field.
For tenants, the unit mix supports both one- and two-bedroom needs within a single building, alongside individualized utility services intended to simplify billing and operations.
Zoned R6, the asset is located in Corona, Queens, just a 2-block walk to the Roosevelt Avenue / 7 train station and near supermarkets, restaurants, and neighborhood amenities. The public remarks also reference proximity to Citi Field.
For tenants, the unit mix supports both one- and two-bedroom needs within a single building, alongside individualized utility services intended to simplify billing and operations.
Key Highlights
- Built in 2018 brick multifamily with approx. 5,294 SF (25' x 51') on a 25' x 100' lot
- Unit mix: 6 two‑bedroom/one‑bath units and 2 one‑bedroom/one‑bath units
- Fully occupied with all units rented at market rates; rent receipts available (no written leases)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $244.6k | $46.20 |
| − Vacancy | −$9.3k | −$1.76 |
| EGI | $235.3k | $44.44 |
| − OpEx | −$105.9k | −$20.00 |
| NOI | $129.4k | $24.44 |
5,294 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,409 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.90M
$3.41M – $4.55M
NOI $273,196 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 2018 multifamily with fully rented units and separate utility metering for each tenant.
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: Built in 2018 brick multifamily with approx. 5,294 SF (25' x 51') on a 25' x 100' lot; Unit mix: 6 two‑bedroom/one‑bath units and 2 one‑bedroom/one‑bath units; Fully occupied with all units rented at market rates; rent receipts available (no written leases)
