32-Unit Apartment
For Sale
$3,750,000
3354 99th Street, Corona, NY 11368
The two-building offering combines rent-regulated apartments with access to subway and bus service.
Property Size13,140 SF
Lot Size0.18 Acres
Price / SF$285.39
Days on Market95
Property Features for 3354 99th Street
General Information
Standard status
Active
Size
13,140 SF
Lot size
0.18 Acres
Property subtype
Commercial
Zoning
R5A
Units
Unit Mix
21 x 1BR, 11 x 2BR
Multifamily Units
32
Additional Details
Asking Price
$7,250,000
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$37,255
Building Details
Building Size
13,140 SF
Year Built
1927
Buildings
2
Stories
4
Units
16
Construction
solid-brick
Listing Agency:
Telemundo Realty Corp
(718) 205-3737
Listed By:
Eduardo Ramirez · License #10401329468
(347) 945-9108
Source:
Croninreale
Added: Jul 22
Changed: Oct 23
Last Checked: Oct 23 at 6:06PM
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 Telemundo Realty Corp
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Investment Insights
Based on property information with market context.
This two-building apartment property contains 32 residential units, with 16 in each building. The mix comprises 21 one-bedroom and 11 two-bedroom apartments; 30 units are rent stabilized and two are rent controlled. Both buildings are solid brick, date to 1927, and measure approximately 40 x 90. The combined lot measures 80 x 100, and the zoning is R5A.
Transit options include the 7 train at Roosevelt Avenue and Junction Boulevard, along with bus service on Northern Boulevard. Schools, shopping, banks, restaurants, and major roadways are also noted in the surrounding area.
Transit options include the 7 train at Roosevelt Avenue and Junction Boulevard, along with bus service on Northern Boulevard. Schools, shopping, banks, restaurants, and major roadways are also noted in the surrounding area.
Key Highlights
- 32 residential units across two buildings, with 16 units in each
- Unit mix: 21 one‑bedroom apartments and 11 two‑bedroom apartments
- 30 rent‑stabilized units and 2 rent‑controlled units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$321,200
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,424,000
$6.4M
Cap Rate 7%
$4,588,571
$4.6M
Cap Rate 9%
$3,568,889
$3.6M
Market Conditions
NOI Build-Up for 13,140 SF
Gross rent
$607.1K $46.20/SF
− Vacancy
−$23.1K −$1.76/SF
EGI
$584.0K $44.44/SF
− OpEx
−$262.8K −$20.00/SF
NOI
$321.2K $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%
$6,424,000
Cap Rate 7%
$4,588,571
Cap Rate 9%
$3,568,889
Alternative Uses
Best Use
Apartment 5plus
$4.59M
$4.02M – $5.35M
NOI $321,200 @ 7.0% cap · market cap 8.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.69M
$8.48M – $11.30M
NOI $678,087 @ 7.0% cap · market cap 18.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
5,517
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?
Apartment building - The two-building offering combines rent-regulated apartments with access to subway and bus service.
Where is this apartment building located?
The property is located at 3354 99th Street Corona, NY.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: 32 residential units across two buildings, with 16 units in each; Unit mix: 21 one‑bedroom apartments and 11 two‑bedroom apartments; 30 rent‑stabilized units and 2 rent‑controlled units
