Brick Quadplex with Finished
For Sale
$1,580,000
35-43 97th Street, Corona, NY 11368
Four dwellings span three residential levels, with a finished basement and gas heat.
Property Size4,160 SF
Price / SF$379.81
Days on Market9
Property Features for 35-43 97th Street
General Information
Standard status
Active
Size
4,160 SF
Property subtype
Residential Income
Zoning
R5
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,116
Amenities
finished basement
Finished,Full
5
Yes
8
Other
Finished, Full
No
4160
Building Details
Building Size
4,160 SF
Year Built
2006
Buildings
1
Stories
4
Construction
solid brick
Listing Agency:
(516) 703-2918
Listed By:
John Taylor
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 3:51PM
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 John Taylor
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Investment Insights
Based on property information with market context.
Built in 2006, this brick quadplex contains four dwellings across three residential levels. The first-floor unit has three bedrooms and two full baths, while the second-floor unit offers three bedrooms and one full bath. Two additional units on the third level each have one bedroom and one bath. A full finished basement includes a bathroom and high ceilings, and the attic provides open storage space.
The property occupies a 25x100 lot, with a 25x60 building footprint. Gas heat serves the building, which is zoned R5. The combination of four separate dwellings and finished lower-level space defines the property's current configuration.
The property occupies a 25x100 lot, with a 25x60 building footprint. Gas heat serves the building, which is zoned R5. The combination of four separate dwellings and finished lower-level space defines the property's current configuration.
Key Highlights
- Four dwellings in a brick building constructed in 2006
- First‑floor unit: 3 bedrooms and 2 full baths; second‑floor unit: 3 bedrooms and 1 full bath
- Two third‑level units, each with 1 bedroom and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,689
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,033,780
$2.0M
Cap Rate 7%
$1,452,700
$1.5M
Cap Rate 9%
$1,129,878
$1.1M
Market Conditions
NOI Build-Up for 4,160 SF
Gross rent
$192.2K $46.20/SF
− Vacancy
−$7.3K −$1.76/SF
EGI
$184.9K $44.44/SF
− OpEx
−$83.2K −$20.00/SF
NOI
$101.7K $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%
$2,033,780
Cap Rate 7%
$1,452,700
Cap Rate 9%
$1,129,878
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,689 @ 7.0% cap · market cap 6.44%
Second Best
Multifamily LT 5
$983.6K
$860.7K – $1.15M
NOI $68,855 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$3.07M
$2.68M – $3.58M
NOI $214,676 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,056
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?
Quadplex - Four dwellings span three residential levels, with a finished basement and gas heat.
Where is this quadplex located?
The property is located at 35-43 97th Street Corona, NY.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: Four dwellings in a brick building constructed in 2006; First‑floor unit: 3 bedrooms and 2 full baths; second‑floor unit: 3 bedrooms and 1 full bath; Two third‑level units, each with 1 bedroom and 1 bath
