Corona Multifamily Building Near 7
38-11 111th Street Corona, NY 11368
For Sale
$2,550,000
MULTI_FAMILY - Corona, NY
Property Size5,515 SF
Lot Size0.08 Acres
Price / SF$462.38
Days on Market92
Property Features for 38-11 111th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5
Rooms
Basement
Parking
3
Basement
Full, Finished
Standard status
Active
APN
01783-0007
Size
5,515 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1380
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
2004
Number of units
6
Building materials
Brick
Listing Agency:
City Advance Realty Inc
(718) 886-6098
Listed By:
Shan Wang
(917) 575-1188
Added: Apr 30
Changed: Jul 28
Last Checked: Jul 30 at 1:06AM
MLS# 993203
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.
This well-maintained 6-family residential building is located in Corona, approximately one block from the 7 Train. The property features approximately 5,515 square feet of building area on a 3,688 square foot lot. The building dimensions are approximately 20.50 feet by 68.38 feet. Features include a fully finished basement, front and rear balconies, a backyard, and three parking spaces. The building is equipped with 6 gas meters and 7 electric meters. The property is currently fully occupied with a residential rent roll of approximately $13,370 per month. In addition, the property currently generates additional income from basement and ancillary space. Annual property taxes are approximately $1,380, with a tax abatement in place; buyers should verify the remaining term. The property is conveniently located near transportation, shopping, and neighborhood amenities.
Key Highlights
- Prime location: Just one block from the 7 Train in Corona.
- Strong income potential: Fully occupied with $13,370 monthly residential rent roll, plus income from basement & ancillary space.
- Valuable amenities: Features a fully finished basement, front and rear balconies, backyard, and three parking spaces.
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 | $254.8k | $46.20 |
| − Vacancy | −$9.7k | −$1.76 |
| EGI | $245.1k | $44.44 |
| − OpEx | −$110.3k | −$20.00 |
| NOI | $134.8k | $24.44 |
5,515 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $134,811 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.07M
$3.56M – $4.74M
NOI $284,600 @ 7.0% cap · market cap 11.16%
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 - Well-maintained 6-family building near transportation, shopping, and amenities.
Where is this apartment building located?
The property is located at 38-11 111th Street Corona, NY.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Prime location: Just one block from the 7 Train in Corona.; Strong income potential: Fully occupied with $13,370 monthly residential rent roll, plus income from basement & ancillary space.; Valuable amenities: Features a fully finished basement, front and rear balconies, backyard, and three parking spaces.
