Brick 7-Unit Multifamily
45-12 111 St Corona, NY 11368
45-12 111 St, Corona, NY, 11368
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For Sale
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Well-maintained 7-unit, solid brick semi-attached building with six 1-bedroom units and one 3-bedroom unit.
Property Size2,500 SF
Price / SF$679.60
Days on Market19
Property Features for 45-12 111 St
General Information
- Standard status
- Active
- Size
- 2,500 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 2004
Listing agency
EAST COAST NEW YORK INC
Listed by
Millie Hong-Jiao
Source
Crexi
Added: Jul 3 Updated: Jul 10 at 2:14PM Checked: Jul 20 at 4:29AM
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 EAST COAST NEW YORK INC
Investment Insights
Based on property information with market context.
Solid brick semi-attached 7-family apartment building built in 2004 and described as well-maintained. The building contains six 1-bedroom/1-bath apartments and one spacious 3-bedroom/2-bath apartment, including a private balcony. The property is rent-stabilized and benefits from a 25-year 421-a tax exemption scheduled to expire in 2030.
Located in the heart of Corona, the property is near bus service for Q23 and close to the 111 Street #7 subway station. The remarks also indicate proximity to shopping, supermarkets, restaurants, schools, parks, and major highways.
Also noted in the materials is an adjacent property at 45-10 111th Street available for sale, which may allow the purchase of one building individually or both as a package.
Located in the heart of Corona, the property is near bus service for Q23 and close to the 111 Street #7 subway station. The remarks also indicate proximity to shopping, supermarkets, restaurants, schools, parks, and major highways.
Also noted in the materials is an adjacent property at 45-10 111th Street available for sale, which may allow the purchase of one building individually or both as a package.
Key Highlights
- 2004‑built solid brick semi‑attached 7‑family apartment building
- Unit mix: six 1‑bedroom/1‑bath apartments plus one 3‑bedroom/2‑bath apartment with a private balcony
- Rent‑stabilized property with a 25‑year 421‑a tax exemption scheduled to expire in 2030
Local 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 | $115.5k | $46.20 |
| − Vacancy | −$4.4k | −$1.76 |
| EGI | $111.1k | $44.44 |
| − OpEx | −$50.0k | −$20.00 |
| NOI | $61.1k | $24.44 |
2,500 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$873.0K
$763.9K – $1.02M
NOI $61,111 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,012 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained 7-unit, solid brick semi-attached building with six 1-bedroom units and one 3-bedroom unit.
Where is this apartment building located?
The property is located at 45-12 111 St Corona, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: 2004‑built solid brick semi‑attached 7‑family apartment building; Unit mix: six 1‑bedroom/1‑bath apartments plus one 3‑bedroom/2‑bath apartment with a private balcony; Rent‑stabilized property with a 25‑year 421‑a tax exemption scheduled to expire in 2030
