Eight-Unit Apartment
For Sale
$3,950,000
54-14 111th Street, Corona, NY 11368
Residential, Corona, NY
Property Size8,652 SF
Lot Size0.09 Acres
Price / SF$456.54
Days on Market415
Property Features for 54-14 111th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Bedrooms
16
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 4, Bedroom 10, Bathroom 5, Bathroom 4, Bathroom 8, Bedroom 13, Bedroom 16, Bedroom 3, Bedroom 12, Bathroom 1, Bedroom 11, Bedroom 6, Bedroom 8, Bedroom 1, Bedroom 9, Bathroom 2, Bathroom 6, Bedroom 7, Bedroom 2, Bedroom 14, Bedroom 15, Bathroom 7, Bathroom 3, Bedroom 5
Interior features
Refrigerator, Stove
Basement
Finished
Subdivision
Corona
Standard status
Active
Size
8,652 SF
Lot size
0.09 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
3095
Amenities
private balcony
Building Details
Year built
2013
Floors in Building
5
Number of units
8
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Flat
Buildings
1
Listing Agency:
Tiger Realty
Listed By:
XueYan (Maggie) LI
(917) 708-9966
Added: Sep 15, 2025
Changed: Oct 30
Last Checked: Nov 3 at 9:06PM
MLS# 495771
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 2013, this eight-unit apartment property contains 8,652 square feet on a 0.0859-acre parcel. The brick building includes private balconies for each unit, separate boilers and water heaters, tile and hardwood flooring, refrigerators, and stoves. Every apartment carries a one-year lease. The property also includes a private driveway, a detached four-car garage, and one carport. The garage and carport are separately rented, providing additional income streams.
The property is located at 54-14 111th Street in Corona, Queens, NY 11368. R6B zoning applies, and a property tax abatement is stated to remain in effect for the next twelve years. The building’s residential configuration, on-site parking improvements, and individual heating systems support its multifamily use.
The property is located at 54-14 111th Street in Corona, Queens, NY 11368. R6B zoning applies, and a property tax abatement is stated to remain in effect for the next twelve years. The building’s residential configuration, on-site parking improvements, and individual heating systems support its multifamily use.
Key Highlights
- Eight apartment units in an 8,652‑square‑foot building
- Built in 2013 with brick construction, flat roof, tile, and hardwood flooring
- Private balcony provided for every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$211,493
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,229,860
$4.2M
Cap Rate 7%
$3,021,329
$3.0M
Cap Rate 9%
$2,349,922
$2.3M
Market Conditions
NOI Build-Up for 8,652 SF
Gross rent
$399.7K $46.20/SF
− Vacancy
−$15.2K −$1.76/SF
EGI
$384.5K $44.44/SF
− OpEx
−$173.0K −$20.00/SF
NOI
$211.5K $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%
$4,229,860
Cap Rate 7%
$3,021,329
Cap Rate 9%
$2,349,922
Alternative Uses
Best Use
Apartment 5plus
$3.02M
$2.64M – $3.52M
NOI $211,493 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.38M
$5.58M – $7.44M
NOI $446,485 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,697
Businesses Nearby
Explore this area
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 - Brick multifamily property with private balconies, individual heating equipment, and leased units.
Where is this apartment building located?
The property is located at 54-14 111th Street Corona, NY.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Eight apartment units in an 8,652‑square‑foot building; Built in 2013 with brick construction, flat roof, tile, and hardwood flooring; Private balcony provided for every unit
