5-Unit Apartment
New
For Sale
$1,500,000
57-15 Penrod Street, Corona, NY 11368
Each residence has its own boiler and hot water heater, with garage and driveway parking on site.
Property Size4,083 SF
Days on Market3
Property Features for 57-15 Penrod Street
General Information
Standard status
Active
Size
4,083 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR, 1 x studio, 3 x 2BR
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$19,097
Building Details
Building Size
4,083 SF
Year Built
1915
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Tayler E. Mollitor · License #10401272732
(516) 263-8689
Source:
Serhant
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 2:45PM
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 Douglas Elliman Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1915, this five-apartment property includes a mix of studio and two-bedroom residences, plus an attic. The ground-floor two-bedroom unit has its own entrance. Each apartment is served by a separate boiler and hot water heater. A 1.5-car garage and driveway provide on-site parking. The property is being sold as-is.
Key Highlights
- Five apartments: one studio and four two‑bedroom units
- Ground‑floor two‑bedroom apartment has a separate entrance
- Each apartment has its own boiler and hot water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,807
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,996,140
$2.0M
Cap Rate 7%
$1,425,814
$1.4M
Cap Rate 9%
$1,108,967
$1.1M
Market Conditions
NOI Build-Up for 4,083 SF
Gross rent
$188.6K $46.20/SF
− Vacancy
−$7.2K −$1.76/SF
EGI
$181.5K $44.44/SF
− OpEx
−$81.7K −$20.00/SF
NOI
$99.8K $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%
$1,996,140
Cap Rate 7%
$1,425,814
Cap Rate 9%
$1,108,967
Alternative Uses
Best Use
Apartment 5plus
$1.43M
$1.25M – $1.66M
NOI $99,807 @ 7.0% cap · market cap 6.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,702 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,486
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has its own boiler and hot water heater, with garage and driveway parking on site.
Where is this apartment building located?
The property is located at 57-15 Penrod Street Corona, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Five apartments: one studio and four two‑bedroom units; Ground‑floor two‑bedroom apartment has a separate entrance; Each apartment has its own boiler and hot water heater
