32-Unit Brick Apartment
For Sale
$3,500,000
98-15 34th Avenue, Corona, NY 11368
The two-building residential package combines stabilized and controlled apartments in Corona.
Property Size13,000 SF
Lot Size0.18 Acres
Price / SF$269.23
Days on Market94
Property Features for 98-15 34th Avenue
General Information
Standard status
Active
Size
13,000 SF
Lot size
0.18 Acres
Property subtype
Commercial
Units
Unit Mix
21 x 1BR, 11 x 2BR
Multifamily Units
32
Additional Details
Asking Price
$7,250,000
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$64,013
Building Details
Building Size
13,000 SF
Year Built
1927
Buildings
2
Units
32
Construction
solid-brick
Listing Agency:
Telemundo Realty Corp
(718) 205-3737
Listed By:
Eduardo Ramirez · License #10401329468
(347) 945-9108
Source:
Croninreale
Added: Jul 23
Changed: Oct 23
Last Checked: Oct 23 at 5:54PM
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 Telemundo Realty Corp
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.
This Corona multifamily offering includes two solid-brick apartment buildings with 32 residences, divided evenly between the buildings. The unit mix comprises 21 one-bedroom apartments and 11 two-bedroom apartments. Rent regulation applies to 30 units, while the remaining 2 are rent controlled. Each building measures approximately 40 x 90, and the combined site measures 80 x 100.
The properties are near schools, shopping, banks, restaurants, and major roadways. Public transit options include the 7 train at Roosevelt Avenue and Junction Boulevard, plus bus service on Northern Boulevard.
The properties are near schools, shopping, banks, restaurants, and major roadways. Public transit options include the 7 train at Roosevelt Avenue and Junction Boulevard, plus bus service on Northern Boulevard.
Key Highlights
- Two solid‑brick apartment buildings with 16 units in each
- 32 apartments: 21 one‑bedroom and 11 two‑bedroom
- 30 rent‑stabilized units and 2 rent‑controlled units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$317,777
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,355,540
$6.4M
Cap Rate 7%
$4,539,671
$4.5M
Cap Rate 9%
$3,530,856
$3.5M
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$600.6K $46.20/SF
− Vacancy
−$22.8K −$1.76/SF
EGI
$577.8K $44.44/SF
− OpEx
−$260.0K −$20.00/SF
NOI
$317.8K $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%
$6,355,540
Cap Rate 7%
$4,539,671
Cap Rate 9%
$3,530,856
Alternative Uses
Best Use
Apartment 5plus
$4.54M
$3.97M – $5.30M
NOI $317,777 @ 7.0% cap · market cap 9.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.58M
$8.39M – $11.18M
NOI $670,862 @ 7.0% cap · market cap 19.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
5,150
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 - The two-building residential package combines stabilized and controlled apartments in Corona.
Where is this apartment building located?
The property is located at 98-15 34th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Two solid‑brick apartment buildings with 16 units in each; 32 apartments: 21 one‑bedroom and 11 two‑bedroom; 30 rent‑stabilized units and 2 rent‑controlled units
