108-40 51St Ave Queens, NY 11368
- Apartment buildings
- 4,444 SF
Current Use by Public Records
- Apartment buildings
Property Details for 108-40 51St Ave
- Property size
- 4,444 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a well-maintained three-unit apartment building located at 108-40 51st Ave in Corona, Queens, New York, 11368. The property boasts a total of 4,444 square feet of living space situated on a generous 5,000 square foot lot (50ft x 100ft). The building is a two-story structure currently classified as a C-Class multifamily property. It offers a compelling net operating income (NOI) of $65,300, resulting in a 3.96% capitalization rate at an asking price of $1,650,000. The property is zoned R5, presenting significant potential for future development and increased returns. Annual property taxes are $13,965. This property is an ideal investment for those seeking stable rental income and long-term appreciation in a desirable Queens location. The building's size and zoning provide a solid foundation for a strong return on investment. Serious inquiries are encouraged to explore this lucrative opportunity further.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.8536
- Latitude
- 40.7442
