109-07 46Th Ave Corona, NY 11368

Property Details for 109-07 46Th Ave

Year built

1925

Property size

1,728 SF

Property type

Apartment buildings

Description

This 3-unit apartment building, located at 109-07 46th Avenue in Corona, NY 11368, presents a compelling redevelopment opportunity. Built in 1925, this solid brick structure offers 1,728 square feet of net rentable space across three units, priced at $1,095,000 ($633.68/sq ft). Each unit is priced at $365,000. The property sits on a 0.062-square-foot lot, with a land value of $634 per square foot. The building boasts three parking spaces and is conveniently located just five blocks from the #7 train station. This property offers significant potential for investors and developers seeking a rehab-then-rent project or a complete redevelopment into a larger multi-family structure, potentially a 6-unit building. The existing building has good bones and has been owned by the same family since its construction. Its prime location on a residential block, with Flushing Meadows Corona Park as its front yard, makes it an attractive investment. The property's three stories and solid construction provide a strong foundation for future development. This is a rare opportunity to acquire a well-situated property with substantial upside potential in a desirable neighborhood.