53-12 102 St Queens, NY 11368
- Apartment buildings
- 5,116 SF
Current Use by Public Records
- Apartment buildings
Property Details for 53-12 102 St
- Year built
- 2017
- Property size
- 5,116 SF
- Property type
- Apartment buildings
Description
This exceptional 2017-built, four-story apartment building in Corona, Queens presents a compelling investment opportunity. The property boasts seven units: one spacious three-bedroom duplex and six one-bedroom units, all currently fully leased and generating substantial income. Each unit features sub-metering, minimizing operational overhead and maximizing efficiency. The building totals 5,116 square feet, offering a price per square foot of $523.85. The current Net Operating Income (NOI) stands at $163,444, with a projected pro-forma NOI of $189,395, reflecting a potential for significant growth. The property benefits from a 421A tax abatement, providing substantial tax savings for the investor. Located at 53-12 102nd Street, 11368, in a highly desirable area of Corona, this multifamily property offers a blend of immediate cash flow and long-term appreciation potential. The asking price is $2,680,000, translating to $382,857.14 per unit. The current cap rate is 6.10%, with a pro-forma cap rate of 7.07%. This property is zoned 2500. All regulated rents are currently at market rate. This is an ideal investment for those seeking a stable, high-performing asset in a prime location.
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
- -73.8591
- Latitude
- 40.7409
