5615 Van Cleef St Flushing, NY 11368-4025

This exceptional 7-unit multifamily building, constructed in 2022, presents a compelling investment opportunity in the heart of Corona, NY. The property boasts 5,130 square feet on a 0.06-acre lot and features a mix of one- and two-bedroom apartments, generating substantial rental income. Six dedicated parking spaces and a basement office further enhance its appeal. The building benefits from strong R6B zoning, allowing for potential future development or expansion. High 9-foot ceilings, new LED lighting, a security camera system, separate meters, and a large rear yard add to its desirability. Strategically located near major roadways, including the Grand Central Parkway and I-495, this property enjoys excellent visibility and accessibility. Its prime location offers proximity to numerous amenities, including Citi Field, Flushing Meadows Corona Park, and a wide array of retail establishments such as Nike, Home Depot, Target, Costco, and more. The current annual gross income is $180,312, with a net operating income (NOI) of $164,475. Detailed financial statements are available upon request, showcasing the strong cash flow potential. Annual expenses include $792 for gas (common area only), $1,320 for electricity (common area only), $250 for maintenance and repairs, $6,589 for insurance, $3,852 for water, and $3,034 for taxes. This property represents a rare opportunity to acquire a high-performing asset in a thriving market with significant upside potential.