99-11 42 Avenue, Corona, NY 11368
sale
$965,000
|
Other
Courtesy Of Keller Williams Landmark II
Prime Corona Investment Opportunity: Located in the heart of Corona, Queens, 99-11 42nd Avenue is a well-maintained, cash-flowing 6-family brick building perfect for savvy investors looking to maximize cash flow or execute a seamless 1031 exchange. The property features six residential units, consisting of five spacious 2-bedroom apartments and one comfortable 1-bedroom apartment, all configured with efficient, tenant-friendly layouts. Landlord overhead is kept low thanks to a total of 7 electric and 7 gas meters, providing separate utility ( cooking gas and Electric) setups for each individual unit so tenants pay their own expenses. The location is extremely convenient, situated just blocks from the 103rd St-Corona Plaza 7-train subway station, which offers a seamless commute directly into Midtown Manhattan and Long Island City. It's located in close proximity to a vibrant mix of local shopping, diverse dining options, community parks, and essential services ensuring a strong rental demand, making this a phenomenal income-generating asset to add to your real estate portfolio. With a gross annual revenue of $113,486 and a NOI of $62,982 after all expenses, this investment will allow you to cash flow immediately.
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Property Features
- Age: Over 50 Years Old
- Amenities: Basement
- Architecture Style: Other
- Building Units: 6
- Cooling System: Window Unit(s)
- Cooling System: Wall/Window Unit(s)
- Exterior Type: Brick
- Floors: 3
- Heating System: Oil
- MLSID: 1008554
- Rooms: Basement
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