Corona Queens - Mixed-Use Buildings - 9.4%cap | 3717-3719 108th St
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Corona Queens - Mixed-Use Buildings - 9.4%cap 3717-3719 108th St
14 Unit Apartment Building $3,000,000 ($214,286/Unit) 9.40% Cap Rate Corona, NY 11368
Investment Highlights
- 2 contiguous 4 story mixed use buildings with 14 rent stabilized residential apartments and 2 commercial units.
- Each commercial unit is slightly below grade with small elevator and handi-cap accesible platform lift.
- Each apartment has its own boiler and HVAC unit, some units have a balcony.
Executive Summary
2 Contiguous Mixed-Use Buildings
37-17 & 37-19 108th Street, Corona, Queens, NY!
Property Highlights:
?? 2 Four Story Mixed-Use Buildings.
?? 14 Rent Stabilized Residential Units.
?? Two Ground Floors Commercial Units.
?? Square Footage: 15,068
?? Built in 2008
??Price Per Square Foot: $ 199
37-17 & 37-19 108th Street, Corona, Queens, NY!
Property Highlights:
?? 2 Four Story Mixed-Use Buildings.
?? 14 Rent Stabilized Residential Units.
?? Two Ground Floors Commercial Units.
?? Square Footage: 15,068
?? Built in 2008
??Price Per Square Foot: $ 199
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$459,240
|
$30.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$459,240
|
$30.48
|
| Taxes |
$109,706
|
$7.28
|
| Operating Expenses |
$67,362
|
$4.47
|
| Total Expenses |
$177,068
|
$11.75
|
| Net Operating Income |
$282,172
|
$18.73
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $459,240 |
| Annual Per SF | $30.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $459,240 |
| Annual Per SF | $30.48 |
| Taxes | |
|---|---|
| Annual | $109,706 |
| Annual Per SF | $7.28 |
| Operating Expenses | |
|---|---|
| Annual | $67,362 |
| Annual Per SF | $4.47 |
| Total Expenses | |
|---|---|
| Annual | $177,068 |
| Annual Per SF | $11.75 |
| Net Operating Income | |
|---|---|
| Annual | $282,172 |
| Annual Per SF | $18.73 |
Property Facts
| Price | $3,000,000 | Apartment Style | Mid Rise |
| Price Per Unit | $214,286 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 9.40% | Building Size | 15,068 SF |
| Gross Rent Multiplier | 6.5 | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2008 |
| Property Subtype | Apartment |
| Price | $3,000,000 |
| Price Per Unit | $214,286 |
| Sale Type | Investment |
| Cap Rate | 9.40% |
| Gross Rent Multiplier | 6.5 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 15,068 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 2008 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 400 - 600 |
| 1+1 | 4 | - | 550 |
| 2+2 | 8 | - | 800 |
Walk Score ®
Walker's Paradise (93)
Transit Score ®
Excellent Transit (84)
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $877,516 | |
| Land Assessment | $21,802 | Annual Taxes | $109,706 ($7.28/SF) |
| Improvements Assessment | $855,714 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$21,802
Improvements Assessment
$855,714
Total Assessment
$877,516
Annual Taxes
$109,706 ($7.28/SF)
Tax Year
2024
zoning
| Zoning Code | C1-4 / R6BBlock |
| C1-4 / R6BBlock |
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Corona Queens - Mixed-Use Buildings - 9.4%cap | 3717-3719 108th St
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