Property Description

Rare opportunity to own an income-producing five-family in the heart of Corona. This detached three-story brick building (approx. 3,750 SF on a 2,500 SF lot, built 1931, R5 zoning, Class C2) offers light and air on all four sides, a private paved side driveway with off-street parking, and balconies serving the upper units.The building is fully occupied with five identical two-bedroom, one-bath apartments - one on the first floor and two each on the second and third - producing $9,211/month ($110,532/year) in gross rent or a 5.5% cap. Six separate electric meters keep tenants responsible for their own electric; landlord covers water and gas. No basement means a straightforward, low-maintenance footprint with a modest expense load. Insurance approx. $4,500, water $5,000, gas $6,000, repairs/maintenance $6,000; 2027 real estate taxes $42,050 per NYC DOF. Sold with tenants in place.The location speaks for itself: a short walk to the 7 train at 103 St-Corona Plaza, the Roosevelt Avenue and National Street retail corridors, and Flushing Meadows-Corona Park, with quick access to the Grand Central Parkway, LIE and LaGuardia!

Property Features

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