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The Queens Multifamily Portfolio - Availability Details

35-20 108th Street, Queens, NY 11368

  • For Sale $9,410,000
  • City Queens
  • Neighborhood Corona
  • Zip Code 11368
  • Property Type Multi-Family
  • Property Size 39,352 Sqft
  • Lot Size 0.28 Acre
  • Date Updated 24 Jul, 2020

Ariel Property Advisors presents the Queens Multifamily Portfolio, a rare offering that consists of 3 four-story walk up buildings all conveniently located within a fifteen minute walk of each other in Corona, Queens.

Spanning 39,352 gross square feet in total, the portfolio contains 49 residential units, 2 retail units and has additional income from two antenna installations. The residential units consist of 1 three-bedroom, 12 two-bedroom and 36 one-bedroom apartments. There are 2 free market units and 47 rent stabilized units. With regards to the rent stabilized units there is significant near-term upside via preferential rents that could be utilized in the future. All buildings generate stable income with upside and have very low vacancy.

The three buildings are located within an 8-block radius in the heart of Corona. The 7-train running along Roosevelt Avenue is a short walk from each building and can be accessed at three separate stops: Junction Blvd., 103rd St.-Corona Plaza and 111th St. The neighborhood is home to the Louis Armstrong Museum and the Queens Library of Corona and Hinton Park. Major retailers and a wide array of diverse eateries can be found along Queens Boulevard and the 103rd Street Corridor.

Situated conveniently within Corona, the Queens Multifamily Portfolio presents investors with the opportunity to acquire 3 well-maintained properties with strong cash flow and near-term upside.

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Contacts

broker

Michael A. Tortorici

Ariel Property Advisors

(212) 544-9500 x 13

broker

Alexander Taic

Ariel Property Advisors

(212) 544-9500 x 44

broker

Shimon Shkury

Ariel Property Advisors

(212) 544-9500 x 11

broker

Victor Sozio

Ariel Property Advisors

(212) 544-9500 x 12

broker

John Higgins

Ariel Property Advisors

(212) 544-9500 x 58

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