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10430 39th Ave 8 Unit Apartment Building $2,762,136 CAD ($345,267 CAD/Unit) 6% Cap Rate Corona, NY 11368
Investment Highlights
- 100% Free Market - Expired 421A Tax Abatement
- Below Market Rents
- Good Cause Eviction Exempt (2009 CoO)
- Incredible Location - steps from Roosevelt Avenue and 7 Train
Executive Summary
104-30 39th Avenue is a rare opportunity to acquire a fully free-market, eight-unit multifamily asset in a prime, transit-oriented Queens location, now offered at $1,950,000. The property is being sold by its original developer, who has built more than ten buildings in Corona and whose track record of quality shows throughout this meticulously maintained asset.
Built in 2009, the 6,250-square-foot property features six two-bedroom and two one-bedrooms, individually metered for utilities. The 421-A Tax Abatement has fully expired with proper documentation, and the 2009 Certificate of Occupancy places the building outside Good Cause Eviction for more than 30 additional years. The rent roll is clean: zero arrears, with unit 2R delivered vacant and newly renovated.
Built in 2009, the 6,250-square-foot property features six two-bedroom and two one-bedrooms, individually metered for utilities. The 421-A Tax Abatement has fully expired with proper documentation, and the 2009 Certificate of Occupancy places the building outside Good Cause Eviction for more than 30 additional years. The rent roll is clean: zero arrears, with unit 2R delivered vacant and newly renovated.
Property Facts
| Price | $2,762,136 CAD | Property Subtype | Apartment |
| Price Per Unit | $345,267 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6% | Building Size | 6,250 SF |
| Gross Rent Multiplier | 8.8 | No. Stories | 4 |
| No. Units | 8 | Year Built | 2008 |
| Property Type | Multifamily | ||
| Zoning | R5A - A low-density, contextual residential zoning district in NYC (mapped in the Bronx, Brooklyn, and Queens) restricted to detached one- and two-family homes. | ||
| Price | $2,762,136 CAD |
| Price Per Unit | $345,267 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| Gross Rent Multiplier | 8.8 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 6,250 SF |
| No. Stories | 4 |
| Year Built | 2008 |
| Zoning | R5A - A low-density, contextual residential zoning district in NYC (mapped in the Bronx, Brooklyn, and Queens) restricted to detached one- and two-family homes. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 01776-0008 | Improvements Assessment | $625,383 CAD |
| Land Assessment | $175,084 CAD | Total Assessment | $800,467 CAD |
Property Taxes
Parcel Number
01776-0008
Land Assessment
$175,084 CAD
Improvements Assessment
$625,383 CAD
Total Assessment
$800,467 CAD
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10430 39th Ave
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