$2,880,000
( $527.09Per Sq Foot )
 $15,460 est/mo Sourced by Back At You

112-42 38 Avenue,Corona, NY 11368

Corona, NY 11368

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Description

Excellent Investment OpportunityPrime location with strong appreciation potential as the nearby casino development moves forward.All units rented at market rates.Property DetailsLot Size: 25’ × 100’Building Size: 25’ × 51’ (Approx. 5,294 SF)Built in 2018Zoning: R6Unit Mix6 Two-Bedroom / One-Bath units2 One-Bedroom / One-Bath unitsA neighboring building with the same layout has already been converted into 8 individual condominium units, generating an estimated $3 million in net profit.Separate Utilities8 Water Meters8 Gas Meters9 Electric Meters8 Heating Systems8 Hot Water HeatersInvestment HighlightsFully occupied with excellent tenantsRent receipts available (no written leases)Potential for future rent increasesAnnual Gross Income: Approx. $210,000Estimated Cap Rate: 5% - 6%Outstanding LocationJust a 2-block walk to the bustling Roosevelt Avenue / 7 Train station.Close to supermarkets, restaurants, Citi Field, and numerous neighborhood amenities.

Details

MLS #1031301
Listing TypeFor Sale
StyleMulti-Family
Sub-TypeResale
StatusActive
Year2018
Days On Site85
Listing Provided ByE Realty International Corp | Fenger Zou

Features

SQ Feet5,464
BasementY
Units8
ZoningR6
Acreage0.06

Interior

CoolingElectric
HeatingNatural Gas

Exterior

Construction MaterialsBrick

Parking

Parking FeaturesNone

Utilities

UtilitiesSee Remarks
SewerPublic Sewer

Taxes

Tax Year2026
Tax Annual Amount44424

Area Information

StateNY
CountyQueens
CityCorona
Zip Code11368
Listing VS Median (in 11368)
Price:
$2,880,000
low | high
Med:
$854,500
100% of Average
sqft:
5,464
low | high
Med:
2,708
100% of Average
$ / sqft:
$527
low | high
Med:
$371
79.557816420754% of Average
On site:
85
low | high
Med:
68
100% of Average
Sourced by Back At You

Market Activity 11368

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Learn More About This Property

Newburgh Office

Newburgh Office

 (845) 565-2800info@johnjleaserealtors.com
StateNY
CountyQueens
CityCorona
Zip Code11368
Listing VS Median (in 11368)
Price:
$2,880,000
low | high
Med:
$854,500
100% of Average
sqft:
5,464
low | high
Med:
2,708
100% of Average
$ / sqft:
$527
low | high
Med:
$371
79.557816420754% of Average
On site:
85
low | high
Med:
68
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $2.16M - $3.6M
sqft: 4,000 - 6,500
Nearby Listings Property ImageNearby Listings Details
112-39 38ave Property Photo 1
$2,680,000
112-39 38ave
Corona, NY 11368
Listing Updated: July 28, 2026 at 9:08:45 AM PDT
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