Cushman & Wakefield has been retained on an exclusive basis for the sale of the subject property, a 16-unit multifamily building in Corona. The building is 100% leased including the retail units on the ground floor.
The building sits on two adjacent tax lots on 108th Street between 37th Avenue and 37th Drive. The 14 residential units is a mix of (2) studios, (4) one-bedrooms, (6) two-bedrooms, and (2) three-bedrooms. All units are equipped with granite kitchen countertops, marble bathroom, hardwood floors, and central heating/cooling system. The building also has elevator access from the ground floor to the second floor. Construction was finished in mid 2014. Rare tax abatement with 20+ years remaining which equates to over $2 Million in savings.
The 7 train at 103rd Street is located just three blocks away, which provides convenience and constant commercial activity and foot traffic; ideal for retail and residential tenants.
This property is a rare product in today’s market with great cash flow and high-quality construction.