For Sale
$3,500,000

21-22 Cornaga AveQueens, NY 11691

Nine-unit apartment building with strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
121
This exceptional investment opportunity presents three mixed-use buildings located at 21-18, 21-20, and 21-22 Cornaga Avenue in Queens, New York, 11691. The property boasts a total of 12,420 square feet, encompassing nine residential units and three ground-floor commercial spaces. Each building features a three-story structure, with two apartments on the second and third floors and a single commercial storefront on the ground floor. Built in 1930, the buildings sit on a 4,725 square foot lot and are zoned R5. The property currently enjoys 100% occupancy, generating a substantial net operating income (NOI) of $299,000 annually, or $9,000 per month. The net rentable square footage is 4,140 square feet. This well-maintained property offers a compelling investment opportunity with significant potential for future growth and appreciation in a desirable Queens location. The asking price is $3,500,000. This is a rare chance to acquire a stable, high-performing multifamily asset with established income streams and significant upside potential. Serious inquiries only.

Highlights

  • $3,500,000 asking price for a mixed-use, multifamily property.
  • 12,420 total square feet, with 4,140 square feet net rentable.
  • Nine units, 100% occupancy, generating $299,000 NOI.
  • Three buildings, three stories each, built in 1930, on a 4,725 square foot lot.
  • Located at 21-22 Cornaga Ave, Queens, NY 11691, zoned R5.

Property Details for 21-22 Cornaga Ave

Property type
Mixed-use properties, Apartment buildings
Square Feet
12,420 SF
Year Built
1930
Buildings
3
Stories
3
Units
9

Location Insight

City
Queens
County
Queens
State
New York
Latitude
40.602195142466
Longitude
-73.754910050008
21-22 Cornaga Ave, Queens, New York

FAQs

What type of property is this?
Mixed-use property - Nine-unit apartment building with strong NOI.
Where is the mixed-use property located?
The property is located at 21-22 Cornaga Ave Queens, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: $3,500,000 asking price for a mixed-use, multifamily property.; 12,420 total square feet, with 4,140 square feet net rentable.; Nine units, 100% occupancy, generating $299,000 NOI.
How can I contact the broker?
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21-22 Cornaga Ave
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