35-12 99th St

Ariel Property Advisors presents 35-12 99th Street, a four story, 35’ wide walk-up building located between 35th Avenue and 37th Avenue in Corona, Queens.

The 11,108 gross square feet building contains 16 residential units with an average of 705 square feet per unit. The unit mix consists of 13 one-bedroom and 3 two-bedroom apartments. There is 1 free market unit and the remaining 15 units are all rent stabilized, with 9 of them having preferential rent status. There is significant near-term upside via preferential rents that could be utilized in the future and the property features an antenna that brings in addtional income.

The multifamily building is conveniently located in the heart of Corona, Queens. The vibrant retail corridor along Junction Boulevard is a short walk from 99th Street and home to GameStop, RiteAid, Chase Bank and Food Bazaar Supermarket. The area also offers multiple eateries such as McDonald's, Subway, Taco Bell and Baskin Robbins. At the corner of Junction Boulevard and Roosevelt Avenue is the 7 train subway stop offering access to Manhattan as well throughout Queens.

35-12 99th Street presents investors with an opportunity to acquire a well-maintained property with strong cash flow and near-term upside.