35-20 108th Street

Ariel Property Advisors presents 35-20 108th Street, a four-story, 40’ wide walk-up building located between 34th Avenue and 37th Avenue in Corona, Queens. The 10,304 gross square feet building contains 15 residential units with an average of 500 square feet per unit. The unit mix consists of 13 one-bedroom, 1 two-bedroom and 1 three-bedroom apartments. There is 1 free market unit and the remaining 14 units are all rent stabilized, with 8 of them having preferential rent status. There is significant near-term upside via preferential rents that could be utilized in the future. The multifamily building is conveniently located in the heart of Corona, Queens. Roosevelt Avenue is a short walk from the building and offers plenty of retail options and transportation. The 7-train can be accessed at 111th Street offering access to Manhattan and the Q48 bus runs along Roosevelt Avenue serving the immediate neighborhood as well. The area is also home to C-Town Supermarket, Blink Fitness and other neighborhood destinations such as the Louis Armstrong House Museum and Louis Armstrong Park. 35-20 108th Street presents investors with an opportunity to acquire a well-maintained property with low vacancy, strong cash flow and near-term upside.