38-21 99th Street presents a well-positioned multi-family investment opportunity in the heart of Corona, Queens, offering stable in-place income and strong rental demand. The property consists of nine residential units along with a basement unit, providing consistent cash flow in a highly active rental market. The building generates approximately $224,688 in annual gross operating income, including $24,888 from the basement unit and $199,800 from nine residential units. Operating expenses are approximately $32,000 annually, resulting in a net operating income (NOI) of approximately $192,688.
Strategically located in Corona, the property benefits from strong tenant demand, proximity to public transportation, local retail corridors, and easy access to surrounding neighborhoods including Flushing and Jackson Heights. This is an excellent opportunity for investors seeking a stable, income-producing asset with potential for long-term appreciation in a well-established Queens rental market.