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W & C Plaza LLC Acquires 7-Unit Multifamily In Corona, Queens For $3.3M

Property Image
SOLD
$3,292,407

New York

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MultiFamily6,786 SF
Sold 11/03/2023
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SOLD

W & C Plaza LLC Acquires 7-Unit Multifamily In Corona, Queens For $3.3M

108-42 Roosevelt Avenue

See Similar Deals
MultiFamily6,786 SF
Sold 11/03/2023
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$485
Total Square Footage:6,786 SF
Transaction Type:Sale

Anrou Chen and Jinke Wang, operating through the entity W & C Plaza LLC, have acquired a seven-unit residential walkup building located at 108-42 Roosevelt Avenue in Corona, Queens. The property was sold for a total amount of $3,292,407, resulting in an average price per unit of $470,343. The building spans across 6,786 square feet, with an average price per square foot of $485.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,292,407
  • Address: 108-42 Roosevelt Avenue
  • Market: Corona, Queens
  • Buyer: Anrou Chen & Jinke Wang
  • Seller: John Po Sheng Hsu
  • Units: 7
  • Price per Unit: $470,343
  • Square Footage: 6,786
  • Price per Square Foot: $485

Anrou Chen and Jinke Wang, represented by their broker W & C Plaza LLC, successfully completed the acquisition of the seven-unit residential walkup building at 108-42 Roosevelt Avenue in Corona, Queens. The transaction showcases their commitment to expanding their real estate portfolio in the area.

Players

10 deals$35.3M volume
SELLER

Details

SOLD
IMAGE: 11/03/2023 ADDRESS: 108-42 Roosevelt Avenue MARKET: Corona, Queens ASSET TYPE: Multifamily BUYER: Anrou Chen & Jinke Wang SELLER: John Po Sheng Hsu SALE PRICE: $3,292,407 UNITS: 7 ~ PPU: $470,343 SF: 6,786 ~ PPSF: $485 NOTE: Anrou Chen and Jinke Wang, operating through the entity W & C Plaza LLC, have acquired the seven-unit residential walkup building (C7) at 108-42 Roosevelt Avenue in Corona, Queens, for $3.3 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$175,595.04

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,697.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,607.69
Annual Debt Service$187,292.27