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Xin Yun Bao Acquires 7-Unit Multifamily Building In Corona, Queens For $3.2M
SOLD
$3,200,000
New York
See Similar DealsMultiFamily6,786 SF
Sold 10/31/2023
SOLD
Xin Yun Bao Acquires 7-Unit Multifamily Building In Corona, Queens For $3.2M
108-48 Roosevelt Avenue
See Similar DealsMultiFamily6,786 SF
Sold 10/31/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$471
Total Square Footage:6,786 SF
Transaction Type:Sale
A seven-unit residential walkup building located at 108-48 Roosevelt Avenue in Corona, Queens has been sold for $3.2 million. The property spans 6,786 square feet, resulting in a price per square foot of $472. It consists of multifamily units, offering a total of 7 units with an average price of $457,143 per unit.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,200,000
- Address: 108-48 Roosevelt Avenue, Corona, Queens
- Market: Corona, Queens
- Buyer: Xin Yun Bao
- Seller: John Po Sheng Hsu
Xin Yun Bao, represented by An Wen Realty LLC, has acquired the property from John Po Sheng Hsu's entity, 111 Roosevelt Development LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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