Updated Dec 4, 2024
Xin Yun Bao Acquires 7-Unit Multifamily Building In Corona, Queens For $3.2M
108-48 Roosevelt Avenue
$3,200,000
$471/SF
Building Size
6,786 SF
Asset Type
MultiFamily
Closing
Oct 31, 2023
About this deal
AI
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.
Players
Corona MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93