Investment Overview

Marcus & Millichap is pleased offer 48-08 108th Street, a fully rent-stabilized 23-unit multifamily asset in the heart of Corona, Queens, offering a clear, executable business plan rarely found in stabilized product. The property features two on-site cell tower leases (T-Mobile and AT&T) producing approximately $65,000 in annual income. Because telecom infrastructure trades at a materially higher cap rate than rent-stabilized multifamily, a buyer has the option to sell the cell sites separately, significantly reducing basis while retaining the core asset. Additional upside exists through monetizing basement storage and through approximately $120,000 in annual preferential rent, which can be recaptured organically over time through natural lease renewals or tenant turnover.