Looking For A Unicorn Investment Property? It Is Not Often That You’re Able To Find A Massive Legal Five Family Building That Is In Excellent Shape, Can Be Delivered Vacant At Closing And Is In A Prime-time Neighborhood. This Building Is 4, 200 Square Feet, It Is Comprised Of Four Two-bedroom Railroad Style Apartments And One Enormous True Three Bedroom, Two Bath Apartment With Access To The Backyard. There Is Also A Full Basement, With Multiple Coin Operated Washing Machines And Updated Mechanicals. This Building Is 25x56 And Sits On A 25x95 Lot And I Zoned R6b. You Are Located In Prime Ridgewood, Just Outside The Landmarked District And With In Blocks Of The L And M Train. Being This Is Such A Great Location; You Should Never Have A Vacancy. The Expenses Are Currently Just Under $30, 000 A Year And Potential Rent Roll Is Close To $190, 000 A Year. You Should End Up With A 7-7.5% Cap Rate On This Building. This Could Also Be A Great Condo Conversion, Whether It Is Now Or If You Hold It And Do It In The Future. This Is A Perfect 1031 Situation.
Property Information
Location/Town
Ridgewood
Area/County
Queens
Prop. Type
Multi-Family for Sale
Style
Attached
Tax
$12,222.00
Bedrooms
11
Total Baths
5
SqFt
4,200
# of Cars
None
Basement
Full
Exterior
Brick
Roof
Flat
Construction
Block
Foundation
Block
Yard
Back
Lot SqFt
2,375
Heat
Steam/Radiator
Electric
200 Amp
Roof
Flat
Zoning
R6B
Features
Laundry area, refrigerator, stove, washer
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