$2,150,000
$1,875,000
14.7%For more information regarding the value of a property, please contact us for a free consultation.
7 Beds
6 Baths
SOLD DATE : 08/30/2024
Key Details
Sold Price $2,150,000
Property Type House
Sub Type Townhouse
Listing Status Sold
Purchase Type For Sale
Subdivision Ridgewood
MLS Listing ID RPLU-1635523156222
Sold Date 08/30/24
Bedrooms 7
Full Baths 6
HOA Y/N No
Year Built 1920
Annual Tax Amount $12,216
Property Description
Looking for a unicorn investment property? It is not often that youre 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 within 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.
Location
State NY
County Queens
Zoning R6B
Rooms
Basement Other
Ensuite Laundry Building Other
Interior
Laundry Location Building Other
Cooling Other
Fireplace No
Laundry Building Other
Exterior
View Y/N No
View Other
Porch None
Private Pool No
Building
Story 3
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $1, 018
Special Listing Condition Standard
Pets Description Building Yes, No
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RLS Data display by Elegran | Forbes Global Properties