Income-producing garage asset located in Ridgewood, Queens. The property features 14 garage units on a 5,200 SF lot with consistent and high vehicle storage demand. Zoned R5B with unused residential FAR, the property offers a clear value-add angle with up to approximately 4,220 buildable residential square feet. Built in 1930, the asset benefits from low operating complexity, stable cash flow potential, and a strong land component. Situated within a well-established Ridgewood corridor near major transit access, this location supports steady and passive income plus future upside for investors in Queens.
6444 Palmetto Street, Ridgewood, NY, 11385
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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