$2,150,000

Est. Mortgage $11,443/mo *

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477 Fairview Avenue, #1, Queens, (Ridgewood), NY, 11385

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15 rooms

7 beds

6 Full baths

1920

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 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.

Status:

Active

Town:

Queens

Type:

Condo/Coop

Laundry Remarks:

InBasement

Zoning:

R6B

Building Type:

Townhouse

Cooling:

Unknown Type

Levels:

Maintenance:

0.0000

Pet Policy:

Pets Allowed

Building Access:

Walk-up

Service Level:

Voice Intercom

Built Size:

25'x56'

OLR #:

PRCH7855009

Community Info

School Info

Walk Score

Mass Transit

Yelp

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477 Fairview Avenue, #1, Queens, (Ridgewood), NY, 11385

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