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7101 Cooper Avenue, Ridgewood, NY 11385 Fully Occupied 3-Family | Built 2005 | 3, 507 Sq Ft | Package Deal Opportunity Exceptional opportunity to acquire a fully occupied, income-producing 3-family property in the heart of Ridgewood. Constructed in 2005, this modern 20 x 54 building offers approximately 3, 250 square feet of livable space, featuring well-proportioned boxed rooms throughout for maximum layout efficiency and rental appeal. Each unit includes: Renovated kitchens Updated bathrooms High-efficiency lighting Clean, modern finishes Tenants are responsible for their own gas, electric, and heat, keeping operating expenses streamlined. The owner covers only property taxes, water, and insurance — creating a predictable and investor-friendly expense structure. The second and third-floor units each feature private balconies, while the first-floor unit enjoys direct access to the backyard — a strong tenant retention feature. Additional Value-Add Potential The property also offers: Opportunity to create a recreational space in the basement Potential to duplex the first floor with the basement (subject to approvals) This provides flexibility for increased rental income or an enhanced owner-user configuration. Rare Package Deal Opportunity This property is being offered together with the adjacent building, creating a rare assemblage opportunity that includes: Four total parking spaces Two-car garage Additional outdoor parking Backyard space Income-producing properties with dedicated parking in Ridgewood are increasingly scarce — making this a standout portfolio acquisition. Ideal For: • Investors seeking stable cash flow • 1031 exchange buyers • Portfolio expansion • End-users looking to offset mortgage with rental income Located in prime Ridgewood near transportation, shopping, restaurants, and neighborhood amenities. A rare opportunity to secure a well-built (2005) income-producing asset with expansion potential in one of Queens’ strongest rental markets.
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.
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Our Executive Mortgage Banker:
$1,595,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,276,000 | $1,276,000 | $1,276,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.375% | 6.125% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.117% | 6.235% | 6.058% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $7,145 | $7,753 | $10,682 |
| Total Monthly Payment | $7,270 | $7,878 | $10,807 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first 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.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.