1062 Cypress Ave - Apartments FOR SALE


Ridgewood, NY 11385
$1,600,000 USD
212-396-8244
1062 Cypress Ave, Ridgewood, NY for Sale
$1,600,000 USD
Apartments - FOR SALE
1/11
null | 5.63% Cap Rate

1062 Cypress Ave
Ridgewood, NY 11385


HIGHLIGHTS

  • Short distance to public transportation
  • Located near multiple parks, schools, and small businesses

OVERVIEW

A 20’ wide vacant 4-unit two-story apartment building. The property as two units per floor. They are all two-bedroom apartments they are located to the front and back of the building. All the units have full kitchen & full bathroom, nice wood floors. They get great sunlight, the ceilings are ten feet, and the units are individually metered for cooking gas and electric. All the meters are in the basement. The property is a prime investment opportunity because all the units are free market and not subject to any rent regulations. An investor can renovate them and increase the rents. They can also give each tenant their own boiler and water heater. The property also makes a great user opportunity; a user can occupy the ground floor and convert it into a three-bedroom floor-through apartment. They rent out the second floor for income. They can also duplex the ground floor with the basement to create a duplex garden apartment.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$523 USD /SF

# OF UNITS

4

PRICE/UNIT

$400,000

CAP RATE

5.63%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,742 SF

ZONING

R6B

APN/PARCEL ID

03554-0055

ASK ABOUT THIS PROPERTY

Kervin ValesHalstead Property LLCMore Info
212-396-8244

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Kervin ValesHalstead Property LLCMore Info
212-396-8244

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.