609 Seneca Ave - Apartments FOR SALE


Ridgewood, NY 11385
$3,500,000 USD
516-279-8828
609 Seneca Ave, Ridgewood, NY for Sale
$3,500,000 USD
Apartments - FOR SALE
1/16
null | 6.45% Cap Rate

609 Seneca Ave
Ridgewood, NY 11385


HIGHLIGHTS

  • Calling All Investors, Developers, & End-Users!!! 6,500 Sqft. 6 Unit Apartment Building In Ridgewood For Sale!!!
  • The Property Features Excellent Signage, Great Exposure, R6B/C1-4 Zoning, High Ceilings, 6 Parking Spaces, Separate Meters, Low Property Taxes, +++!!!
  • The Property Is Located In The Heart Of Ridgewood In Between Fresh Pond Road, Myrtle Avenue & Metropolitan Avenue!!!
  • Neighbors Include Chase Bank, TD Bank, Northwell Health, Extra Space Storage, Stop & Shop, BJ’s, Key Food, Raymour & Flanigan, Pep Boys, +++!!!
  • This Property Offers HUGE Upside Potential!!!
  • This Could Be Your Next Development Site / The Next Home For Your Business!!!

OVERVIEW

Calling All Investors, Developers, & End-Users!!! 6,500 Sqft. 6 Unit Apartment Building In Ridgewood For Sale!!! The Property Features Excellent Signage, Great Exposure, R6B/C1-4 Zoning, High Ceilings, 6 Parking Spaces, Separate Meters, Low Property Taxes, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Ridgewood Minutes From Queens Center & The Metro Mall!!! The Property Is Situated In Between Fresh Pond Road, Myrtle Avenue & Metropolitan Avenue!!! Neighbors Include Chase Bank, TD Bank, Northwell Health, Extra Space Storage, Stop & Shop, BJ’s, Key Food, Raymour & Flanigan, Pep Boys, Enterprise Rent-A-Car, Hertz, Blink Fitness, Tiger Schulmann’s Martial Arts, Wendy’s, Taco Bell, CVS, Qdoba, White Castle, KFC, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site / The Next Home For Your Business!!! Income: 1R (2 Br. Duplex): $37,200 Ann.; M-M 1L (2 Br. Duplex).: $48,000 Ann.; M-M. 2R (2 Br. Apt.): $43,800 Ann.; Lease Exp.: 8/31/25. 2L (2 Br. Apt.): $40,800 Ann.; M-M. 3R (2 Br. Apt.): $42,000 Ann.; Lease Exp.: 4/30/26. 3L (2 Br. Apt.): $40,800 Ann.; Lease Exp.: 7/31/25. Gross Income: $252,600 Ann. Expenses: Gas: $0 Ann. Electric: $0 Ann. Hot Water Heater: $3,000 Ann. Maintenance & Repairs: $250 Ann. Water & Sewer: $4,800 Ann Insurance: $3,830 Ann. Taxes: $15,096.40 Ann. Total Expenses: $26,976.40 Ann. Net Operating Income (NOI): $225,623.60 Ann. (6.45% Cap!!!)

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$718 USD /SF

# OF UNITS

6

PRICE/UNIT

$583,333

CAP RATE

6.45%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,412 SF

ZONING

R6B/C4-1

APN/PARCEL ID

03439-0006

ASK ABOUT THIS PROPERTY

Matthew ShaneAll Island CommercialMore Info
516-279-8828

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Matthew ShaneAll Island CommercialMore Info
516-279-8828

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