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$ 3,075,000
Est. payment /mo
Pending
566 ONDERDONK AVENUE Ridgewood, NY 11385
5 Baths
5,625 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status pending
Purchase Type For Sale
Square Footage 5,625 sqft
Price per Sqft $546
MLS Listing ID 11662546
Full Baths 4
Half Baths 2
Year Built 1931
Lot Size 2,500 Sqft
Property Description
Corner mixed-use building in a strong residential and retail corridor Free market, income-producing asset Fully gut-renovated building Four spacious two-bedroom apartments with hardwood floors Two established commercial spaces (daycare and restaurant) Fully finished basement featuring two offices and a private bathroom 5,625 SF building (approx) First floor is ~25'x100', second and third floor are 25'x64' Strong in-place income: $255,954.00. annual gross with upside NOI: $202,597.00. 6.59% cap rate at asking 7.06% potential cap rate Well maintained and professionally managed Stable tenant mix Commercial tenants cover 40% of property taxes + 50% of DEP Charges Surrounded by established restaurants, cafés, and neighborhood businesses Minutes to Bushwick and Williamsburg, blocks from the L and M trains. Exceptional long-term investment opportunity in one of Queens' most sought-after neighborhoods All boilers replaced within the last 5 years Plumbing systems upgraded within approximately the last 20 years Electrical systems upgraded within approximately the last 20 years Exterior masonry pointed within approximately the last 20 years Major capital improvements already completed Mechanically modernized with low deferred maintenance profile
Location
State NY
County 36081
Rooms
Dining Room 0
Kitchen 0
Building
Story 3
Tenisha Davis, Licensed Real Estate Broker
Licensed Real Estate Broker - GRI, ABR, CBR, SFR, SRS - Notary Public