Vacant Three Family and Buildable Lot 453-455 Fairview Ave

3 Unit Apartment Building $3,781,470 CAD ($1,260,490 CAD/Unit) 4.84% Cap Rate Ridgewood, NY 11385

EXECUTIVE SUMMARY

Welcome to the Ridgewood section of Queens borderline Bushwick.
The subject property consists of a renovated Vacant Three Family Brick Building, 3 Stories, Semi Detached, and parking lot with 5 indoor / 5 outdoor private parking spaces. The building is 20’ x 55’ (Approx. 3,300 SqFt) on a 50’ x 95’ lot (4,750 SqFt) and is Zoned R6B.
In addition, this property offers the opportunity to build an additional 6,200 SqFt. Please consult with your architect to confirm what can be built.
Conveniently located a few minutes away from the M Subway Line, offering quick and easy access to both Brooklyn and Manhattan. It is also situated within a short distance to an array of new restaurants, bars, cafes, and shopping.
This well-maintained building offers endless opportunity for an end user or investor/developer looking to be part of this neighborhood in Ridgewood.
Lot: 50 ft x 95 ft. Building: 20 ft x 55 ft. Approx. Building Sq Ft: 3,300. Ext. Annual Taxes: $11,595. Est. Gross Annual Income: $147,000. Built: 1940. Zoning: R6B. Stories: 3.
Schedule appointments through listing agent Giuseppe Montalbano (347) 585-7953.

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

ANNUAL (CAD) ANNUAL PER SF (CAD)
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

PROPERTY FACTS

Price $3,781,470 CAD
Price Per Unit $1,260,490 CAD
Sale Type Investment
Cap Rate 4.84%
No. Units 3
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Lot Size 0.05 AC
Building Size 3,300 SF
Average Occupancy 100%
No. Stories 3
Year Built/Renovated 1920/2023
Parking Ratio 3.03/1,000 SF

UNIT AMENITIES

  • Dishwasher
  • Storage Space
  • Eat-in Kitchen
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Views
  • Yard
  • Basement
  • Dining Room
  • Family Room
  • Garden
  • Intercom
  • Skylights

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
8+3 3 - 3,300
Walk Score®
Very Walkable (81)
Transit Score®
Excellent Transit (85)
Bike Score®
Very Bikeable (70)

ZONING

Zoning Code R6B
  • Listing ID: 34460943

  • Date on Market: 2025-01-12

  • Last Updated:

  • Address: 453-455 Fairview Ave, Ridgewood, NY 11385