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1624 Summerfield St 4 Unit Apartment Building Offered at $1,680,000 Ridgewood, NY 11385
INVESTMENT HIGHLIGHTS
- Rare 4-unit condominium in Ridgewood
EXECUTIVE SUMMARY
Sponsor sale for 3 out of the 4 units in the building; units offered are 1R, 2R and 2L. Each unit is a 2 bed 2 bath; 1st floor units have yard and 2nd floor units have balconies. No rent regulations. Current monthly rents 1R $3,000, 2R $2,900, 2L $2,600.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$102,000
|
$34.96
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$102,000
|
$34.96
|
| Taxes |
$6,856
|
$2.35
|
| Operating Expenses |
$6,480
|
$2.22
|
| Total Expenses |
$13,336
|
$4.57
|
| Net Operating Income |
$88,664
|
$30.39
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $102,000 |
| Annual Per SF | $34.96 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $102,000 |
| Annual Per SF | $34.96 |
| Taxes | |
|---|---|
| Annual | $6,856 |
| Annual Per SF | $2.35 |
| Operating Expenses | |
|---|---|
| Annual | $6,480 |
| Annual Per SF | $2.22 |
| Total Expenses | |
|---|---|
| Annual | $13,336 |
| Annual Per SF | $4.57 |
| Net Operating Income | |
|---|---|
| Annual | $88,664 |
| Annual Per SF | $30.39 |
PROPERTY FACTS
| Price | $1,680,000 | Property Type | |
| Price Per Unit | $420,000 | Building Size | 2,918 SF |
| Sale Type | Investment | No. Stories | 2 |
| Sale Condition | Bulk/Portfolio Sale | Year Built | 1930 |
| No. Units | 4 |
| Price | $1,680,000 |
| Price Per Unit | $420,000 |
| Sale Type | Investment |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 4 |
| Property Type | |
| Building Size | 2,918 SF |
| No. Stories | 2 |
| Year Built | 1930 |
AMENITIES
UNIT AMENITIES
- Balcony
- Storage Space
- Yard
SITE AMENITIES
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 3 | - | 2,211 |
1 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Rider's Paradise (95)
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1624 Summerfield St
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