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1676 Jefferson Ave 4 Unit Apartment Building $2,500,000 ($625,000/Unit) 6.26% Cap Rate Ridgewood, NY 11385
Investment Highlights
- Gut renovated 4-Unit multifamily property in Ridgewood, Queens
- The property offers four, gut-renovated apartments. All of the apartments are free market.
- The high-end renovation gives the building a very modern feel.
- The subject property is located between Wyckoff Avenue and Cypress Avenue
- Units 1R and 1L are duplexed. There are thirteen bedrooms, 11 bathrooms, laundry facilities, and an indoor gym available for all tenants
- The property is built 25 ft x 56 ft, offering approximately 2,800 square feet. 16-76 Jefferson Avenue sits on a 25 ft x 100 ft lot
Executive Summary
Investment Property Realty Group (IPRG) has been exclusively retained to sell 16-76 Jefferson Avenue. The subject property is located between Wyckoff Avenue and Cypress Avenue in Ridgewood, Queens.
The property offers four, gut-renovated apartments. All of the apartments are free market. Units 1R and 1L are duplexed. There are thirteen bedrooms, 11 bathrooms, laundry facilities, and an indoor gym available for all tenants. The high-end renovation gives the building a very modern feel.
The property is built 25 ft x 56 ft, offering approximately 2,800 square feet. 16-76 Jefferson Avenue sits on a 25 ft x 100 ft lot.
The property is located within walking distance to the L & M Subway Lines.
The property offers four, gut-renovated apartments. All of the apartments are free market. Units 1R and 1L are duplexed. There are thirteen bedrooms, 11 bathrooms, laundry facilities, and an indoor gym available for all tenants. The high-end renovation gives the building a very modern feel.
The property is built 25 ft x 56 ft, offering approximately 2,800 square feet. 16-76 Jefferson Avenue sits on a 25 ft x 100 ft lot.
The property is located within walking distance to the L & M Subway Lines.
Property Facts
| Price | $2,500,000 | Property Subtype | Apartment |
| Price Per Unit | $625,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.26% | Lot Size | 0.06 AC |
| Gross Rent Multiplier | 13.14 | Building Size | 2,800 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1931 |
| Zoning | R5B - Multi-family four (4) family walk-up apartment building | ||
| Price | $2,500,000 |
| Price Per Unit | $625,000 |
| Sale Type | Investment |
| Cap Rate | 6.26% |
| Gross Rent Multiplier | 13.14 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 2,800 SF |
| No. Stories | 2 |
| Year Built | 1931 |
| Zoning | R5B - Multi-family four (4) family walk-up apartment building |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Kitchen
- Hardwood Floors
- Oven
- Stainless Steel Appliances
- Range
Site Amenities
- Fitness Center
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 2 | - | 700 |
| 3+2.5 | 1 | - | 1,400 |
| 4+2.5 | 1 | - | 1,400 |
1 1
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03548-0051 | Improvements Assessment | $67,303 |
| Land Assessment | $5,951 | Total Assessment | $73,254 |
Property Taxes
Parcel Number
03548-0051
Land Assessment
$5,951
Improvements Assessment
$67,303
Total Assessment
$73,254
Contacts
-
Donal Flaherty -
Derek Bestreich -
Steve Reynolds -
Tom Reynolds -
Brian Davila -
Investment Property Realty Group
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1676 Jefferson Ave
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