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1715 Bleecker St 6 Unit Apartment Building $1,400,000 ($233,333/Unit) 7.84% Cap Rate Ridgewood, NY 11385
Investment Highlights
- Fully Rent Stabilized
Executive Summary
Investment Property Realty Group (IPRG) has been exclusively retained to sell 17-15 Bleecker Street. This opportunity offers investors the opportunity to acquire a fully rent-stabilized, six-unit multifamily building in the heart of Ridgewood, Queens, one of New York City’s most consistent and supply-constrained rental markets.
The asset is offered at a 7.84% capitalization rate and an attractive $287 per square foot, providing strong in-place cash flow at a compelling basis. All six apartments are rent stabilized, creating a durable income stream with historically low turnover and predictable operating performance.
Located on a quiet residential block, the property benefits from Ridgewood’s continued demand driven by its proximity to Bushwick, expanding retail corridors, and convenient access to public transportation. The neighborhood’s long-term tenant base and limited new multifamily supply support stable occupancy and resilient collections.
17-15 Bleecker Street is well suited for investors seeking defensive yield, long-term cash flow, and exposure to a proven Queens multifamily market at an attractive entry point.
The asset is offered at a 7.84% capitalization rate and an attractive $287 per square foot, providing strong in-place cash flow at a compelling basis. All six apartments are rent stabilized, creating a durable income stream with historically low turnover and predictable operating performance.
Located on a quiet residential block, the property benefits from Ridgewood’s continued demand driven by its proximity to Bushwick, expanding retail corridors, and convenient access to public transportation. The neighborhood’s long-term tenant base and limited new multifamily supply support stable occupancy and resilient collections.
17-15 Bleecker Street is well suited for investors seeking defensive yield, long-term cash flow, and exposure to a proven Queens multifamily market at an attractive entry point.
Property Facts
| Price | $1,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $233,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 7.84% | Building Size | 4,875 SF |
| Gross Rent Multiplier | 8.43 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | ||
| Zoning | R6B - Medium density residential district | ||
| Price | $1,400,000 |
| Price Per Unit | $233,333 |
| Sale Type | Investment |
| Cap Rate | 7.84% |
| Gross Rent Multiplier | 8.43 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 4,875 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1930 |
| Zoning | R6B - Medium density residential district |
Amenities
Unit Amenities
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Walk Score®
Walker's Paradise (94)
Transit Score®
Rider's Paradise (99)
Bike Score®
Very Bikeable (83)
Property Taxes
| Parcel Number | 03436-0067 | Improvements Assessment | $135,598 |
| Land Assessment | $2,260 | Total Assessment | $137,858 |
Property Taxes
Parcel Number
03436-0067
Land Assessment
$2,260
Improvements Assessment
$135,598
Total Assessment
$137,858
Contacts
-
Justin Zeitchik -
Derek Bestreich -
Steve Reynolds -
Tom Reynolds -
Brian Davila -
Investment Property Realty Group
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1715 Bleecker St
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