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Ridgewood Six 1881 Putnam Ave 6 Unit Apartment Building $1,499,000 ($249,833/Unit) 5.71% Cap Rate Ridgewood, NY 11385
INVESTMENT HIGHLIGHTS
- Prime location surrounded by public transportation and retailers
- total deliver 3 vacant
- 1 unit free market, delivering vacant
EXECUTIVE SUMMARY
Large 6-family building located in the heart of Ridgewood, just 1 minute walk to the M train station.
Unit configuration includes 1 free-market unit, 4 rent-stabilized units, and 1 rent-controlled unit, offering both stable cash flow and upside potential. Could deliver at least 2 units vacant.
Building size 27.5’ × 68’ with approximately 5,600 SF of living space, plus a full walk-out basement.
Excellent long-term investment with strong rental demand and value-add opportunities.
Unit configuration includes 1 free-market unit, 4 rent-stabilized units, and 1 rent-controlled unit, offering both stable cash flow and upside potential. Could deliver at least 2 units vacant.
Building size 27.5’ × 68’ with approximately 5,600 SF of living space, plus a full walk-out basement.
Excellent long-term investment with strong rental demand and value-add opportunities.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$124,404
|
$22.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$124,404
|
$22.22
|
| Taxes |
$19,553
|
$3.49
|
| Operating Expenses |
$19,250
|
$3.44
|
| Total Expenses |
$38,803
|
$6.93
|
| Net Operating Income |
$85,601
|
$15.29
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $124,404 |
| Annual Per SF | $22.22 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $124,404 |
| Annual Per SF | $22.22 |
| Taxes | |
|---|---|
| Annual | $19,553 |
| Annual Per SF | $3.49 |
| Operating Expenses | |
|---|---|
| Annual | $19,250 |
| Annual Per SF | $3.44 |
| Total Expenses | |
|---|---|
| Annual | $38,803 |
| Annual Per SF | $6.93 |
| Net Operating Income | |
|---|---|
| Annual | $85,601 |
| Annual Per SF | $15.29 |
PROPERTY FACTS
| Price | $1,499,000 | Apartment Style | Low-Rise |
| Price Per Unit | $249,833 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 5.71% | Building Size | 5,600 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1930 |
| Zoning | R6B - Mixed use zoning | ||
| Price | $1,499,000 |
| Price Per Unit | $249,833 |
| Sale Type | Investment |
| Cap Rate | 5.71% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 5,600 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1930 |
| Zoning | R6B - Mixed use zoning |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Rider's Paradise (98)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 03471-0036 | Total Assessment | $157,192 |
| Land Assessment | $3,062 | Annual Taxes | $19,553 ($3.49/SF) |
| Improvements Assessment | $154,130 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
03471-0036
Land Assessment
$3,062
Improvements Assessment
$154,130
Total Assessment
$157,192
Annual Taxes
$19,553 ($3.49/SF)
Tax Year
2025
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Presented by
Billion Homes Realty Corp
Ridgewood Six | 1881 Putnam Ave
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