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1929 Putnam Ave 4 Unit Apartment Building $2,250,000 ($562,500/Unit) 6.88% Cap Rate Ridgewood, NY 11385
Investment Highlights
- New development 4 Duplex units and Beautiful Finishes
- 421A Tax Abatement
- Located near Myrtle Avenue, Bushwick, and Williamsburg hotspots.
- Easy access to the subway and very walkable
- Excellent transit access via M and L subway lines and major bus routes.
- Fully occupied with immediate cash flow and strong rent roll.
Executive Summary
Bridge Advisory Group has been exclusively retained to market the sale of 19-29 Putnam Avenue Ridgewood, NY 11385.
Newly built in 2018, this beautiful development was thoughtfully designed to maximize space. Built as 4 duplex units, with three floors above grade, tenants enjoy spacious layouts and outdoor space creating strong rental upside.
19-29 Putnam Avenue benefits from a 15-year 421A tax abatement, allowing for immediate cashflow upon acquisition & free market status upon expiration in 2033.
To view an Offering Memorandum, and for more information, please contact Matthew Dowling with Bridge Advisory Group.
Matt@bridgenyre.com
(516) 491-1492
Newly built in 2018, this beautiful development was thoughtfully designed to maximize space. Built as 4 duplex units, with three floors above grade, tenants enjoy spacious layouts and outdoor space creating strong rental upside.
19-29 Putnam Avenue benefits from a 15-year 421A tax abatement, allowing for immediate cashflow upon acquisition & free market status upon expiration in 2033.
To view an Offering Memorandum, and for more information, please contact Matthew Dowling with Bridge Advisory Group.
Matt@bridgenyre.com
(516) 491-1492
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,250,000 | Building Class | A |
| Price Per Unit | $562,500 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 5,358 SF |
| Cap Rate | 6.88% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2018 |
| Property Subtype | Apartment | Parking Ratio | 0.54/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R5B - Medium density district with a height limit of 40 feet | ||
| Price | $2,250,000 |
| Price Per Unit | $562,500 |
| Sale Type | Investment |
| Cap Rate | 6.88% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | A |
| Lot Size | 0.07 AC |
| Building Size | 5,358 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2018 |
| Parking Ratio | 0.54/1,000 SF |
| Zoning | R5B - Medium density district with a height limit of 40 feet |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Patio
Site Amenities
- Sundeck
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+2 | 1 | - | - |
| 2+2 | 1 | - | - |
| 5+2 | 1 | - | - |
| 6+2 | 1 | - | - |
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Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03481-0050 | Total Assessment | $394,650 (2026) |
| Land Assessment | $38,285 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $356,365 (2026) | Tax Year | 2024 |
Property Taxes
Parcel Number
03481-0050
Land Assessment
$38,285 (2026)
Improvements Assessment
$356,365 (2026)
Total Assessment
$394,650 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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