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297 St Nicholas Ave 7 Unit Apartment Building $4,200,000 ($600,000/Unit) 7.07% Cap Rate Ridgewood, NY 11385
Investment Highlights
- Prime Ridgewood Mixed-Use Asset in a High-Demand Location
- Projected Gross Income Exceeding $475,000 Annually
- Well maintained throughout
Executive Summary
Mixed-use building featuring 7 residential units and 2 retail spaces on a prime Ridgewood block.
Property Highlights:
• 7 residential units with strong rental upside
• 2 ground-floor retail spaces
• Approx. 7,260 SF building size
• Zoned C2-4
• Current gross income approximately $389,000 annually
• Projected future income potential exceeding $475,000 annually
• Built in 1930
• Conveniently located near transportation, shopping, and neighborhood amenities
• Meticulously maintained. Buy today and start collecting rent immediately.
An excellent opportunity for investors seeking stable cash flow with long-term value appreciation potential.
Property Highlights:
• 7 residential units with strong rental upside
• 2 ground-floor retail spaces
• Approx. 7,260 SF building size
• Zoned C2-4
• Current gross income approximately $389,000 annually
• Projected future income potential exceeding $475,000 annually
• Built in 1930
• Conveniently located near transportation, shopping, and neighborhood amenities
• Meticulously maintained. Buy today and start collecting rent immediately.
An excellent opportunity for investors seeking stable cash flow with long-term value appreciation potential.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$389,411
|
$53.64
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$389,411
|
$53.64
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$92,361
|
$12.72
|
| Net Operating Income |
$297,050
|
$40.92
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $389,411 |
| Annual Per SF | $53.64 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $389,411 |
| Annual Per SF | $53.64 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $92,361 |
| Annual Per SF | $12.72 |
| Net Operating Income | |
|---|---|
| Annual | $297,050 |
| Annual Per SF | $40.92 |
Property Facts
| Price | $4,200,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $600,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 7.07% | Building Size | 7,260 SF |
| No. Units | 7 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | ||
| Zoning | C2-4 / R6B - Medium Density Residential Multifamily & Commercial Opportunity | ||
| Price | $4,200,000 |
| Price Per Unit | $600,000 |
| Sale Type | Investment |
| Cap Rate | 7.07% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 7,260 SF |
| No. Stories | 4 |
| Year Built | 1930 |
| Zoning | C2-4 / R6B - Medium Density Residential Multifamily & Commercial Opportunity |
Amenities
Unit Amenities
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 7 | - | 900 - 1,000 |
1 1
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03447-0010 | Improvements Assessment | $237,771 (2026) |
| Land Assessment | $4,193 (2026) | Total Assessment | $241,964 (2026) |
Property Taxes
Parcel Number
03447-0010
Land Assessment
$4,193 (2026)
Improvements Assessment
$237,771 (2026)
Total Assessment
$241,964 (2026)
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297 St Nicholas Ave