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516 Onderdonk Ave - Hot Ridgewood Queens 6 Unit Apartment Building Offered at $2,900,000 at a 3.38% Cap Rate Ridgewood, NY 11385
Investment Highlights
- rents are below market upside projected yearly income $186,000.
- corner solid brick building New window and renvated apartments
Executive Summary
Prime Ridgewood Queens location with upside. 5-2-bedroom apartments, free market rent, renovated. With a store on the ground floor. Plus a 3-car garage.
Rents below market and no leases.
Rents below market and no leases.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$142,200
|
$30.10
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$142,200
|
$30.10
|
| Taxes |
$21,000
|
$4.44
|
| Operating Expenses |
$23,520
|
$4.98
|
| Total Expenses |
$44,520
|
$9.42
|
| Net Operating Income |
$97,680
|
$20.67
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $142,200 |
| Annual Per SF | $30.10 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $142,200 |
| Annual Per SF | $30.10 |
| Taxes | |
|---|---|
| Annual | $21,000 |
| Annual Per SF | $4.44 |
| Operating Expenses | |
|---|---|
| Annual | $23,520 |
| Annual Per SF | $4.98 |
| Total Expenses | |
|---|---|
| Annual | $44,520 |
| Annual Per SF | $9.42 |
| Net Operating Income | |
|---|---|
| Annual | $97,680 |
| Annual Per SF | $20.67 |
Property Facts
| Price | $2,900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $483,333 | Building Size | 4,725 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 3.38% | No. Stories | 3 |
| Sale Condition | 1031 Exchange | Year Built | 1930 |
| No. Units | 6 | Parking Ratio | 0.63/1,000 SF |
| Property Type | Multifamily | ||
| Zoning | R6B - 2 FAR | ||
| Price | $2,900,000 |
| Price Per Unit | $483,333 |
| Sale Type | Investment |
| Cap Rate | 3.38% |
| Sale Condition | 1031 Exchange |
| No. Units | 6 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Building Size | 4,725 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1930 |
| Parking Ratio | 0.63/1,000 SF |
| Zoning | R6B - 2 FAR |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 10+5 | 5 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03434-0040 | Total Assessment | $166,466 |
| Land Assessment | $2,007 | Annual Taxes | $21,000 ($4.44/SF) |
| Improvements Assessment | $164,459 | Tax Year | 2025 |
Property Taxes
Parcel Number
03434-0040
Land Assessment
$2,007
Improvements Assessment
$164,459
Total Assessment
$166,466
Annual Taxes
$21,000 ($4.44/SF)
Tax Year
2025
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516 Onderdonk Ave - Hot Ridgewood Queens
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