55-19 Metropolitan Ave 3 Unit Apartment Building $1,700,000 ($566,667/Unit) Ridgewood, NY 11385

For Sale | Mixed-Use Investment Opportunity
Reyes & Elsamad Real Estate Group is proud to present 55-19 Metropolitan Avenue, a well-positioned mixed-use asset located on the corner of 55th Street and Metropolitan Avenue in the heart of Maspeth, Queens — one of Western Queens’ steadily growing and supply-constrained submarkets. This property consists of three residential units and one commercial unit, plus two private garage spaces, offering a diversified income stream with strong upside potential.
The building features:
• One: 4-Bedroom / 1-Bath unit
• Two: 1-Bedroom / 1-Bath units
• One ground floor commercial unit (1,274 SF)
• Two private garages
• 25’ x 100’ lot
• R6B, C2-4 zoning overlay
The property generates approximately $142,956 in current gross income with a projected pro-forma of $155,400, supporting a 6.6% pro-forma cap rate at the $1,700,000 asking price. With approximately 1,075 SF of unused FAR and commercial frontage on Metropolitan Avenue, investors benefit from both stable in-place cash flow and long-term repositioning potential.
The Area
Maspeth continues to experience steady growth driven by its strategic location between Williamsburg, Ridgewood, and Long Island City. The neighborhood benefits from:
• Increasing residential demand from nearby Brooklyn submarkets
• Strong local retail corridors
• Proximity to major highways and public transportation
As surrounding neighborhoods push pricing higher, Maspeth remains a relative value play within Queens — making this an attractive opportunity for investors seeking yield today and appreciation tomorrow.
This is an ideal acquisition for:
• 1031 exchange buyers
• Mixed-use investors seeking stabilized income
• Owner-users looking to control their real estate
• Long-term holders focused on Western Queens growth
For additional financials or to schedule a private showing, contact Reyes & Elsamad Real Estate Group.