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566 Onderdonk Ave 4 Unit Apartment Building $3,075,000 ($768,750/Unit) Ridgewood, NY 11385
Investment Highlights
- DAYTIME FOOT TRAFFIC
- FREE MARKET
- MIXED-USE
- 2 RETAIL SPACES
- CORNER
- 4 TWO-BEDROOM APARTMENTS
Executive Summary
Corner mixed-use building in a strong residential and retail corridor
Free market, income-producing asset
Fully gut-renovated building
Four spacious two-bedroom apartments with hardwood floors
Two established commercial spaces (daycare and restaurant)
Fully finished basement featuring two offices and a private bathroom
5,625 SF building (approx)
First floor is ~25’x100’, second and third floor are 25’x64’
Strong in-place income: $255,954 annual gross with upside
NOI: $202,597.
6.59% cap rate at asking
7.06% potential cap rate
Well maintained and professionally managed
Stable tenant mix
Commercial tenants cover 40% of property taxes + 50% of DEP Charges
Surrounded by established restaurants, cafés, and neighborhood businesses
Minutes to Bushwick and Williamsburg, blocks from the L and M trains.
Exceptional long-term investment opportunity in one of Queens’ most sought-after neighborhoods
All boilers replaced within the last 5 years
Plumbing systems upgraded within approximately the last 20 years
Electrical systems upgraded within approximately the last 20 years
Exterior masonry pointed within approximately the last 20 years
Major capital improvements already completed
Mechanically modernized with low deferred maintenance profile
Free market, income-producing asset
Fully gut-renovated building
Four spacious two-bedroom apartments with hardwood floors
Two established commercial spaces (daycare and restaurant)
Fully finished basement featuring two offices and a private bathroom
5,625 SF building (approx)
First floor is ~25’x100’, second and third floor are 25’x64’
Strong in-place income: $255,954 annual gross with upside
NOI: $202,597.
6.59% cap rate at asking
7.06% potential cap rate
Well maintained and professionally managed
Stable tenant mix
Commercial tenants cover 40% of property taxes + 50% of DEP Charges
Surrounded by established restaurants, cafés, and neighborhood businesses
Minutes to Bushwick and Williamsburg, blocks from the L and M trains.
Exceptional long-term investment opportunity in one of Queens’ most sought-after neighborhoods
All boilers replaced within the last 5 years
Plumbing systems upgraded within approximately the last 20 years
Electrical systems upgraded within approximately the last 20 years
Exterior masonry pointed within approximately the last 20 years
Major capital improvements already completed
Mechanically modernized with low deferred maintenance profile
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,075,000 | Apartment Style | Low-Rise |
| Price Per Unit | $768,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| No. Units | 4 | Building Size | 5,625 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1931 |
| Zoning | R6, Queens - Medium density residential district | ||
| Price | $3,075,000 |
| Price Per Unit | $768,750 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,625 SF |
| No. Stories | 3 |
| Year Built | 1931 |
| Zoning | R6, Queens - Medium density residential district |
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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 | 03435-0039 | Total Assessment | $162,517 (2025) |
| Land Assessment | $37,798 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $124,719 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
03435-0039
Land Assessment
$37,798 (2025)
Improvements Assessment
$124,719 (2025)
Total Assessment
$162,517 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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566 Onderdonk Ave
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