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6049 68th Ave 6 Unit Apartment Building $2,295,000 ($382,500/Unit) 4.49% Cap Rate Ridgewood, NY 11385
Investment Highlights
- Prime New York location
- Versatile retail space
- Proximity to major attractions
- High foot traffic area
- Great investment opportunity
- Strong rental potential
Executive Summary
Well-maintained historic brick mixed-use property featuring two 3-bedroom apartments, two commercial storefronts, and two income-producing garages. The property offers a strong value-add opportunity with below-market rents and residential units that can be renovated to increase future returns. Ideal for investors seeking diversified income and significant upside potential.
Property Facts
| Price | $2,295,000 | Apartment Style | Low-Rise |
| Price Per Unit | $382,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 4.49% | Building Size | 4,200 SF |
| Gross Rent Multiplier | 17.23 | No. Stories | 3 |
| No. Units | 6 | Year Built/Renovated | 1910/2020 |
| Property Type | Multifamily | Parking Ratio | 0.71/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R5B - R5 - Medium density district with a height limit of 40 feet | ||
| Price | $2,295,000 |
| Price Per Unit | $382,500 |
| Sale Type | Investment |
| Cap Rate | 4.49% |
| Gross Rent Multiplier | 17.23 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,200 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1910/2020 |
| Parking Ratio | 0.71/1,000 SF |
| Zoning | R5B - R5 - Medium density district with a height limit of 40 feet |
Amenities
Site Amenities
- Spa
- Gas Range
- On-Site Retail
- Vintage Building
- Public Transportation
- Awning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 700 |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03532-0052 | Improvements Assessment | $36,085 |
| Land Assessment | $9,534 | Total Assessment | $45,619 |
Property Taxes
Parcel Number
03532-0052
Land Assessment
$9,534
Improvements Assessment
$36,085
Total Assessment
$45,619
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