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6147 Woodbine St 8 Unit Apartment Building $3,500,000 ($437,500/Unit) 8.29% Cap Rate Ridgewood, NY 11385
Investment Highlights
- Massive 36’ wide 8-family on beautiful residential block in Ridgewood, Queens
- Seven of eight units are renovated and free market
- Expect rents to grow into the mid $50s to $60 / SF over the next few years as Ridgewood continues to mature
- 9,200 SF with 4 and 5 bedroom layouts
- Pro forma rent roll over $375K/year, assuming conservative rental projections around $50/SF
- Asking price of $3.75M, translates to a 7.5-8% cap going in, with the expectation of achieving double-digit returns in the coming years.
Executive Summary
Broker of Record
Cory Rosenthal
License # 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Cory Rosenthal
License # 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
| Price | $3,500,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $437,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 8.29% | Building Size | 9,200 SF |
| No. Units | 8 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | ||
| Zoning | R6B - medium density residential | ||
| Price | $3,500,000 |
| Price Per Unit | $437,500 |
| Sale Type | Investment |
| Cap Rate | 8.29% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 9,200 SF |
| No. Stories | 4 |
| Year Built | 1930 |
| Zoning | R6B - medium density residential |
Amenities
Unit Amenities
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (85)
Property Taxes
| Parcel Number | 03613-0035 | Improvements Assessment | $232,359 |
| Land Assessment | $4,956 | Total Assessment | $237,315 |
Property Taxes
Parcel Number
03613-0035
Land Assessment
$4,956
Improvements Assessment
$232,359
Total Assessment
$237,315
Contacts
-
DJ Johnston -
Evan Kashanian -
David Caba -
Robert Moore -
Matthews Real Estate Investment Services
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6147 Woodbine St
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