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71-06 Fresh Pond Rd 3 Unit Apartment Building $1,775,000 ($591,667/Unit) Ridgewood, NY 11385
Investment Highlights
- 100% FREE MARKET
- Renovated & Occupied
- Long term Retail Tenant
- 1 block from the M train
Executive Summary
Bijou Equities is pleased to present the exclusive offering of 71-06 Fresh Pond Road — a fully renovated, 100%-occupied, 100% free-market mixed-use building in the heart of Ridgewood, Queens.
It delivers turnkey, in-place income with no deferred capital and no repositioning required.
The three-story, 3,300 SF building has 2 full-floor 4BR / 2BA apartments over a ground-floor retail store.
The apartments are gut-renovated with in-unit washer/dryers and exposed brick; the retail tenant is leased through for 10 years until March 2036 with 3% annual increases
Fully leased, the asset generates $156,000 of gross income and $117,161 of net operating income — a 6.60% cap rate at a basis of just $538 per square foot. It sits one block from the Fresh Pond Road M train and just off Myrtle Avenue — Ridgewood's premier retail corridor.
It delivers turnkey, in-place income with no deferred capital and no repositioning required.
The three-story, 3,300 SF building has 2 full-floor 4BR / 2BA apartments over a ground-floor retail store.
The apartments are gut-renovated with in-unit washer/dryers and exposed brick; the retail tenant is leased through for 10 years until March 2036 with 3% annual increases
Fully leased, the asset generates $156,000 of gross income and $117,161 of net operating income — a 6.60% cap rate at a basis of just $538 per square foot. It sits one block from the Fresh Pond Road M train and just off Myrtle Avenue — Ridgewood's premier retail corridor.
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 2 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03538-0023 | Improvements Assessment | $36,646 |
| Land Assessment | $10,839 | Total Assessment | $47,485 |
Property Taxes
Parcel Number
03538-0023
Land Assessment
$10,839
Improvements Assessment
$36,646
Total Assessment
$47,485
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71-06 Fresh Pond Rd