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Ridgewood 3-Family Collection 1 Multifamily Properties Offered at $5,000,000 in Ridgewood, NY
Investment Highlights
- 9 Multifamily Units in Prime Ridgewood | Brick 3-Family Portfolio Spanning 10,460 SF Above Grade
- Highly sought-after location with strong day-one yield and tremendous upside | Whole Foods coming soon to Myrtle Avenue
- Tax Class 1 | Previously owner-occupied and well-maintained by a general contractor
- 100% Free-Market | Strong floorplates offering 986+ SF apartments | 2-Bedroom layouts convertible to 3-Bedrooms
- Supply-Constrained and Low-Density Market | Limited new development and long-term rent growth
- Proximity to M & L subway lines providing connectivity to Manhattan & Brooklyn
Executive Summary
Ridgewood has rapidly emerged as one of New York City’s most sought after high-growth rental and investment markets, driven by accelerating rent growth, an influx of institutional capital, and continued spillover demand from neighboring Bushwick and Williamsburg. The neighborhood has recently been ranked among the most in-demand areas in NYC, with rents rising dramatically in recent years and tenant demand continuing to flourish.
The retail landscape is undergoing a significant transformation, highlighted by Whole Foods signing a long-term lease at 55-60 Myrtle Avenue, marking its first location in Queens and a major inflection point for the neighborhood’s evolution. Alongside Whole Foods, Ridgewood has seen a growing presence of national retailers and destination dining concepts, signaling institutional validation and long-term capital commitment to the submarket.
Strong demographic trends continue to push Ridgewood further into the mainstream, while still offering investors an attractive basis and upside compared to adjacent Brooklyn neighborhoods. The achievable renovated condo sellout is in the ballpark of $1,100+ per square foot, providing a clear path for conversion or exit through unit sell-off.
With limited new supply due to low-density zoning, a growing institutional footprint, and continued tenant migration from higher-cost submarkets, Ridgewood presents investors with a rare opportunity to capture both current yield and long-term appreciation in one of Queens’ fastest-evolving neighborhoods.
The retail landscape is undergoing a significant transformation, highlighted by Whole Foods signing a long-term lease at 55-60 Myrtle Avenue, marking its first location in Queens and a major inflection point for the neighborhood’s evolution. Alongside Whole Foods, Ridgewood has seen a growing presence of national retailers and destination dining concepts, signaling institutional validation and long-term capital commitment to the submarket.
Strong demographic trends continue to push Ridgewood further into the mainstream, while still offering investors an attractive basis and upside compared to adjacent Brooklyn neighborhoods. The achievable renovated condo sellout is in the ballpark of $1,100+ per square foot, providing a clear path for conversion or exit through unit sell-off.
With limited new supply due to low-density zoning, a growing institutional footprint, and continued tenant migration from higher-cost submarkets, Ridgewood presents investors with a rare opportunity to capture both current yield and long-term appreciation in one of Queens’ fastest-evolving neighborhoods.
Property Facts
| Price | $5,000,000 | Number of Properties | 3 |
| Price / SF | $1,432 / SF | Individually For Sale | 0 |
| Cap Rate | 4.40% | Total Building Size | 3,492 SF |
| Sale Type | Investment | Total Land Area | 0.05 AC |
| Status | Active |
| Price | $5,000,000 |
| Price / SF | $1,432 / SF |
| Cap Rate | 4.40% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 3,492 SF |
| Total Land Area | 0.05 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 6151 Gates Ave, Ridgewood, NY 11385 | Multifamily | 3,492 SF | 1901 | - |
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Ridgewood 3-Family Collection
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