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The Palmetto St Multifamily Portfolio 1 Multifamily Properties Offered at $5,000,000 in Ridgewood, NY
Investment Highlights
- Separately Metered Units - All residential units across the three buildings are separately metered for gas and electricity.
- Proximity to Multiple Public Transit Lines - Within walking distance to the M train and L train, plus several bus lines.
Executive Summary
The Palmetto Street Multifamily Portfolio is a package of three multifamily buildings located in the heart of Ridgewood, one of Queens’ most desirable and rapidly evolving neighborhoods. The property benefits from strong residential demand and short walking distance to a vibrant mix of local and national retailers.
The buildings are located at 59-41 Palmetto Street, 59-39 Palmetto Street, and 60-15 Palmetto Street. All three buildings are fully free-market assets with no rent stabilization component.
The portfolio offers a value-add opportunity through vacancy and renovation potential, with immediate upside from two vacant units and a month-to-month tenancy. This provides a new owner the ability to renovate interiors, allowing investors to increase rental income and modernize the assets.
For additional information or to arrange for property inspection, inquire with exclusive brokers.
The buildings are located at 59-41 Palmetto Street, 59-39 Palmetto Street, and 60-15 Palmetto Street. All three buildings are fully free-market assets with no rent stabilization component.
The portfolio offers a value-add opportunity through vacancy and renovation potential, with immediate upside from two vacant units and a month-to-month tenancy. This provides a new owner the ability to renovate interiors, allowing investors to increase rental income and modernize the assets.
For additional information or to arrange for property inspection, inquire with exclusive brokers.
Property Facts
| Price | $5,000,000 | Number of Properties | 3 |
| Price / SF | $1,333 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 3,750 SF |
| Status | Active | Total Land Area | 0.06 AC |
| Price | $5,000,000 |
| Price / SF | $1,333 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 3,750 SF |
| Total Land Area | 0.06 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 60-15 Palmetto St, Ridgewood, NY 11385 | Multifamily | 3,750 SF | 1920 | - |
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The Palmetto St Multifamily Portfolio
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