609 Seneca Avenue, Ridgewood, NY 11385 - Queens County

Calling All Investors, Developers, & End-Users!!! 6,500 Sqft. 6 Unit Apartment Building In Ridgewood For Sale!!! The Property Features Excellent Signage, Great Exposure, R6B/C1-4 Zoning, High Ceilings, 6 Parking Spaces, Separate Meters, Low Property Taxes, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Ridgewood In Between Fresh Pond Road, Myrtle Avenue & Metropolitan Avenue!!! The Property Is Situated Minutes From Queens Center & The Metro Mall!!! Neighbors Include Chase Bank, TD Bank, Northwell Health, Extra Space Storage, Stop & Shop, BJ’s, Key Food, Raymour & Flanigan, Pep Boys, Enterprise Rent-A-Car, Hertz, Blink Fitness, Tiger Schulmann’s Martial Arts, Wendy’s, Taco Bell, CVS, Qdoba, White Castle, KFC, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site / The Next Home For Your Business!!!

Income:

1R (2 Br. Duplex): $37,200 Ann.; M-M

1L (2 Br. Duplex).: $48,000 Ann.; M-M.

2R (2 Br. Apt.): $43,800 Ann.; Lease Exp.: 8/31/25.

2L (2 Br. Apt.): $40,800 Ann.; M-M.

3R (2 Br. Apt.): $42,000 Ann.; Lease Exp.: 4/30/26.

3L (2 Br. Apt.): $40,800 Ann.; Lease Exp.: 7/31/25.

Gross Income: $252,600 Ann.

Expenses:

Gas: $0 Ann.

Electric: $0 Ann.

Hot Water Heater: $3,000 Ann.

Maintenance & Repairs: $250 Ann.

Water & Sewer: $4,800 Ann

Insurance: $3,830 Ann.

Taxes: $15,096.40 Ann.

Total Expenses: $26,976.40 Ann.

Net Operating Income (NOI): $225,623.60 Ann. (6.45% Cap!!!)

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