61-09 Catalpa Ave 6109 Catalpa Ave
9 Unit Apartment Building $2,150,000 ($238,889/Unit) 8.12% Cap Rate Ridgewood, NY 11385
INVESTMENT HIGHLIGHTS
- Located a few blocks to the Fresh Pond Rd. M train
- Located near shopping, entertainment, cafes, restaurants and much more
EXECUTIVE SUMMARY
Welcome to 61-09 Catalpa Ave. This 9-unit BRICK Rent Stabilized building, built in 1930, is a solid investment with a prime location. Just steps away from the Fresh Pond Rd. M train entrance. Located in vibrant Ridgewood and near shopping districts, cafes, restaurants and much more. This property is a dream come true for both investors and potential residents. Experience the perfect blend of comfort and potential with the unit composition of this property. Featuring 1-studio, 1-2 bedroom, & 7-3-bedroom apartments. Each unit has 1 full bathroom. There is oil heat and a full basement. Unlock the potential of 61-09 Catalpa Ave. and make your mark in one of NYC’s most sought-after neighborhoods. With its solid brick construction, spacious units spanning approximately 9240 s/f, this building presents an excellent opportunity for a substantial upside based on vacancies of units with higher legal rents. SEE SET UP FOR FLOOR PLANS, BUILDING INFO, & INCOME & EXPENSE INFO.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$81,732
|
$8.68
|
PROPERTY FACTS
| Price | $2,150,000 |
| Price Per Unit | $238,889 |
| Sale Type | Investment |
| Cap Rate | 8.12% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 9,420 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1930 |
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
1 of 1
Walk Score®
Walker's Paradise (94)
Transit Score®
Excellent Transit (88)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 03625-0002 | Improvements Assessment | $288,243 |
| Land Assessment | $9,651 | Total Assessment | $297,894 |
ZONING
| Zoning Code | R5B |
