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1062 Cypress Ave
Ridgewood, NY 11385
Multifamily Property For Sale
·
4 Units
INVESTMENT HIGHLIGHTS
- Short distance to public transportation
- Located near multiple parks, schools, and small businesses
EXECUTIVE SUMMARY
A 20’ wide vacant 4-unit two-story apartment building. The property as two units per floor. They are all two-bedroom apartments they are located to the front and back of the building. All the units have full kitchen & full bathroom, nice wood floors. They get great sunlight, the ceilings are ten feet, and the units are individually metered for cooking gas and electric. All the meters are in the basement. The property is a prime investment opportunity because all the units are free market and not subject to any rent regulations. An investor can renovate them and increase the rents. They can also give each tenant their own boiler and water heater. The property also makes a great user opportunity; a user can occupy the ground floor and convert it into a three-bedroom floor-through apartment. They rent out the second floor for income. They can also duplex the ground floor with the basement to create a duplex garden apartment.
PROPERTY FACTS
| Price Per Unit | $551,120 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.63% | Lot Size | 0.04 AC |
| No. Units | 4 | Building Size | 3,060 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1930/2023 |
| Zoning | R6B - Medium Density Apartment House District | ||
| Price Per Unit | $551,120 CAD |
| Sale Type | Investment |
| Cap Rate | 5.63% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 3,060 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1930/2023 |
| Zoning | R6B - Medium Density Apartment House District |
AMENITIES
UNIT AMENITIES
- Heating
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 3+1 | 1 | - | - |
PROPERTY TAXES
| Parcel Number | 03554-0055 | Improvements Assessment | $82,823 CAD |
| Land Assessment | $7,864 CAD | Total Assessment | $90,686 CAD |
PROPERTY TAXES
Parcel Number
03554-0055
Land Assessment
$7,864 CAD
Improvements Assessment
$82,823 CAD
Total Assessment
$90,686 CAD
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