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5905 Catalpa Ave
Ridgewood, NY 11385
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Highly desirable Ridgewood neighborhood
- Steps to parks, schools, and community amenities
- Strong tenant demand and low vacancy rates
- Surrounded by cafés, dining, shopping, and daily conveniences
- Excellent transit access: M & L subway lines and multiple bus routes nearby
Executive Summary
This all-brick, six-family building in the highly sought-after Ridgewood neighborhood presents an exceptional investment opportunity. The property features six spacious two-bedroom apartments along with a full basement, offering additional storage and functionality. Measuring 25 x 75 feet on a 25 x 101-foot lot, the building provides a strong physical footprint and efficient layout. Recent capital improvements include a new roof (2017), a brand-new boiler, new water heaters, storage rooms in the basement, a large skylight in the hallway that brings in abundant natural light, high ceilings, and a beautifully maintained garden yard. These features enhance both tenant appeal and long-term
durability, making the property a low-maintenance, income- generating asset. Ridgewood charm is further highlighted by its vibrant neighborhood atmosphere. The property is surrounded by a diverse mix of cafés, restaurants, shopping centers, grocery stores, and entertainment venues. Excellent transportation access includes the M line located a short distance away at the Middle Village–Metropolitan Ave station and the M/L Myrtle– Wyckoff station also within a short distance, providing quick connections to Manhattan, Brooklyn, and Queens. Multiple bus routes, including the Q39, Q58, Q98, and B38 limited, also serve the area, further enhancing connectivity for tenants. Parks,
schools, and community amenities are nearby, contributing to Ridgewood’s strong residential demand.
durability, making the property a low-maintenance, income- generating asset. Ridgewood charm is further highlighted by its vibrant neighborhood atmosphere. The property is surrounded by a diverse mix of cafés, restaurants, shopping centers, grocery stores, and entertainment venues. Excellent transportation access includes the M line located a short distance away at the Middle Village–Metropolitan Ave station and the M/L Myrtle– Wyckoff station also within a short distance, providing quick connections to Manhattan, Brooklyn, and Queens. Multiple bus routes, including the Q39, Q58, Q98, and B38 limited, also serve the area, further enhancing connectivity for tenants. Parks,
schools, and community amenities are nearby, contributing to Ridgewood’s strong residential demand.
Property Facts
| Price Per Unit | $226,492 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.48% | Lot Size | 0.06 AC |
| No. Units | 6 | Building Size | 5,625 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1908 |
| Zoning | R5B - Medium density residential district | ||
| Price Per Unit | $226,492 CAD |
| Sale Type | Investment |
| Cap Rate | 4.48% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,625 SF |
| No. Stories | 3 |
| Year Built | 1908 |
| Zoning | R5B - Medium density residential district |
Amenities
Unit Amenities
- Storage Space
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Basement
Site Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
Property Taxes
| Parcel Number | 03505-0043 | Improvements Assessment | $221,102 CAD |
| Land Assessment | $3,680 CAD | Total Assessment | $224,782 CAD |
Property Taxes
Parcel Number
03505-0043
Land Assessment
$3,680 CAD
Improvements Assessment
$221,102 CAD
Total Assessment
$224,782 CAD
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