Two Story Four Unit Apartment Building For Sale
$1,600,000
10-62 Cypress Avenue, Ridgewood, NY 11385
6.5
Cap Rate
104,983.92
NOI
Details:
Description:
A 20’ wide vacant 4-unit two-story apartment building. The property has two duplex studio apartments on the first floor. The second floor is a three bedroom apartment. The third floor will be a one bedroom duplex apartments.
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.
Documents:
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Location
Gallery
