Well Located and Value-Add Potential For Sale

$1,950,000

580 Seneca Avenue, Queens, NY 11385

For Sale

Mixed Use

Active

Last Updated: 09/16/2024

Cap Rate: 6.4%

NOI: $94,863

Building Size: 4,125 sqft

Units: 6

Price Per Sqft: $472

Zoning: R6B / C1-4

Well located: Seneca Avenue between Grove & Menahan Streets in Ridgewood, Queens, on the border of Bushwick, Brooklyn
Value-add potential: Though the units are well cared for and in leasable condition, there is definite upside potential with renovations
Rent roll upside: Market rents are 20-25% higher than the current rent roll
Neighborhood upside: Ridgewood, Queens is one of the best-positioned neighborhoods in NYC, with significant spillover from Bushwick & Williamsburg
Proximity to transportation: The Seneca Avenue M-train is three blocks over, while the Dekalb Ave L-train is a 10-minute walk away Protected tax class: The pr

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	Offering Memorandum

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