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
6.4
Cap Rate
94,863
NOI
Details:
Cap Rate: 6.4%
NOI: $94,863
Building Size: 4,125 sqft
Units: 6
Price Per Sqft: $472
Zoning: R6B / C1-4
Highlights:
- 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
Documents:
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Offering Memorandum
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Location
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