63-40 Fresh Pond Road Ridgewood, NY 11385
Single Family Attached
MLS #: 891975
Courtesy Of Keystone Realty USA
Property InformationDescription
Looking for a dependable investment in a fast-growing Queens neighborhood? This well-maintained three-story multi-family with basement sits in a high-demand area of Ridgewood, offering six residential railroad-style units and consistent rental income with significant upside potential.
With 5 of 6 units occupied and one vacant, this property gives buyers the immediate opportunity to increase cash flow by leasing the vacant unit at market rent or upgrading interiors over time to boost value.
Key Highlights:
1. Six Residential Units (Rent-Stabilized)
2. Gross Annual Rent: $120,775
3. One 3BR Unit Vacant Projected $44,000/year
4. Low Annual Operating Expenses: $73,781
5. Attractive Brick Exterior & Low Maintenance Costs
6. Same Ownership for Over 40 Years Pride of Ownership
7. Zoning: R6B / C1-4 Potential for Future Redevelopment
8. Lot Size: 2,844 SF | Building Area: 5,833 SF
With 5 of 6 units occupied and one vacant, this property gives buyers the immediate opportunity to increase cash flow by leasing the vacant unit at market rent or upgrading interiors over time to boost value.
Key Highlights:
1. Six Residential Units (Rent-Stabilized)
2. Gross Annual Rent: $120,775
3. One 3BR Unit Vacant Projected $44,000/year
4. Low Annual Operating Expenses: $73,781
5. Attractive Brick Exterior & Low Maintenance Costs
6. Same Ownership for Over 40 Years Pride of Ownership
7. Zoning: R6B / C1-4 Potential for Future Redevelopment
8. Lot Size: 2,844 SF | Building Area: 5,833 SF
Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 6
- Cooling System: Window Unit(s)
- Cooling System: Multi Units
- Cooling System: Wall/Window Unit(s)
- Exterior Type: Brick
- Heating System: Natural Gas
- MLSID: 891975
- Rooms: Basement
MAP & DIRECTIONS
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