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477 Fairview Avenue, Ridgewood, NY 11385

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For Sale

$2,150,000

11 beds • 5 baths • 4,200 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Single Family Attached
    Property type

  • $511.90
    Price per square foot

Explore this Property

Looking for a unicorn investment property? It is not often that you re able to find a massive legal five family building that is in excellent shape, can be delivered vacant at closing and is in a prime-time neighborhood. This building is 4,200 square feet, it is comprised of four two-bedroom railroad style apartments and one enormous true three bedroom, two bath apartment with access to the backyard. There is also a full basement, with multiple coin operated washing machines and updated mechanicals. This building is 25x56 and sits on a 25x95 lot and I zoned R6B. You are located in prime Ridgewood, just outside the landmarked district and with in blocks of the L and M train. Being this is such a great location; you should never have a vacancy. The expenses are currently just under $30,000 a year and potential rent roll is close to $190,000 a year. You should end up with a 7-7.5% cap rate on this building. This could also be a great condo conversion, whether it is now or if you hold it and do it in the future. This is a perfect 1031 situation.
MLS# 479977

Courtesy Of Revived Residential

(929) 379-3750

Property Features

  • Appliances
    Refrigerator, Washer
  • Architecture Style
    Other
  • Exterior Type
    Brick
  • Floor Covering
    Hardwood, Laminate, Tile
  • Heating Fuel
    Natural Gas
  • Heating System
    Radiator, Steam
  • Roof Type
    Unknown
  • Rooms
    Bedroom, Full Bath

Map and Directions

Directions to 477 Fairview Avenue, Ridgewood, NY 11385

Home seller CENTURY 21 Amiable Realty Group II

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Amiable Realty Group II

(718) 835-4700
Learn More About Us

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Monthly Payment Breakdown

  • Principle and Interest
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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