OPEN HOUSE BY APPOINTMENT ONLY -- Please call, text or email so we can add your name(s) to the guest list and to arrange a private showing of this property. For your safety as well as ours we are requiring all visitors to wear a mask during indoor showings.
New to the market is this amazing investment opportunity 2 units with large storefront in a very busy area with plenty of vehicle and foot traffic bordering Ridgewood and Glendale. The building is a solid brick house with new windows, new roof, new boiler/heating tank, and freshly painting common space ( hallways)The third floor features high ceilings, three box bedrooms with separate entrances to the hall , living room, dining area, 1 full bathroom with a soak tub, kitchen and bathroom. This unit has been completely renovated with new windows, hardwood floors, new bathroom ( tastefully designed and modernized with wall to wall tiles), glass shower doors, new modern kitchen with granite countertops, white brick backspace tiles, high end stainless steel appliances, including a French double door stainless steel refrigerator, new gas line upgrade, electric line upgrades, and light fixtures.
The second floor unit features high ceilings, two box bedrooms, living room, dining room, one full bathroom and kitchen. Hardwood floors throughout - needs some improvement, but mostly cosmetic.
The store front is very large over 1500 sq. ft. of usable space currently a beauty and nail salon with open space, high ceilings, two rooms in the back, closets, utility room and access to the back yard. Basement is not finished and has a water tank, utilities section and boiler. Speak to listing broker for building set-up. This house is well maintained by the owners who are meticulously about maintaining this building meaning they have professional service contractors come in periodically to maintain the boiler, water tank, electric circuit breakers, gas lines, roof, foundation. Please call, text or email to arrange a private walk through of this amazing investment opportunity.
Annual rental income:$83,040.00
Monthly rent-roll: $6,920.00
1st floor $2920.00
2nd Floor $1500.00 (No Lease)
3rd Floor $2500.00 (Vacant on delivery) potential rental
Building heating on one thermostat - owner controls and pays, Each unit pays their own electric and gas.
Con Ed Approx.- $200 - $300 annually
Nat Grid Approx. $300 to $400 annually
Water Approx.- $1474.70. to $1600.00 annually
Property taxes $630. per month - $7560. annually
Insurance Approx. $1800. annually
Water/Sewer Expense (Annual) $1,475
Heat (Annual) $1,400
Electric (Annual) $1,200
Insurance Expense (Annual) $1,800
RE Tax $630
Other (Annual) $1,800 (estimated annual maintenance)
Total Expenses (Annual) $15,235
Gross Income (Annual) $83,040
Net Income (Annual) $67,805
Unit # Rooms Baths Lease Type Lease Expiration Rent
1 SF 4 .5 5+5 (3%+) 9/30/2025 $2700. + 220 for water $2920 + 3% increase every year
2 5 1 Residential No Lease $1500
3 5 1 Residential No Lease $2500 (potential rent market rate) - currently vacant