855.375.4001
Listing Courtesy of: Sal Crifasi - Crifasi Realty Associates Inc 718-821-5999
$1,150,000 affordable loan icon Calculate Payment

1824 Cornelia St Ridgewood, NY 11385

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Mixed Use Residence
18 Beds
6 Baths
... Bed/Bath
Sq. Ft.

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Last updated on 7/25/2024 11:54 AM
Explore an enticing investment prospect in the vibrant and highly sought-after Ridgewood area with this strategically located building. Nestled in the heart of Ridgewood, just three blocks away from the M train, the property is surrounded by an array of amenities, including gift shops, bookstores, f...ine dining, bars, cafes, and bakeries. All units are presently occupied, underscoring the property's immediate revenue-generating potential. This real estate gem not only offers a prime location but also presents excellent prospects for growth. The recent surge in total annual income to an impressive $113,148, with expenses standing at $38,552, results in a substantial net income of $74,596. This robust financial profile positions the property as a compelling investment opportunity. Don't miss the chance to be part of the thriving Ridgewood community, recognized as the 4th coolest neighborhood in the World in 2022. The property is fully tenant-occupied and is being sold with tenants in place. Specific rental details include Apt 1L at $942/month, Apt 1R at $2,150/month, Apt 2L at $875/month, Apt 2R at $1,200/month, Apt 3L at $2,062/month, and Apt 3R at $2,200/month. Associated costs for the property include taxes at $15,692, extermination fees of $1,650, insurance costs totaling $4,400, water sewer expenses of $6,987, heating costs at $6,204, maintenance/repairs at $3,000, and electric costs of $619. The calculated cap rate based on the asking price is 6.34, showcasing a solid return on investment. The building encompasses 5,600 sqft, with an existing price per sqft of $210, making it a lucrative and well-positioned asset in the market. Continue reading
MLS#
RLMX-98727
Property Type
Mixed Use
Bedrooms
18
Bathrooms
6 Full
Year Built
1900

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Listing Courtesy of: Sal Crifasi - Crifasi Realty Associates Inc 718-821-5999
Andrea D. Conner, License 10311208085, Xome Inc., License 10991227159, [email protected], 844-400-XOME (9663), 750 Highway 121 Bypass, Suite 100, Lewisville, Texas 75067

IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Per New York legal requirement, click here for the Standard Operating Procedures. Copyright 2024 Real Estate Board of New York. All rights reserved.
This content last refreshed on 7/25/2024 11:54 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.
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