$3,128,000 - $3,822,000
●
Multifamily -
Off Market
297 Saint Nicholas Avenue
Ridgewood, NY 11385
Studio
10 Baths
About This Property
This mixed-use, corner building in Ridgewood contains two retail
units-a laundromat with 800 square feet and a vacant store with 150
square feet-and seven free-market three-bedroom residential units.
The laundromat's lease expires in 2027 and increases at a rate of
3% per year. The building has 7,260 total square feet, stands four
stories high, and sits on a 22' X 90.92' lot on a prime corner on
the Ridgewood/Bushwick border, only a block away from the L and M
trains at Myrtle-Wyckoff Avenues. The property currently boasts a
6.85% cap rate, bringing in $312,336 a year with the potential of a
$426,348 income stream (10.13% cap rate!) in the next five years.
This is an amazing opportunity to invest in a highly sought-after
neighborhood in New York City.
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
Multifamily
Property Taxes
-
HOA Dues
-
Year Built
1930
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Mar 31, 2024 | No longer available | - | |
No longer available | |||
Nov 3, 2023 | Price Decreased |
$3,475,000
↓ $25K
(0.7%)
|
|
Price Decreased | |||
Oct 27, 2023 | Price Decreased |
$3,500,000
↓ $100K
(2.8%)
|
|
Price Decreased | |||
Oct 3, 2023 | Price Increased |
$3,600,000
↑ $4M
(359,999,900%)
|
|
Price Increased | |||
Sep 28, 2023 | Listed | $1 | |
Listed |
Property Highlights
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Sold
Multifamily
20
Beds
14
Baths
-
$2,890,000
Jun 12, 2019
$2,890,000
Sep 4, 2019
$1,142/mo
Sold
Multifamily
12
Beds
11
Baths
-
$2,750,000
Dec 15, 2021
$2,750,000
Jul 22, 2022
$1,301/mo
Sold
Commercial
Loft
-
-
$2,835,000
Jan 10, 2020
$2,835,000
Nov 13, 2020
$1,224/mo
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
02/01/2023
|
|
Studio
|
9 Bath
|
7260 ft²
|
$3,900,000
Studio
9 Bath
7260 ft²
|
-
-
|
-
|
Emma Barattini
EVERGREEN REALTY & INVESTMENTS
|
Building Info
297 St Nicholas Avenue
297 St Nicholas Avenue, Ridgewood, NY 11385
- 8 Units
- 1 Unit for Sale