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Joel Smith

Commercial-Residential REALTOR®

717-910-3769

Property Attributes

MLS#11737554
TypeSingle Family
Listing Status Active
CountyQUEENS
CityRidgewood
AreaQueens
NeighborhoodRidgewood
Zip11385
StyleFrench
Year Built1930
Taxes$ 27717
Price$ 2,158,000
Bedrooms30
Full Bathrooms8
Half Bathrooms0
Sqr Footage9200
Lot Size0.082645 Acres

Data Source:

My State MLS (MSMLS)

Property Description

Introducing a rare investment opportunity in the heart of Ridgewood, Queens. This well-maintained 8-family brick building offers 9,200 sq ft of living space on a 36x100 lot, zoned R6B. Built in 1930 and substantially renovated in 2020, approximately 90% of the building has been updated with modern finishes while retaining its pre-war charm. The property consists of 1 three-bedroom unit and 7 four-bedroom units, all rent-stabilized, providing steady and reliable cash flow. Tenants are responsible for their own electric and cooking gas, while the landlord covers heat, water, and insurance. Recent upgrades include a full finished basement, updated interiors, and ongoing maintenance that ensures minimal near-term capital expenses. Situated just two blocks from the M train, the property is within walking distance to shops, dining, and essential services, making it a desirable address for tenants. the property offers both stable income and upside potential through continued rent increases in one of NYC's most desirable rental submarkets. Investment Highlights 8 residential units - mix of 1 x 3BR and 7 x 4BR Rent-Stabilized with reliable long-term tenants Gross Income: $198,288 Net Income: $141,952 that at a 7% Cap, 90% Renovated (modernized interiors, new finishes) Low Maintenance: Professionally managed, clean, and well-kept Transit-Oriented Location: 2 blocks to M train; 30 minutes to Manhattan Upside: Strong demand in Ridgewood + potential package deal with 12 Family In Woodside with an NOI $161K inquire within for more details. Combine with both building will leave you with a total NOI $303K at $4,588,776 That will leave you at a 7% Cap Rate .

Price History
4/30/2026	Listed $2,168,000
6/17/2026	1$2,158,000

General Features

Living Area	9200
Sewer	Municipal
Zoning	600
Construction Materials	Masonry - Brick
Year Built	1930
Stories Count	4
Township	Queens
County	36081
Property Type	House (Attached)
Total Rooms	34
Full Baths	8
Status	Active
Buyer Financing	Other
Directions	google maps
City	Ridgewood
Lot Size Square Feet	3600
Tax Annual Amount	27717
Availability Date	2026-04-30T04:00:00Z