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6147 Woodbine St
Ridgewood, NY 11385

$3,500,000 USD

Apartments For Sale  •  9,200 SF

Property Details

• Property Type Apartments
• Total Building Size 9,200 SF
• Lot Size 0.08 AC
• Building Class C
• Year Built 1930
• Cap Rate 8.29 %
• Zoning R6B

85 Transit Score

91 Walk Score

Highlights

Massive 36’ wide 8-family on beautiful residential block in Ridgewood, Queens

9,200 SF with 4 and 5 bedroom layouts

Seven of eight units are renovated and free market

Pro forma rent roll over $375K/year, assuming conservative rental projections around $50/SF

Expect rents to grow into the mid $50s to $60 / SF over the next few years as Ridgewood continues to mature

Asking price of $3.75M, translates to a 7.5-8% cap going in, with the expectation of achieving double-digit returns in the coming years.

Cap Rate:

8.29 %

Public Transportation

Commuter Rail	Drive	Walk	Distance
East New York Station (Far Rockaway Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road)	7 min	-	3.2 mi
Woodside Station (Babylon Branch - Long Island Rail Road, Far Rockaway Branch - Long Island Rail Road, Hempstead Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, Montauk Branch - Long Island Rail Road, Port Jefferson Branch - Long Island Rail Road, Port Washington Branch - Long Island Rail Road, Ronkonkoma Branch - Long Island Rail Road)	8 min	-	3.4 mi
Transit/Subway	Drive	Walk	Distance
Fresh Pond Road (M - New York MTA Subway (The Subway))	1 min	5 min	0.3 mi
Forest Avenue (M - New York MTA Subway (The Subway))	2 min	10 min	0.6 mi
Seneca Avenue (M - New York MTA Subway (The Subway))	3 min	15 min	0.8 mi
Middle Village-Metropolitan Avenue (M - New York MTA Subway (The Subway))	2 min	20 min	1.1 mi
Airport	Drive	Walk	Distance
LaGuardia	14 min	-	6.0 mi
John F Kennedy International	17 min	-	10.3 mi
Newark Liberty International	33 min	-	20.9 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Type:	Surface
Included in Rent:	Yes