For More Information, Please Contact Exclusive Agent:
John GonsalvesDirector of SalesReal Estate [email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footagesand uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon theseestimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OFINCOME, AND ALL OTHER INFORMATION HEREIN.
Greiner Maltz Investment Properties24-09 38th Avenue
2nd FloorLong Island City, NY 11101
718.786.5050www.greinermaltz.com
PRIME MULTI-FAMILY BUILDING FOR SALE
IN RIDGEWOOD
Property Information:
Block/Lot: 3371/12
Lot Dimensions: 25’ x 95’
Lot SF: 2,379
Building Dimensions: 25’ x 60’
Stories: 2
Total Building SF: 3,000
Zoning: R6B
F.A.R: 1.26
Assessment (17/18): $336,000
R.E. Taxes (17/18): $6,783
DESCRIPTION
The subject property is a 2-story multi-familybuilding in Ridgewood, located on GrandviewAvenue between Bleeker Street and GreeneAvenue. The building is newly renovated andconsists of two three-bedroom apartments andtwo four-bedroom apartments. All units will bedelivered vacant. The property is convenientlylocated near the M subway line at the ForestAvenue station and is in close proximity tomultiple bus lines. This is a great opportunityfor an owner, user, or investor.
ASKING PRICE: $2,100,000
503 Grandview Avenue, Ridgewood, NY 11385
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildablefootages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependentupon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLYVERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
NEIGHBORHOOD INFORMATION
503 Grandview Ave. Ridgewood, NY 11385
Aerial View
TRANSIT MAP
FINANCIAL INFORMATION
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildablefootages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependentupon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLYVERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.
REVENUE:
Unit LXP Size Monthly Rent Annual Rent
1R Vacant 3 BR; 1 BA $3,500 $42,000
1L Vacant 4 BR; 1 BA $4,000 $48,000
2R Vacant 4 BR; 1 BA $4,000 $48,000
2L Vacant 3 BR; 1 BA $2,600 $31,200
$14,100 $169,200Totals:
ESTIMATED EXPENSES
Real Estate Taxes (17/18): $6,783
Insurance: $3,400
Electric (Common): $600
Repairs & Maintenance: $1,000
Gas: Paid by Tenant
Water/Sewer: $2,300
Total: $14,083
FINANCIAL SUMMARY
Gross Annual Income: $169,200
Less R.E. Taxes: $6,783
Less Operating Expenses: $7,300
Net Operating Income: $155,117
503 Grandview
Avenue
503 Grandview Ave. Ridgewood, NY 11385