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Multifamily

1706 Himrod Street

1706 Himrod Street, Ridgewood, NY 11385

Listing Price: $1,550,000

Cap Rate
2.00%
Number of Units
6
Occupancy
33.0%
Price/Unit
$258,333
Price/Gross SF
$317.95
Gross SF
4,875

Investment Overview

Marcus and Millichap is pleased to offer for sale 1706 Himrod Street, Ridgewood , NY 11385. Zoned R6, (Block & Lot: 3432-4) , the subject brick property contains 6 large two bedroom apartments of which four will be delivered renovated and vacant. The lot dimensions and 25 ft. by 100 ft and the building dimensions are 25 ft. by 65 ft. This is an opportunity to stabilize this property at above 7 percent return.

Investment Highlights

  • Property will be delivered with four vacant and renovated units. The tax class 2A offers long term hedge against tax increases.
  • The DeKalb L subway station is two block from subject Property and 20 minutes to Manhattan
  • Submarket continues to be resilient during the Covid-19 Pandemic. Low vacancy rates and high apartment demand.
  • Legal rents for the vacant four units average $2650 per month.
  • Option to duplex or combine units to maximize return on investment.

Exclusively Listed By

Financing By

Listing Price: $1,550,000

Cap Rate
2.00%
Number of Units
6
Occupancy
33.0%
Price/Unit
$258,333
Price/Gross SF
$317.95
Gross SF
4,875

Investment Highlights

  • Property will be delivered with four vacant and renovated units. The tax class 2A offers long term hedge against tax increases.
  • The DeKalb L subway station is two block from subject Property and 20 minutes to Manhattan
  • Submarket continues to be resilient during the Covid-19 Pandemic. Low vacancy rates and high apartment demand.
  • Legal rents for the vacant four units average $2650 per month.
  • Option to duplex or combine units to maximize return on investment.

Investment Overview

Marcus and Millichap is pleased to offer for sale 1706 Himrod Street, Ridgewood , NY 11385. Zoned R6, (Block & Lot: 3432-4) , the subject brick property contains 6 large two bedroom apartments of which four will be delivered renovated and vacant. The lot dimensions and 25 ft. by 100 ft and the building dimensions are 25 ft. by 65 ft. This is an opportunity to stabilize this property at above 7 percent return.

Exclusively Listed By

Financing By

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