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1702 Palmetto Street Ridgewood, NY 11385
$2,350,000
  • Commercial
  • Year Built 1930
  • Multi Family
  • ML# 841957

Property Details

Overview

STRONG CASH FLOW & DIVERSE INCOME STREAM- This Brick Building Offers ONE COMMERCIAL Store Front & FIVE FREE MARKET RESIDENTIAL APARTMENTS. Ridgewood Is Recognized For It’s RAPID GROWTH And Various New Construction And Condo Conversions So Don’t Miss This Armchair Investment Opportunity In A Market Where MIXED- USE PROPERTIES Rarely Become Available. With All Rents Currently Below Market Value There Is Substantial Value-Add Opportunity & Significant Upside Potential For Future Appreciation. By Improving Leasing And Raising The Rents To Current Market Rate There Is A Chance For A Cap Rate Over 10%.

Key Facts

  • Lot Size: 0.0459
  • Lot Sq Ft: 2000
  • Taxes: $20,526
  • Sale or Rent: Sale
  • School District: Ps 239
  • Zoning: R6B

Additional Features

  • Construction Materials: Brick

Interior & Utilities

  • Heat: Natural Gas
  • A/C: Multi Units
  • Water: Public
  • Sewer: Public Sewer

Financial

  • Taxes: $20,526
Listing Information provided courtesy of Exit All Seasons Realty  718-345-4545
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