Listed by Evergreen Realty and Investments
$999,000
959 Seneca Avenue
Details
APN 03573-0008
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,850
Units 6
NOI $70,062
Occupancy 100%
Tenancy Multi
Year Built 1931
Buildings 1
Stories 3
Lot Size (SqFt) 2,791
Zoning C4-3A
Investment Type Stabilized
CLEAN FULLY LEASED SIX-UNIT RENT-STABILIZED BUILDING IN PRIME RIDGEWOOD
Marketing description
Six-unit residential building located in prime Ridgewood. Total building size: 5,850 sq ft. Lot dimensions: 26 x 107.33 (2,791 sq ft). Fully leased with strong in-place income. Based on the upcoming renewals of units 1R, 1L, 2L, 3R. Six residential units (all occupied). All units rent-stabilized. Building features brand new appliances, remodeled kitchens & bathrooms, and digital doorman system. Average unit size: ~975 sq ft, with three-bedroom and two-bedroom layouts. Built in 1931. 2A Tax Class: capped annual tax increases. Low annual property taxes: ~$17,070. Additional buildable area: ~2,500+ sq ft (FAR 3). 5-minute walk to Myrtle–Wyckoff L & M trains. 7.01% Actual Cap Rate.
Investment highlights
- Six-unit residential building
- Located in prime Ridgewood
- Total building size: 5,850 sq ft
- Lot dimensions: 26 x 107.33 (2,791 sq ft)
- Fully leased with strong in-place income. Based on the upcoming renewals of units 1R, 1L, 2L, 3R
- Six residential units (all occupied)
- All units rent-stabilized
- Brand new appliances
- Remodeled kitchens & bathrooms
- Digital doorman system
- Average unit size: ~975 sq ft, with three-bedroom and two-bedroom layouts
- Built in 1931
- 2A Tax Class: capped annual tax increases
- Low annual property taxes: ~$17,070
- Additional buildable area: ~2,500+ sq ft (FAR 3)
- 5-minute walk to Myrtle–Wyckoff L & M trains
- 7.01% Actual Cap Rate
Listing Contacts
Listed by Evergreen Realty and Investments
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$70,061.76
$5,838.48/mo
Valuation Metrics
0
DSCR
7.01%
Cap Rate
7.01%
ROI
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Tax History
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