62-08 68TH Avenue, New York City, NY 11385 (MLS # RPLU-33422932560)
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Rare Ridgewood Offering for the Savvy Investor and/or End User
Lovingly maintained, and held by the same family for over 40 years, 62-08 68th Ave is ready for its legacy to be passed on. The classic ultra-wide and deep homes that line 68th avenue were built to endure through the centuries. Sitting on 25 X 100-foot lots, they comfortably accommodate the 4 units that most of these buildings house, but would make a luxurious and commodious single, or two-family townhouse as well. At nearly 3000 square feet interior and currently configured with two floor-through units per floor (4 free market apartments), plus a full 1400 sq. ft. basement with over 7' ceilings, and over 1000 sq. ft. of outdoor space, 62-08 offers a myriad of possibilities for the investor or end user. Maintain as is and collect handsome rents, update and renovate for incredibly high market rents, create an owner's duplex with a beautiful garden oasis and collect one, 2-, or 3-units worth of rental income, Or, build your single-family dream home. Additional FAR is available if expansion is desired. Special features include, 9 ft. ceilings, a large open backyard, and many original details including beautiful crown moldings, the original grand staircase and banister, and a stunning and ornate fireplace surround. This lovely home is flooded with light through 20 windows and an enormous skylight as well. The building shares a single boiler for efficient steam heating throughout, and 5 separate electric meters. All units are free market. Situated on a beautiful tree-lined, residential block in bustling Ridgewood, where trendy restaurants, breweries, coffee shops, bars, specialty shops, and boutiques abound. The Fresh Pond M train is less than 2 blocks away, Mafera Park just a few blocks down the street, and Forest Park just a little further offering multiple hiking trails and a wealth of opportunities for the outdoor enthusiast.
Investors: Cap rate with market rents is approximately 6% with tremendous upside available. With updating, projected cap rate is 8%.
First Open House Sunday May 12th by appointment. Please call or e-mail with any questions or to schedule a tour.
DAYS ON MARKET | 13 | LAST UPDATED | 5/8/2024 |
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TRACT | Glendale | YEAR BUILT | 1930 |
COUNTY | Queens | STATUS | Active |
PROPERTY TYPE(S) | Condo/Townhouse/Co-Op |
ADDITIONAL DETAILS | |
AIR | None |
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BASEMENT | Other |
LOT | 2483 sq ft |
LOT DIMENSIONS | 100.00x25.00 |
STORIES | 2 |
SUBDIVISION | Glendale |
TAXES | 9156 |
VIEW | Yes |
VIEW DESCRIPTION | Other |
TOTAL MONTHLY PAYMENT
SATELLITE VIEW |
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