Historic Two-Family Duplex
For Sale
$1,500,000
6016 68th Road, Ridgewood, NY 11385
MULTI_FAMILY - Ridgewood, NY
Property Size3,300 SF
Lot Size0.06 Acres
Price / SF$454.55
Days on Market134
Property Features for 6016 68th Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 6, Bathroom 2
Subdivision
Flushing
Standard status
Active
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
9214
Amenities
original brick, stone, and iron detailing
private driveway
garage
backyard space
full basement
high ceilings
skylight
separate entrances
Building Details
Year built
1909
Floors in Building
2
Building materials
Brick
Listing Agency:
EVERGREEN REALTY & INVESTMENTS
(646) 838-1378
Listed By:
Emma Barattini
(646) 838-1378
Added: Apr 22
Changed: Aug 3
Last Checked: Sep 2 at 2:06AM
MLS# 11716630
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Landmarked two-family brick townhouse duplex in Ridgewood’s historic district, constructed circa 1909 with Renaissance Revival-style detailing. The building retains original brick, stone, and iron elements, along with high ceilings and skylight features. It includes a full basement with mechanicals and storage, and the property is delivered fully vacant.
The layout provides separate entrances for each unit. A private driveway with a curb cut leads to the rear of the property, where an accessory structure/garage offers additional storage, workspace, or studio potential. The lot is deep with backyard space and outdoor opportunity.
Zoned R5B (low-density residential). The opportunity may support a custom owner's duplex with an additional unit, with the building subject to NYC Landmarks Preservation Commission guidelines. Approximate measurements include about 3,300+ SF built on a ~2,400 SF lot, with a total lot size of 0.0558 acres.
The layout provides separate entrances for each unit. A private driveway with a curb cut leads to the rear of the property, where an accessory structure/garage offers additional storage, workspace, or studio potential. The lot is deep with backyard space and outdoor opportunity.
Zoned R5B (low-density residential). The opportunity may support a custom owner's duplex with an additional unit, with the building subject to NYC Landmarks Preservation Commission guidelines. Approximate measurements include about 3,300+ SF built on a ~2,400 SF lot, with a total lot size of 0.0558 acres.
Key Highlights
- Landmarked two‑family brick townhouse in Ridgewood historic district with Renaissance Revival‑style detailing
- Constructed circa 1909 with original brick, stone, and iron detailing
- Delivered fully vacant with separate entrances for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$80,667
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,613,340
$1.6M
Cap Rate 7%
$1,152,386
$1.2M
Cap Rate 9%
$896,300
$896.3K
Market Conditions
NOI Build-Up for 3,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$152.5K $46.20/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$146.7K $44.44/SF
− OpEx
−$66.0K −$20.00/SF
NOI
$80.7K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,613,340
Cap Rate 7%
$1,152,386
Cap Rate 9%
$896,300
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,667 @ 7.0% cap · market cap 5.38%
Second Best
Multifamily LT 5
$780.3K
$682.8K – $910.3K
NOI $54,620 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,162
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Brick, landmarked two-family duplex is fully vacant with separate entrances and private driveway access to the rear.
Where is this duplex located?
The property is located at 6016 68th Road Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Landmarked two‑family brick townhouse in Ridgewood historic district with Renaissance Revival‑style detailing; Constructed circa 1909 with original brick, stone, and iron detailing; Delivered fully vacant with separate entrances for each unit
