Ridgewood Three-Family Investment
7313 71st Street, Ridgewood, NY 11385
- Added:
- Jul 5, 2025
- Days on Market:
- 327
- Last Refresh:
- May 27 at 12:06 am
Property Features for 7313 71st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 11
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bedroom 6, Bedroom 5, Bedroom 11, Bathroom 2, Bedroom 3, Bedroom 2, Basement, Bedroom 4, Bedroom 1, Bedroom 7, Bedroom 9, Bathroom 1, Bedroom 10, Bedroom 8
- Parking features
- Off Street, Open, On Street
- Interior features
- Ceiling Fan(s), High Ceilings, Storage
- Basement
- Full, Storage Space
- Standard status
- Pending
- APN
- 03709-0020
- Size
- 3,360 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 7684
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Natural Gas
- Cooling system
- Wall/Window Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1915
- Number of units
- 3
- Flooring type
- Hardwood, Carpet
- Building materials
- Frame
- Additional Structures
- Storage
Listing agent Malgorzata A. Pieniadz CBR (347) 647-6397
Listing office Trademarko Realty Inc 6832 Forest Ave, Ridgewood, NY (718) 502-5141
Listing date Jul 5, 2025
MLS# 885446
Listing URL
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Delivered Vacant: Offers immediate rental income potential or personal use.
- Prime Location in Glendale, bordering Ridgewood, with easy access to transportation and neighborhood amenities.
- Three‑Family Home: Provides versatile living arrangements and income‑generating possibilities.
- Spacious Layout: Approximately 3,360 sq ft of living space with multiple bedrooms, full bathrooms, living rooms, dining rooms, and kitchens in each apartment.
- Full Basement with Backyard Access: Offers storage and potential for creating outdoor leisure or entertainment space.
- Investment Opportunity: Sold in as‑is condition, allowing for customization and value‑add improvements.
Overview
This three-story, three-family home is located in Glendale, bordering Ridgewood, NY. The building size is 20' x 56', offering approximately 3,360 sq ft of living space. The property will be delivered vacant at closing. The first floor features 3 bedrooms, while the second and third floors each have 4 bedrooms. Each apartment includes a full bathroom, living room, dining room, and kitchen. The full basement, currently used for storage, provides backyard access. Located just off Myrtle Avenue, the property offers access to public transportation, including the Q29, Q54, Q55, B13, express buses to Manhattan (QM24, QM25, QM34), and the L & M subway lines. Neighborhood amenities include Forest Park, Atlas Park, Trader Joe's, Home Depot, schools, shopping centers, restaurants, and gyms. The lot size is 0.0463 acres. This property is being sold in as-is condition.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$912.6K
NOI $82,133 @ 9.00% cap · cautious / downside scenario
Moderate
$1.17M
NOI $82,133 @ 7.00% cap · market / base-case scenario
Aggressive
$1.64M
NOI $82,133 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $155.2k | $46.20 |
| − Vacancy | −$5.9k | −$1.76 |
| EGI | $149.3k | $44.44 |
| − OpEx | −$67.2k | −$20.00 |
| NOI | $82.1k | $24.44 |
3,360 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,133 @ 7.0% cap · market cap 7.15%
Second Best
Multifamily LT 5
$794.5K
$695.2K – $926.9K
NOI $55,613 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,392 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Ridgewood
- County
- Queens
- State
- New York
- Longitude
- -73.879643
- Latitude
- 40.701617
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Spacious three-family home in Glendale, bordering Ridgewood, NY.
Where is this triplex located?
The property is located at 7313 71st Street Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,148,000.
What are key features of this property?
This property features: Delivered Vacant: Offers immediate rental income potential or personal use.; Prime Location in Glendale, bordering Ridgewood, with easy access to transportation and neighborhood amenities.; Three‑Family Home: Provides versatile living arrangements and income‑generating possibilities.
