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    1821 Grove St Flushing, NY 11385

    For Sale
    $4,150,000

    Newly built six-family property in Ridgewood with high rental income.

    Lot size:
    0.06 Acres

    Property Features for 1821 Grove St

    General Information

    Lot size
    0.06 Acres

    Building Details

    Year built
    2024

    Source: SunCity Prop Inc Agent Fay Huang

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Six-Family Investment Property

    This is a six-family property located in Ridgewood. The building is newly built and offers stable returns with all units rented at free market rates, generating an annual income of over $273,000. The property features a full finished basement with a laundry room and rentable storage spaces. Andersen windows and doors are installed throughout the building. The property offers Manhattan skyline views, a finished terrace, and balconies. Each unit includes hardwood floors, high-end appliances, LED energy-saving lighting, and luxury bath vanities. Tenants are responsible for all utilities.
    Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.909653
    Latitude
    40.704702

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    FAQs

    What type of property is this?
    Apartment building - Newly built six-family property in Ridgewood with high rental income.
    Where is this apartment building located?
    The property is located at 1821 Grove St Flushing, NY.
    What is the asking price?
    The asking price for this property is $4,150,000.
    What are key features of this property?
    This property features: - High-income producing six-family property with $273,000+ annual rent.; - Prime location in Ridgewood, walking distance to M and L trains.; - Newly built in 2024, ensuring modern construction and minimal maintenance.
    (347) 323-2443
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1821 Grove St Flushing, NY 11385
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