1701 Gates Ave Ridgewood, NY 11385
Five-family building with storefront in prime Ridgewood location.
Property Features for 1701 Gates Ave
General Information
- Exterior features
- exterior_features, : ["Electricity Connected", "Natural Gas Connected", "Sewer Connected", "Water Connected"]
- Interior features
- Interior Feature 1, : "Wall/Window Unit(s)", "Interior Feature 2": "Natural Gas"
Building Details
- Year built
- 1930
Source: BLT Minimax Realty Inc
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Ridgewood Mixed-Use Investment Opportunity
Located in a desirable Ridgewood neighborhood, 17-01 Gates Avenue presents a mixed-use multifamily property featuring five residential units and a storefront. Built in 1930, this property offers a unique investment opportunity in a 'renters haven', conveniently located near the M/L subway line, multiple bus routes, eateries, and nightlife. The building is not rent controlled or rent stabilized, offering free market rental potential. The building size is approximately 25 feet by 78 feet, with about 1,950 square feet per floor. The property is zoned R6B, which allows the potential for adding one more floor. The first floor contains one 3-bedroom boxed unit with natural sunlight and one storefront. Floors two and three each contain two 3-bedroom boxed units with eat-in kitchens. The roof is a walk-out and is in excellent condition. The property includes a one-car garage. The lot size is 25 feet by 100 feet. The building is classified as a 5-6 family dwelling. The total projected annual gross rental income is $255,000 for residential units and $297,000 including the commercial space. The property's taxes are $26,712.16. The building's 15 bedrooms and 6 bathrooms offer ample living space. The property is located a short distance from Bushwick.
Insight Report
Location Intelligence
Current Use by Public Records
Storefront properties
Location Insight
- Map
- Local Demand
- City
- Ridgewood
- County
- Queens
- State
- New York
- Longitude
- -73.909678
- Latitude
- 40.702318
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Five-family building with storefront in prime Ridgewood location.
Where is this mixed-use property located?
The property is located at 1701 Gates Ave Ridgewood, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: - High Income Potential: Projected annual gross rental income of $255k (residential) or $297k (with commercial).; - Free Market Status: Offering greater flexibility in rental income management.; - Prime Location: Situated in a 'Renters Haven' near Gates Avenue, with a 5-minute walk to the M/L subway line.