5-66 Onderdonk Ave Ridgewood, NY 11385

This corner mixed-use building is located in a strong residential and retail corridor. The fully gut-renovated building is an income-producing asset. It features four spacious two-bedroom apartments with hardwood floors and two established commercial spaces currently occupied by a daycare and a restaurant. The building also includes a fully finished basement with two offices and a private bathroom. The building has approximately 5,625 square feet. The first floor measures approximately 25 feet by 100 feet, while the second and third floors are approximately 25 feet by 64 feet. The property generates a strong in-place income of $255,954 annual gross with upside. The NOI is $202,597, representing a 6.59% cap rate at the asking price and a 7.06% potential cap rate. The property is well-maintained and professionally managed, with a stable tenant mix. Commercial tenants cover 40% of property taxes and 50% of DEP charges. The property is surrounded by established restaurants, cafés, and neighborhood businesses, and is located minutes from Bushwick and Williamsburg, and blocks from the L and M trains. It is an exceptional long-term investment opportunity in one of Queens’ most sought-after neighborhoods. All boilers have been replaced within the last 5 years. Plumbing and electrical systems were upgraded within approximately the last 20 years, and the exterior masonry was pointed within approximately the last 20 years. Major capital improvements have already been completed, and the property is mechanically modernized with a low deferred maintenance profile.