Brick Multifamily Property With
For Sale
$1,628,000
5805 69th Avenue, Ridgewood, NY 11385
Two connected brick buildings provide separate entrances, residential flexibility, and access to nearby rail service and neighborhood retail.
Property Size5,070 SF
Lot Size0.05 Acres
Price / SF$321.10
Days on Market33
Property Features for 5805 69th Avenue
General Information
Standard status
Active
Size
5,070 SF
Lot size
0.05 Acres
Property subtype
Residential Income
Zoning
R5B
Units
Multifamily Units
2
Office Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,700
Building Details
Building Size
5,070 SF
Year Built
1901
Buildings
2
Units
2
Construction
brick
Tenancy
Single
Listing Agency:
SunCity Prop Inc
(646) 891-6590
Listed By:
Wilson Cheng
(646) 891-6590
Source:
Cohenandcohenrealty
Added: Jul 15
Changed: Aug 14
Last Checked: Aug 15 at 12:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SunCity Prop Inc
Investment Insights
Based on property information with market context.
This Ridgewood multifamily property comprises a semi-detached brick main building and a separate backhouse, with each structure carrying its own address and entrance. The main building contains 8 bedrooms and 3 bathrooms across 2 apartments. A three-level backhouse adds living space and may function as a separate one-family residence or as an extension of the primary building. Both structures were built in 1901 and are described as being in good condition.
The property occupies a 22.25 x 100.25-foot lot and includes approximately 5,070 total square feet. The main building measures 20 x 55 feet, while the backhouse measures approximately 20 x 31 feet. R5B zoning applies. The property is near the Seneca, Fresh Pond M, Myrtle/Wyckoff, and Halsey L trains, with shops, restaurants, and stores located one block away on Myrtle Avenue.
The property occupies a 22.25 x 100.25-foot lot and includes approximately 5,070 total square feet. The main building measures 20 x 55 feet, while the backhouse measures approximately 20 x 31 feet. R5B zoning applies. The property is near the Seneca, Fresh Pond M, Myrtle/Wyckoff, and Halsey L trains, with shops, restaurants, and stores located one block away on Myrtle Avenue.
Key Highlights
- Semi‑detached brick multifamily property with a separate backhouse
- 8 bedrooms and 3 bathrooms in the main building
- Three‑level backhouse with separate address and entrance
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
$123,933
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
7.61%
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%
$2,478,660
$2.5M
Cap Rate 7%
$1,770,471
$1.8M
Cap Rate 9%
$1,377,033
$1.4M
Market Conditions
NOI Build-Up for 5,070 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
$234.2K $46.20/SF
− Vacancy
−$8.9K −$1.76/SF
EGI
$225.3K $44.44/SF
− OpEx
−$101.4K −$20.00/SF
NOI
$123.9K $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%
$2,478,660
Cap Rate 7%
$1,770,471
Cap Rate 9%
$1,377,033
Alternative Uses
Best Use
Office B
$2.38M
$2.09M – $2.78M
NOI $166,924 @ 7.0% cap · market cap 10.25%
Second Best
Apartment 5plus
$1.77M
$1.55M – $2.07M
NOI $123,933 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$3.74M
$3.27M – $4.36M
NOI $261,636 @ 7.0% cap · market cap 16.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
2
Residential units
Single-tenant
Tenancy
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two connected brick buildings provide separate entrances, residential flexibility, and access to nearby rail service and neighborhood retail.
Where is this multifamily property located?
The property is located at 5805 69th Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,628,000.
What are key features of this property?
This property features: Semi‑detached brick multifamily property with a separate backhouse; 8 bedrooms and 3 bathrooms in the main building; Three‑level backhouse with separate address and entrance
