Six-Unit Mixed-Use Apartment
59-05 Catalpa Avenue, Ridgewood, NY 11385
For Sale
$900,000
Six two-bedroom apartments are arranged in an all-brick building with basement storage and a garden yard.
Property Size5,625 SF
Lot Size0.06 Acres
Price / SF$160
Days on Market425
Property Features for 59-05 Catalpa Avenue
General Information
Standard status
Size
Lot size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
basement
garden yard
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Tenancy
Listing Agency:
MYNY Residential
(718) 921-3100
Listed By:
Joseph C. Giordano · License NY #10491207694
(917) 650-2647
Source:
Jwsrealtygroup
Added: Sep 16, 2025
Changed: Nov 12
Last Checked: Nov 13 at 2:35PM
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 MYNY Residential
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Investment Insights
Based on property information with market context.
The all-brick property contains six two-bedroom apartments and a full basement with storage rooms. Building dimensions are 25 x 75 feet, on a 25 x 101-foot lot. Improvements include a 2017 roof, a new boiler, and new water heaters. High ceilings and a hallway skylight add interior features, while a garden yard provides outdoor space.
The property is in Ridgewood, with the M line at Middle Village–Metropolitan Ave and the M/L Myrtle-Wyckoff station nearby. Q39, Q58, Q98, and B38 Limited buses serve the area. Cafés, restaurants, grocery stores, shopping, entertainment, parks, schools, and community amenities are also nearby.
The property is in Ridgewood, with the M line at Middle Village–Metropolitan Ave and the M/L Myrtle-Wyckoff station nearby. Q39, Q58, Q98, and B38 Limited buses serve the area. Cafés, restaurants, grocery stores, shopping, entertainment, parks, schools, and community amenities are also nearby.
Key Highlights
- Six two‑bedroom apartments in an all‑brick building
- 25 x 75‑foot building on a 25 x 101‑foot lot
- Full basement includes storage rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,394
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,447,880
$1.4M
Cap Rate 7%
$1,034,200
$1.0M
Cap Rate 9%
$804,378
$804.4K
Market Conditions
NOI Build-Up for 5,625 SF
Gross rent
$135.0K $24.00/SF
− Vacancy
−$19.2K −$3.41/SF
EGI
$115.8K $20.59/SF
− OpEx
−$43.4K −$7.72/SF
NOI
$72.4K $12.87/SF
Area
Queens County, NY
Vacancy
14.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,447,880
Cap Rate 7%
$1,034,200
Cap Rate 9%
$804,378
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,500 @ 7.0% cap · market cap 15.28%
Second Best
Mixed Use
$1.03M
$904.9K – $1.21M
NOI $72,394 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,277 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,996
Businesses Nearby
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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
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Market
Properties on Market for Mixed-use properties in Ridgewood
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six two-bedroom apartments are arranged in an all-brick building with basement storage and a garden yard.
Where is this mixed-use property located?
The property is located at 59-05 Catalpa Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Six two‑bedroom apartments in an all‑brick building; 25 x 75‑foot building on a 25 x 101‑foot lot; Full basement includes storage rooms
