Brick Duplex with
59-17 70th Ave, Ridgewood, NY 11385
For Sale
$1,369,000
Two residences offer three bedrooms apiece, with a separate unfinished basement and updated heating equipment.
Property Size3,420 SF
Price / SF$400.29
Days on Market15
Property Features for 59-17 70th Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Amenities
private backyard
Building Details
Year Built
Buildings
Construction
Listing Agency:
Exit All Seasons Realty
Listed By:
Jaroslaw Kaszuba
(718) 345-4545
Source:
Searchhomesinlongisland
Added: Oct 25
Changed: Nov 7
Last Checked: Nov 7 at 7:11PM
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 Exit All Seasons Realty
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Investment Insights
Based on property information with market context.
This 1911 brick duplex contains two three-bedroom apartments. The second-floor residence has a living room, dining room, kitchen, full bathroom, and an additional room suitable for office use. An unfinished basement provides extra space, and the property also includes a backyard. A new boiler and two new hot water heaters serve the building. The property measures 3,420 square feet.
Public transportation, neighborhood shops, and restaurants are nearby. The building is located in Ridgewood, Queens.
Public transportation, neighborhood shops, and restaurants are nearby. The building is located in Ridgewood, Queens.
Key Highlights
- Two apartments, each with three bedrooms
- 3,420‑square‑foot brick building constructed in 1911
- Second‑floor apartment includes living and dining rooms, kitchen, full bath, and an extra room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,600
Cap Rate
6.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,672,000
$1.7M
Cap Rate 7%
$1,194,286
$1.2M
Cap Rate 9%
$928,889
$928.9K
Market Conditions
NOI Build-Up for 3,420 SF
Gross rent
$158.0K $46.20/SF
− Vacancy
−$6.0K −$1.76/SF
EGI
$152.0K $44.44/SF
− OpEx
−$68.4K −$20.00/SF
NOI
$83.6K $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 Rate 5%
$1,672,000
Cap Rate 7%
$1,194,286
Cap Rate 9%
$928,889
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.05M – $1.39M
NOI $83,600 @ 7.0% cap · market cap 6.11%
Second Best
Multifamily LT 5
$808.7K
$707.6K – $943.5K
NOI $56,607 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,488 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,580
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
$842,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Ridgewood, NY
Properties on Market for Duplexes in Ridgewood
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer three bedrooms apiece, with a separate unfinished basement and updated heating equipment.
Where is this duplex located?
The property is located at 59-17 70th Ave Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,369,000.
What are key features of this property?
This property features: Two apartments, each with three bedrooms; 3,420‑square‑foot brick building constructed in 1911; Second‑floor apartment includes living and dining rooms, kitchen, full bath, and an extra room
