Quadplex with Three-Car
For Sale
$1,975,000
6046 Putnam Avenue, Ridgewood, NY 11385
MULTI_FAMILY - Ridgewood, NY
Property Size4,000 SF
Lot Size0.05 Acres
Price / SF$493.75
Days on Market384
Property Features for 6046 Putnam Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
7
Rooms
Bedroom 1, Bedroom 7, Bedroom 2, Bedroom 5, Bedroom 4, Basement, Bedroom 6, Bedroom 3
Interior features
First Floor Bedroom
Basement
Full
Elementary school
Ps 88 Seneca
Middle school
Is 93 Ridgewood
High school
Grover Cleveland High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Standard status
Active
APN
03511-0047
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
21834
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1930
Number of units
4
Building materials
Stone
Listing Agency:
Crifasi Real Estate Inc
(718) 782-4411
Listed By:
Sal J. Crifasi · License #1027429
(718) 782-4411
Added: Jul 23, 2025
Changed: Aug 4
Last Checked: Aug 10 at 12:06PM
MLS# 888227
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Situated at 6046 Putnam Avenue in Ridgewood, this well-maintained quadplex is a stone-built corner property constructed in 1930. The building provides nearly 4,000 square feet of interior space across three stories plus a full basement. The unit mix totals four apartments, including a ground-floor studio and 1BR, along with two 3-bedroom apartments on the upper floors.
A full-height unfinished basement offers additional flexibility for storage or future possibilities. Heating is natural gas, and cooling is provided via wall/window unit(s) and window unit(s). Public water and public sewer services are available, supporting straightforward day-to-day operations.
For transit access, the property is just off Fresh Pond Road and is moments from the Fresh Pond M train, which can support strong renter demand. The building also includes a rare three-car garage as an on-site amenity.
A full-height unfinished basement offers additional flexibility for storage or future possibilities. Heating is natural gas, and cooling is provided via wall/window unit(s) and window unit(s). Public water and public sewer services are available, supporting straightforward day-to-day operations.
For transit access, the property is just off Fresh Pond Road and is moments from the Fresh Pond M train, which can support strong renter demand. The building also includes a rare three-car garage as an on-site amenity.
Key Highlights
- Nearly 4,000 SF interior space across three stories plus a full basement
- Four‑unit quadplex: ground‑floor studio, 1BR, and two 3‑bedroom apartments
- Corner building with a rare three‑car garage
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
$97,778
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
4.95%
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%
$1,955,560
$2.0M
Cap Rate 7%
$1,396,829
$1.4M
Cap Rate 9%
$1,086,422
$1.1M
Market Conditions
NOI Build-Up for 4,000 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
$184.8K $46.20/SF
− Vacancy
−$7.0K −$1.76/SF
EGI
$177.8K $44.44/SF
− OpEx
−$80.0K −$20.00/SF
NOI
$97.8K $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%
$1,955,560
Cap Rate 7%
$1,396,829
Cap Rate 9%
$1,086,422
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,778 @ 7.0% cap · market cap 4.95%
Second Best
Multifamily LT 5
$945.8K
$827.6K – $1.10M
NOI $66,206 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,419 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,524
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex with a three-car garage, gas heat, and public utilities in a corner setting near Fresh Pond M.
Where is this quadplex located?
The property is located at 6046 Putnam Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,975,000.
What are key features of this property?
This property features: Nearly 4,000 SF interior space across three stories plus a full basement; Four‑unit quadplex: ground‑floor studio, 1BR, and two 3‑bedroom apartments; Corner building with a rare three‑car garage
