Renovated Four-Unit Apartment
For Sale
Contact for pricing
62-10 68th Avenue, Ridgewood, NY 11385
Renovated apartments, a sheet-rocked basement, and vacant delivery provide a flexible multifamily configuration.
Property Size3,000 SF
Price / SF$598.33
Days on Market56
Property Features for 62-10 68th Avenue
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
4
Building Details
Buildings
1
Listing Agency:
Cushman & Wakefield New York
Listed By:
Dylan Walsh · License #10401384207
(718) 307-6517
Source:
Crexi
Added: Sep 3
Changed: Oct 25
Last Checked: Oct 28 at 7:42AM
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 Cushman & Wakefield New York
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Investment Insights
Based on property information with market context.
This four-unit apartment property contains 3,000 above-grade square feet across its residential layout. Three apartments are vacant, and the remaining unit can be provided vacant at closing. With the exception of unit 1R, the apartments have undergone gut renovations, while the basement offers approximately 800–1,000 SF of usable space and has been sheet-rocked.
The lower-level area presents a potential path to duplex the first-floor apartments, subject to applicable requirements. The building is located on 68th Avenue between 62nd and 64th Streets in the eastern section of Ridgewood, NY.
The lower-level area presents a potential path to duplex the first-floor apartments, subject to applicable requirements. The building is located on 68th Avenue between 62nd and 64th Streets in the eastern section of Ridgewood, NY.
Key Highlights
- Four residential units totaling 3,000 above‑grade SF
- Approximately 800‑1,000 SF of usable, sheet‑rocked basement space
- Three units are vacant; the fourth can be delivered vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,333
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,466,660
$1.5M
Cap Rate 7%
$1,047,614
$1.0M
Cap Rate 9%
$814,811
$814.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$138.6K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$133.3K $44.44/SF
− OpEx
−$60.0K −$20.00/SF
NOI
$73.3K $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%
$1,466,660
Cap Rate 7%
$1,047,614
Cap Rate 9%
$814,811
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 4.09%
Second Best
Multifamily LT 5
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,590
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Renovated apartments, a sheet-rocked basement, and vacant delivery provide a flexible multifamily configuration.
Where is this quadplex located?
The property is located at 62-10 68th Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Four residential units totaling 3,000 above‑grade SF; Approximately 800‑1,000 SF of usable, sheet‑rocked basement space; Three units are vacant; the fourth can be delivered vacant at closing
