Brick Duplex with Private
For Sale
$1,765,000
Pending
64-07 68th Avenue, Ridgewood, NY 11385
Two legal residences offer two- and three-bedroom layouts, each with a private balcony.
Property Size2,200 SF
Days on Market9
Property Features for 64-07 68th Avenue
General Information
Standard status
Pending
Size
2,200 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,487
Amenities
stainless steel appliances
private balcony
finished basement
hardwood floors
private yard
Finished,Full
2
Yes
5
Other
Finished, Full
Public
No
On Street
2200
Building Details
Building Size
2,200 SF
Year Built
1930
Stories
2
Construction
brick
Listing Agency:
(516) 703-2918
Listed By:
Michael Giordano
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 28
Last Checked: Oct 28 at 2:42PM
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 Michael Giordano
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Investment Insights
Based on property information with market context.
This renovated, all-brick duplex contains two legal residences. The first-floor unit has two bedrooms, a living room, kitchen, full bathroom, and private balcony; it can also connect to the finished basement. The second-floor residence includes three bedrooms, a living room, kitchen, full bathroom, and its own balcony. Hardwood floors extend throughout, and the basement has a separate entrance and high ceilings. A private yard completes the property.
At 64-07 68th Avenue in Ridgewood, the property is near the M train, bus service, restaurants, and shopping. Built in 1930, it offers a two-unit configuration with distinct living areas and outdoor space.
At 64-07 68th Avenue in Ridgewood, the property is near the M train, bus service, restaurants, and shopping. Built in 1930, it offers a two-unit configuration with distinct living areas and outdoor space.
Key Highlights
- Legal two‑family property with separate two- and three‑bedroom residences
- Finished basement has high ceilings and a separate entrance
- Private balcony for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,778
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,075,560
$1.1M
Cap Rate 7%
$768,257
$768.3K
Cap Rate 9%
$597,533
$597.5K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$101.6K $46.20/SF
− Vacancy
−$3.9K −$1.76/SF
EGI
$97.8K $44.44/SF
− OpEx
−$44.0K −$20.00/SF
NOI
$53.8K $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 Rate 5%
$1,075,560
Cap Rate 7%
$768,257
Cap Rate 9%
$597,533
Alternative Uses
Best Use
Apartment 5plus
$768.3K
$672.2K – $896.3K
NOI $53,778 @ 7.0% cap · market cap 3.05%
Second Best
Multifamily LT 5
$520.2K
$455.2K – $606.9K
NOI $36,414 @ 7.0% cap · market cap 2.06%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,531 @ 7.0% cap · market cap 6.43%
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
4,590
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two legal residences offer two- and three-bedroom layouts, each with a private balcony.
Where is this duplex located?
The property is located at 64-07 68th Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,765,000.
What are key features of this property?
This property features: Legal two‑family property with separate two- and three‑bedroom residences; Finished basement has high ceilings and a separate entrance; Private balcony for each residence
