Quadplex with Private Backyard and
For Sale
$1,399,000
Pending
6415 Myrtle Avenue, Ridgewood, NY 11385
Quadplex on Myrtle Avenue with a full finished basement, private backyard, and zoning potential for R5D and C1-3.
Property Size3,000 SF
Days on Market66
Property Features for 6415 Myrtle Avenue
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Quadruplex
Building Details
Building Size
3,000 SF
Year Built
1927
Listing Agency:
Prime America Real Estate Inc
(718) 791-1365
Listed By:
Natalie Ferrigno
Source:
Serhant
Added: May 28
Changed: Jul 31
Last Checked: Jul 31 at 11:27AM
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 Prime America Real Estate Inc
Investment Insights
Based on property information with market context.
This quadplex offers classic pre-war character and flexible use possibilities, built in 1927 and approximately 3,000 SF. The layout includes a full finished basement and a huge private backyard, creating practical indoor and outdoor space for tenants or future reconfiguration.
Set along highly visible Myrtle Avenue, the property is positioned amid active residential and commercial activity, with surrounding shopping, dining, services, and public transportation access.
Zoning is listed with potential for R5D and C1-3. That zoning flexibility may support buyers evaluating future value-add, mixed-use, or redevelopment directions, while still benefiting from the property’s established multifamily configuration.
Set along highly visible Myrtle Avenue, the property is positioned amid active residential and commercial activity, with surrounding shopping, dining, services, and public transportation access.
Zoning is listed with potential for R5D and C1-3. That zoning flexibility may support buyers evaluating future value-add, mixed-use, or redevelopment directions, while still benefiting from the property’s established multifamily configuration.
Key Highlights
- Approximately 3,000 SF quadplex built in 1927
- Full finished basement
- Huge private backyard
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $138.6k | $46.20 |
| − Vacancy | −$5.3k | −$1.76 |
| EGI | $133.3k | $44.44 |
| − OpEx | −$60.0k | −$20.00 |
| NOI | $73.3k | $24.44 |
3,000 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 5.24%
Second Best
Multifamily LT 5
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,538
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 - Quadplex on Myrtle Avenue with a full finished basement, private backyard, and zoning potential for R5D and C1-3.
Where is this quadplex located?
The property is located at 6415 Myrtle Avenue Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Approximately 3,000 SF quadplex built in 1927; Full finished basement; Huge private backyard
