Multifamily Property with Finished
New
For Sale
$1,399,000
Pending
6415 Myrtle Avenue, Ridgewood, NY 11385
A private backyard and proximity to shopping, dining, services, and public transportation complement the property's interior space.
Property Size3,000 SF
Days on Market4
Property Features for 6415 Myrtle Avenue
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Residential Income
Zoning
R5D, C1-3
Site & Location
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,059
Amenities
Finished,Full
Hardwood,Laminate
4
Yes
8
Original Details
Finished, Full
Public
No
3000
Building Details
Building Size
3,000 SF
Year Built
1927
Listing Agency:
Prime America Real Estate Inc
(516) 703-2918
Listed By:
Aman Deep Sabharwal
Source:
Hedgestonehomes
Added: Oct 29
Changed: Oct 31
Last Checked: Oct 29 at 2:46PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1927, this multifamily property contains approximately 3,000 square feet. Interior features include a full finished basement, hardwood and laminate flooring, and original details. A private backyard extends the property's available space outdoors.
The building sits on Myrtle Avenue in a corridor with residential and commercial activity. Shopping, dining, services, and public transportation are in the surrounding area.
The building sits on Myrtle Avenue in a corridor with residential and commercial activity. Shopping, dining, services, and public transportation are in the surrounding area.
Key Highlights
- Approximately 3,000 square feet
- Built in 1927
- Full finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,333
Cap Rate
5.24%
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 5.24%
Second Best
—
—
no second resolved use
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,916
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
Check the figures for this property
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?
Multifamily property - A private backyard and proximity to shopping, dining, services, and public transportation complement the property's interior space.
Where is this multifamily property 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 square feet; Built in 1927; Full finished basement
