Multifamily
For Sale
$1,599,000
783 Seneca Avenue, Queens, NY 11385
Multifamily asset offered for sale in Ridgewood, New York.
Property Size4,650 SF
Price / SF$343.87
Days on Market1437
Property Features for 783 Seneca Avenue
General Information
Standard status
Active
Size
4,650 SF
Property subtype
Multi Family
Additional Details
Cap Rate
4.1%
Taxes and HOA fees
Annual Taxes
$15,208
Amenities
No, No, On Street
Bilco Door(s), Full, Partially Finished, Walk-Out Access
Apartment, Near Public Transportation, Public
4650
30
2+ Common Walls
Square Feet
Walk Out Basement, Near Public Transportation
No
Brick
On Street, Near Public Transportation, Near Public Transit
Building Details
Year Built
1930
Listing Agency:
Property Professionals Realty
Listed By:
Arjun Nagpal · License #10401388780
(516) 605-2700
Source:
Compass
Added: Nov 13, 2022
Changed: Oct 19
Last Checked: Oct 19 at 8:58AM
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 Property Professionals Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property is offered for sale at 783 Seneca Avenue in Ridgewood, New York 11385. The property is identified as a multifamily asset and carries a 4.10% capitalization rate.
Key Highlights
- 4.10% capitalization rate
- Located at 783 Seneca Avenue, Ridgewood, NY 11385
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,667
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,273,340
$2.3M
Cap Rate 7%
$1,623,814
$1.6M
Cap Rate 9%
$1,262,967
$1.3M
Market Conditions
NOI Build-Up for 4,650 SF
Gross rent
$214.8K $46.20/SF
− Vacancy
−$8.2K −$1.76/SF
EGI
$206.7K $44.44/SF
− OpEx
−$93.0K −$20.00/SF
NOI
$113.7K $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%
$2,273,340
Cap Rate 7%
$1,623,814
Cap Rate 9%
$1,262,967
Alternative Uses
Best Use
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,667 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $239,962 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
2,275
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily asset offered for sale in Ridgewood, New York.
Where is this multifamily property located?
The property is located at 783 Seneca Avenue Queens, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: 4.10% capitalization rate; Located at 783 Seneca Avenue, Ridgewood, NY 11385
