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    16-65 Woodbine St Queens, NY 11385

    Sponsored
    For Sale
    $1,000,000

    Six-unit, fully occupied Queens apartment building.

    Property size:
    5,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This well-maintained, three-story walk-up apartment building at 16-65 Woodbine Street in Ridgewood, Queens, presents a compelling investment opportunity. Built in 1930, the property boasts 5,600 square feet and features six two-bedroom apartments, currently enjoying 100% occupancy. The asking price is $1,000,000, translating to $178 per square foot and $166,666 per unit. The building benefits from a 6.00% capitalization rate. Located mid-block on the west side of Woodbine Street, between St. Nicholas Avenue and Cypress Avenue, this property enjoys excellent access to public transportation. Nearby subway lines include the L and M trains at the Myrtle-Wyckoff Avenue station and the M train at the Seneca Avenue station. Its proximity to Myrtle Avenue and neighborhood shopping further enhances its appeal. The property is classified as a protected Tax Class 2A. The permitted zoning is R6B. This is a rare opportunity to acquire a stable, fully occupied multifamily building in a desirable Queens neighborhood.

    Property Features for 16-65 Woodbine St

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,600 SF

    Building Details

    Buildings
    1
    Stories
    3
    Units
    6

    HighLights

    • 100% Occupancy.
    • Tax Class 2A.
    • Excellent L & M train access.
    • Near Myrtle Avenue and local retail.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.9089508
    Latitude
    40.7007309

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    FAQs

    What type of property is this?
    Multifamily property - Six-unit, fully occupied Queens apartment building.
    Where is this multifamily property located?
    The property is located at 16-65 Woodbine St Queens, NY.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: 100% Occupancy.; Tax Class 2A.; Excellent L & M train access.
    Request Owner's contact information
    16-65 Woodbine St Queens, NY 11385
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    16-65 Woodbine St Queens, NY 11385
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