6-60 Seneca Ave Queens, NY 11385
- Apartment buildings
- 3,120 SF
Current Use by Public Records
- Apartment buildings
Property Details for 6-60 Seneca Ave
- Year built
- 1930
- Property size
- 3,120 SF
- Property type
- Apartment buildings
Description
This 3-unit apartment building at 660 Seneca Avenue, Ridgewood, Queens, NY 11385, offers a compelling investment opportunity. Built in 1930, the property boasts 3,120 square feet of net rentable space. Ideally situated between Linden Street and Gates Avenue, it benefits from its prime location on the border of Bushwick, Brooklyn, a neighborhood experiencing significant growth. The property is well-maintained and currently leased, presenting immediate cash flow. However, significant value-add potential exists through renovations, maximizing rental income. Furthermore, the property has air rights allowing for an additional approximately 480 square feet of buildable space (total 3,600 SF). An existing retail lease expires in December 2024, offering the potential for owner-occupancy. The building's proximity to public transportation is another key advantage, with the M train just one block away and the L train a short 10-minute walk. The property is classified under the protected tax class 2A, providing tax benefits. This is a rare opportunity to acquire a well-located multifamily property in a rapidly appreciating area of New York City, offering both immediate returns and long-term growth potential. Asking price is $1,500,000.
Value Estimation
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.9088
- Latitude
- 40.7035
