2 Maple AveWoodridge, NY 12789

Property Details for 2 Maple Ave

Year built

1950

Lot size

0.30 AC

Property size (Sq ft)

5,001 SF

Zone code

B

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

482801 106.-2-9

APU

48280110629

Description

This exceptional 7,409 square foot property located at 2 Maple Ave S, Woodridge, NY, presents a lucrative investment opportunity for discerning buyers. Situated on a 0.3-acre lot, this mixed-use property boasts approved plans for the immediate development of ten luxury units, making it a truly shovel-ready project. Detailed floor plans are readily available for review, showcasing the thoughtfully designed layout of these upscale residential units. The existing approvals streamline the development process, significantly reducing time and potential hurdles. Beyond the immediate ten-unit development, preliminary plans are also in place for an additional twenty units, expanding the potential rental income and overall return on investment. This presents a unique opportunity to create a substantial multifamily complex in a desirable location. The asking price of $1,350,000 reflects the significant value and potential inherent in this property. The approved plans, combined with the potential for future expansion, position this property as a prime investment for those seeking immediate returns and long-term growth in the Woodridge, NY market. Don't miss this chance to acquire a truly exceptional multifamily development opportunity. All necessary documentation, including approved plans and preliminary plans for the additional units, is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $1,242,326

  6.5%

  $1,146,762

  7%

  $1,064,851

• Comparable approach

  Method

  Valuation

  Relative Method

  $657,823

  Geo Method

  $653,431

• Alternative Use

  Use

  Valuation

  Residential

  $1,421,985

  Hospitality

  $1,302,531

  Educational

  $1,083,690

  Medical

  $1,120,960

  Retail

  $1,685,741

Location Insight

City

Woodridge

County

Sullivan

State

New York

Latitude

41.7108

Longitude

-74.5738

Property Tax & Assessments

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