351 Onderdonk Ave Ridgewood, NY 11385

Property Details for 351 Onderdonk Ave

Year built

1901

Property size

4,650 SF

Property type

Commercial real estate

Description

This exceptional Ridgewood, NY, mixed-use property presents a compelling investment opportunity. Located on the corner of DeKalb Avenue and Onderdonk Avenue, this 4,650 square foot brick building offers a versatile blend of commercial and residential spaces. The ground floor, a 1,500 square foot space currently operating as a doctor's office with a 1.5-year lease generating $3,500 monthly income, is classified as Use Group 4 and features its own central air conditioning. The second floor comprises two 2-bedroom, 2-bathroom apartments, each currently renting for $2,200 per month (tenants responsible for all utilities). No leases are in place, offering immediate occupancy or customization flexibility. An adjoining property at 18-60 DeKalb Avenue adds to the investment potential, including three garages (each generating $300 monthly rental income) and a separate two-bedroom apartment renting for $2,000 per month. The entire property boasts a substantial annual gross income of $129,600. Conveniently situated four blocks from the Dekalb L-train stop and Wyckoff Hospital, this property benefits from excellent accessibility and proximity to the vibrant Bushwick and Ridgewood neighborhoods. The building dimensions are 25 x 65 feet. Significant rental growth potential exists due to the absence of current residential leases. This property is ideal for both investors seeking strong returns and end-users looking for a prime location with diverse income streams.