389 Spring Ave

Sq. Ft.
/ Sq. Ft.
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per Sq. Ft.

Description

Come and See this rare multifamily investment opportunity in the heart of Ridgewood! Live in one unit and have the other two tenants pay your mortgage or rent out all three and collect income! This rare 3 family property sits on over half an acre and has endless possibilities. The owner currently lives in Unit 1, Unit 2 is vacant & Unit 3 has a tenant. Unit 1 features 2 bedrooms, eat in kitchen, bathroom, large living room, large dining room & family room. The family room can be converted back into...Come and See this rare multifamily investment opportunity in the heart of Ridgewood! Live in one unit and have the other two tenants pay your mortgage or rent out all three and collect income! This rare 3 family property sits on over half an acre and has endless possibilities. The owner currently lives in Unit 1, Unit 2 is vacant & Unit 3 has a tenant. Unit 1 features 2 bedrooms, eat in kitchen, bathroom, large living room, large dining room & family room. The family room can be converted back into a third bedroom. Unit 2 features 3 bedrooms, 1 bathroom, living room/dining room. Unit 3 features one bedroom & one bathroom, kitchen & living room. Property has a large unfinished basement which you can also access from outside. Significant rent increases can be available through renovation on top of high cash on cash yield in place for a family seeking a rental income offset or investor. Close to NYC transit, local shops, schools, and parks. Don't miss this opportunity
  1. Listed by David Ciliento • Modern Realty Group
    P: (973)-332-6578 dave@modernrealtynj.com

Property Details for 389 Spring Avenue

Style
3 Family
Sub style
Other
LISTING CLOSED: 10/24/2022 08:00 PM

Property Details for 389 Spring Avenue

StatusSold - Sold
MLS #22021629
Days on Market121
Taxes$24,952 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS Type2-4 Family
Year Built-
Lot Size-
CountyBergen County

Location

Listing Courtesy of Modern Realty Group, David Ciliento

Sold By Modern Realty Group, Hanan Altaai

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Payment Calculator

$6,813 per month

30 year fixed, 6.36% Interest

Principal and Interest

$4,734

Property Taxes

$2,079

HOA Dues

$0

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Property Information for 389 Spring Avenue

Summary
Location and General Information
  • Area name: Ridgewood
  • Flood plain: None
  • Street Name: Spring
  • County Name: BERGEN
  • Status: Closed
  • Street Number Numeric: 389
  • Zip Code: 07450
Taxes and HOA Information
  • Other Charges: True
  • Tax: $24,952
Property
Lot Information
  • Year Built: 1900-1939, Renovated, Build Prior to 1978
Property and Assessments
  • Photo Number: 38
Interior and Exterior Features
Interior Features
  • Bedrooms: 6
  • Baths full: 4
  • Baths partial: 0
  • Basement Description: Unfinished / Storage / Full Bath
  • Number of rooms: 13
  • Full Baths Total: 4
  • Num of Baths: 4.0
Agent
Sale and Listing Information
  • Management Phone: (973) 332-6578
  • Search Class: 2to4, 2-4 Family
  • List Price: $1,299,999.00
  • Listing Date: 06-13-2022
  • Pending Date: 09-02-2022
  • Close Date: 10-25-2022
  • Status Date: 10-24-2022
  • Sale Price: $950,000
Showing Information
  • Internet Remarks: Come and See this rare multifamily investment opportunity in the heart of Ridgewood! Live in one unit and have the other two tenants pay your mortgage or rent out all three and collect income! This rare 3 family property sits on over half an acre and has endless possibilities. The owner currently lives in Unit 1, Unit 2 is vacant & Unit 3 has a tenant. Unit 1 features 2 bedrooms, eat in kitchen, bathroom, large living room, large dining room & family room. The family room can be converted back into a third bedroom. Unit 2 features 3 bedrooms, 1 bathroom, living room/dining room. Unit 3 features one bedroom & one bathroom, kitchen & living room. Property has a large unfinished basement which you can also access from outside. Significant rent increases can be available through renovation on top of high cash on cash yield in place for a family seeking a rental income offset or investor. Close to NYC transit, local shops, schools, and parks. Don't miss this opportunity

Property History for 389 Spring Avenue

DateEvent & SourcePriceAppreciation
Oct 24, 2022

Sold

NJMLS #22021629

$950,000
Oct 12, 2022

Sold (Public Record)

Public Record #1502133459

$950,000
Jun 12, 2022

Listed (Active)

NJMLS #22021629

$1,299,999
DateEvent & SourcePrice
10/24/2022

Sold

NJMLS #22021629

$950,000
10/12/2022

Sold (Public Record)

Public Record #1502133459

$950,000
06/12/2022

Listed (Active)

NJMLS #22021629

$1,299,999

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 389 Spring Avenue

Taxable ValueLand$564,000Additions$678,900Total$1,242,900
Tax Record2024$36,316 ($3,026 / month)
Home Facts
Total Finished SqFt4,137 SqFtAbove Grade Finished SqFt4,137 SqFtStories2Lot Size25,265 SqFtStyleTriplexYear Built1910ZoningR125CountyBERGENAPN51 04008-0000-00009

Schools near 389 Spring Avenue

This home is within Ridgewood Public School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Willard Elementary School
PublicK to 5

Benjamin Franklin Middle School
Public6 to 8

Ridgewood High School
Public9 to 12

Ridge Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Modern Realty Group, David Ciliento

The data relating to the real estate for sale on this website comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than (insert office name) aremarked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. All information deemed reliable but not guaranteed. Last date updated: 07/22/2026 04:07 AM. Source: New Jersey Multiple Listing Service, Inc. © 2026 New Jersey Multiple Listing Service, Inc. All rights. The data relating to the real estate for sale and sold listing information on this website comes from the New Jersey Multiple Listing Service, Inc. Virtual Office Website (VOW) program. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. Sold listings may have been listed and/or sold by a real estate brokerage other than (insert office name). All information deemed reliable but not guaranteed. NLMLS makes no representation or warranty regarding the accuracy of the data. This data and information is protected under federal copyright laws which prohibit the unauthorized copying or alternation of all or any part of copyrighted materials, including certain compilations of data and information. Copyright violators may be subject to severe fines and penalties under federal law. Source: New Jersey Multiple Listing Service Inc. Last date updated: 07/22/2026 04:07 AM © 2026 New Jersey Multiple Listing Service Inc. All rights reserved.