58-40 Catalpa Avenue
Description
Welcome to 58-40 Catalpa Avenue, an exceptional three-family brick residence in the heart of Ridgewood, offering an outstanding combination of space, versatility, and income-producing potential.
Meticulously maintained and thoughtfully cared for, this substantial property spans approximately 3,780 square feet of total floor area, including a full unfinished basement, and presents...A RARE RIDGEWOOD INVESTMENT OPPORTUNITY—THREE RESIDENCES, EXISTING RENTAL INCOME, AND NEARLY 3,800 SQUARE FEET UNDER ONE ROOF.
Welcome to 58-40 Catalpa Avenue, an exceptional three-family brick residence in the heart of Ridgewood, offering an outstanding combination of space, versatility, and income-producing potential.
Meticulously maintained and thoughtfully cared for, this substantial property spans approximately 3,780 square feet of total floor area, including a full unfinished basement, and presents an excellent opportunity for investors, end users, or buyers seeking a multi-generational living arrangement.
The first-floor residence features two generously proportioned bedrooms and one full bathroom, complemented by a comfortable living and dining layout. An especially desirable feature is direct access to the private rear yard, creating a seamless extension of the living space for outdoor dining, entertaining, gardening, or simply enjoying a private retreat.
The second and third floors each offer spacious three-bedroom, one-bathroom layouts designed to maximize both functionality and natural light. Well-proportioned bedrooms, comfortable common areas, abundant windows, and practical layouts make these residences particularly attractive for today’s rental market.
Beyond the individual apartments, the property offers a full basement, providing substantial additional space and flexibility for storage and other permitted uses.
The building has also benefited from important infrastructure improvements, including updated electrical service and new gas lines, adding significant value and providing greater peace of mind for its next owner.
With three residential units, strong projected rental income, substantial square footage, classic brick construction, and a highly desirable Ridgewood location, 58-40 Catalpa Avenue represents a compelling opportunity to own a significant piece of Queens real estate.
Enjoy convenient access to neighborhood shopping, dining, transportation, and everything that has made Ridgewood one of Queens’ most sought-after residential communities.
Property Financial Overview
Expense
Annual Amount
Real Estate Taxes: $10,000
Water: $3,000
Gas: $8,000
Con Edison / Electric: $2,000
Insurance: $2,500
Total Estimated Annual Expenses: $25,500
Projected Rental Income
First Floor: $2,200- $26,400
Second Floor: $2,800 - $33,600
Third Floor: $2,350 -$28,200
Total: $7,350/month - $88,200/year
Projected Gross Annual Rental Income: $88,200 Estimated Annual Operating Expenses: $25,500 Estimated Net Operating Income: $62,700/year
Figures are estimates provided for informational purposes and should be independently verified by prospective purchasers.
***THE PROPERTY IS CURRENTLY FULLY OCCUPIED BY LONG-TERM TENANTS, ALL OF WHOM ARE AWARE THAT THE BUILDING IS BEING OFFERED FOR SALE. THE BUILDING IS BEING DELIVERED WITH TWO EXISTING LEASES AND ONE MONTH-TO-MONTH TENANCY. THE FIRST-FLOOR LEASE RUNS THROUGH THE END OF JANUARY 2027, THE SECOND-FLOOR LEASE RUNS THROUGH THE END OF SEPTEMBER 2026, AND THE THIRD-FLOOR RESIDENCE IS CURRENTLY OCCUPIED ON A MONTH-TO-MONTH BASIS. THE SELLER’S PREFERENCE IS TO DELIVER THE PROPERTY OCCUPIED, IF POSSIBLE, PROVIDING A PROSPECTIVE PURCHASER WITH EXISTING TENANCY AND RENTAL INCOME FROM THE OUTSET. ***
Three residences. One exceptional opportunity. Welcome to 58-40 Catalpa Avenue.
Amenities
- Home Office
- Basement
- Full Basement
- Gas Heat
Location
Listing Courtesy of: .
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Payment Calculator
$9,310 per month
30 year fixed, 6.55% Interest
$8,577
$733
$0
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1Property Information for 58-40 Catalpa Avenue
- Taxes: $733 / month
- Min. Down Pymt: 10%
- Total Rooms: 15.0
- MLS Type: Triplex
- County: Queens County
- Buyer's Agent Compensation: 1%
- Stories: 3
- Residences: 3
- Year Built: 1901
- Building Size: 18' x 49'
- Building Sq. Ft: 2,646 SF
- Lot Size: 1,787 SF
Property History for 58-40 Catalpa Avenue
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Aug 23, 2026 | Listed (Active) Manual | $1,499,999 | — |
| Nov 1, 2025 | Temporarily Off Market ONEKEY #867528 | $1,679,999 | — |
| May 27, 2025 | Listed (Active) ONEKEY #867528 | $1,699,999 | — |
| Date | Event & Source | Price |
|---|---|---|
| 08/23/2026 | Listed (Active) Manual | $1,499,999 |
| 11/01/2025 | Temporarily Off Market ONEKEY #867528 | $1,679,999 |
| 05/27/2025 | Listed (Active) ONEKEY #867528 | $1,699,999 |
For completeness, we often displays two records for one sale: the MLS record and the public record.
Public Records for 58-40 Catalpa Avenue
Schools near 58-40 Catalpa Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
P.S. 88 Seneca PublicPK to 5 | ||
Joseph F Quinn Intermediate School 77 Public6 to 8 | ||
Voyages Preparatory Public9 to 12 | ||
High School for Arts and Business Public9 to 12 |
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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2026, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2026 The Real Estate Board of New York, Inc., All rights reserved.