477 Fairview Avenue
477 Fairview Avenue
$2,150,000
11
5
4,200
4,200
$512
Description
Looking for a unicorn investment property? It is not often that you’re able to find a massive legal five family building that is in excellent shape, can be delivered vacant at closing and is in a prime-time neighborhood. This building is 4,200 square feet, it is comprised of four two-bedroom railroad style apartments and one enormous true three bedroom, two bath apartment with access to the backyard. There is also a full basement, with multiple coin operated washing machines and updated mechanicals....Looking for a unicorn investment property? It is not often that you’re able to find a massive legal five family building that is in excellent shape, can be delivered vacant at closing and is in a prime-time neighborhood. This building is 4,200 square feet, it is comprised of four two-bedroom railroad style apartments and one enormous true three bedroom, two bath apartment with access to the backyard. There is also a full basement, with multiple coin operated washing machines and updated mechanicals. This building is 25x56 and sits on a 25x95 lot and I zoned R6B. You are located in prime Ridgewood, just outside the landmarked district and with in blocks of the L and M train. Being this is such a great location; you should never have a vacancy. The expenses are currently just under $30,000 a year and potential rent roll is close to $190,000 a year. You should end up with a 7-7.5% cap rate on this building. This could also be a great condo conversion, whether it is now or if you hold it and do it in the future. This is a perfect 1031 situation.
- Listed by Louis Belisario • Revived Residential
- Listed by Michael Chindemi • Revived Residential
Amenities
- Walk Up
- Washer / Dryer in Unit
- Laundry in Building
- Basement
- Private Outdoor Space
- Parking Included
- Full Basement
- Lowrise
Location
LISTING UPDATED: 04/04/2024 12:02 PM
Property Details for 477 Fairview Avenue
Status | Active |
---|---|
MLS ID | 479977 |
Days on Market | 72 |
Taxes | $12,222 / year |
Maintenance | - |
Min. Down Pymt | - |
Total Rooms | - |
Compass Type | Multi Family |
MLS Type | Residential |
Year Built | 1920 |
Lot Size | 2,375 SF / 25' x 95' |
County | Queens County |
Building
Location
Building Information for 477 Fairview Avenue
Stories3Residences5Year Built1920Building Size25' x 56'Building Sq. Ft4,200 SFLot Size2,375 SF / 25' x 95'Building AgePre-warBuilding Type-
Payment Calculator
$12,752 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 477 Fairview Avenue
Property History for 477 Fairview Avenue
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 477 Fairview Avenue
Taxable ValueLand$41,850Additions$261,900Total$303,750
Home Facts
Total Finished SqFt4,200 SqFtLot Size2,374 SqFtYear Built1920ZoningR6BAPN4033810012
Schools near 477 Fairview Avenue
This home is within New York City Geographic District #24.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | PK to 5 |
Rating | School | Distance |
---|---|---|
P.S. 71 Forest PublicPK to 5 | ||
Is 93 Ridgewood Public6 to 8 | ||
Grover Cleveland H.S. 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.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.