477 Fairview Avenue, Unit 1

477 Fairview Avenue, Unit 1

477 Fairview Ave
Ridgewood

$2,150,000
Price
7
Beds
6
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
a building view
a front view of a building with parking space
a kitchen with stainless steel appliances granite countertop a refrigerator a sink dishwasher a stove and white countertops with wooden floor
a view of wooden floor in an empty room
an empty room with wooden floor and windows
a kitchen with stainless steel appliances granite countertop a refrigerator and a sink
a view of a dining room with furniture and wooden floor
a living room with furniture
a bedroom with a bed and a flat screen tv
a bathroom with a toilet a sink and mirror

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 within 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.

Property Details for 477 Fairview Avenue, Unit 1

Zoning
R6B
Architectural Style
Prewar

Location

Listing Courtesy of Revived Residential
Add your commute
LISTING UPDATED: 03/06/2024 11:38 AM

Property Details for 477 Fairview Avenue, Unit 1

StatusActive
MLS IDPRCH-7855009
Days on Market65
Taxes$1,018 / month
Maintenance-
Min. Down Pymt-
Total Rooms15.0
Compass TypeMulti Family
MLS TypeMulti Family Townhouse
Year Built1920
Lot Size2,374 SF / 25' x 95'
CountyQueens County

Building

477 Fairview Ave

5 Units3 StoriesBuilt in 1920

Location

Listing Courtesy of Revived Residential
Add your commute

Building Information for 477 Fairview Avenue, Unit 1

Stories3Residences5Year Built1920Building Size25' x 56'Building Sq. Ft4,200 SFLot Size2,374 SF / 25' x 95'Building AgePre-warBuilding Type-

Payment Calculator

$12,751 per month

30 year fixed, 7.25% Interest

Principal and Interest

$11,733

Property Taxes

$1,018

Maintenance/Common Charges

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 477 Fairview Avenue, Unit 1

Summary
Location and General Information
  • Subdivision Name: Ridgewood
  • Stories Total: 3
  • Garage Spaces: 0.0
Taxes and HOA
  • Tax Lot: 0012
  • Tax Block: 03381
  • Association Fee Frequency: Monthly
  • Building Tax Lot: 0012
  • Tax Abatement YN: false
Parking
  • Garage: No
  • Garage Spaces Assigned YN: false
Property
Lot Information
  • Building Area Total: 4200.0
  • Building Area Units: SquareFeet
  • Lot Size Dimensions: 25.0 x 95.0
  • Living Area Units: SquareFeet
Building Information
  • Building Laundry Features: InBasement
  • Building Pets Allowed: BuildingYes
Property and Assessments
  • New Development: No
  • Sponsor Unit: No
  • Certificate Of Occupancy: No
  • Common Interest: None
  • New Construction: No
  • Structure Type: MultiFamily, Townhouse
Interior and Exterior Features
Interior Features
  • Fireplace: No
  • Furnished: Unfurnished
  • Laundry Features: InBasement
  • ElevatorsTotal: 0
  • Size Dimensions: 25x56
Multi Family
Multi-Family Information
  • Number Of Units Total: 5
Rental
Rental Information
  • Pets Allowed: UnitYes
  • Delivered Vacant: Yes
  • Attendance Type: None
  • Owner Pays Remarks: Call Listing Agent

Property History for 477 Fairview Avenue, Unit 1

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 477 Fairview Avenue, Unit 1

This home is within New York City Geographic District #24.
Rating
School
Type
Grades
Distance
P.S. 71 Forest
Public - PK to 5
Is 93 Ridgewood
Public - 6 to 8
Grover Cleveland H.S.
Public - 9 to 12
ACE Academy for Scholars at the Geraldine Ferraro Campus
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

ACE Academy for Scholars at the Geraldine Ferraro Campus
PublicPK 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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More information about 477 Fairview Avenue, Unit 1, Ridgewood

477 Fairview Avenue, Unit 1 is a multi-family home for sale in Ridgewood. This property was listed for sale on February 21, 2024 by Revived Residential, it's currently listed at $2,150,000. This listing's school district is New York City Geographic District #24. Nearby schools include P.S. 71 Forest, Is 93 Ridgewood and Grover Cleveland H.S.. 477 Fairview Avenue, Unit 1 is a 7-bed, 6-bath, multi-family home built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Revived Residential

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 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 2024, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. 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. ©2024 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.©2024 The Real Estate Board of New York, Inc., All rights reserved.