Free-Market Multifamily, Tax Class 2A | 17-31 Linden St
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Free-Market Multifamily, Tax Class 2A 17-31 Linden St
7 Unit Block of Flats £2,274,789 (£324,970/Unit) 6.31% Net Initial Yield Ridgewood, NY 11385
Investment Highlights
- Fully Renovated in 2017: The renovated apartments were fully gutted and rebuilt, featuring new flooring, framing, drywall, doors, upgraded electrical.
- Unit Breakdown: 2 1-bedroom units, 4 2-bedroom units, 1 3-bedroom unit.
- Tax Class 2A: Assessed value can rise no more than 8% a year or 30% over five years
Executive Summary
RIPCO Real Estate has been retained on an exclusive basis to arrange for the sale of 17-31 Linden Street, Ridgewood, NY 11385. Highlights of the property are listed below:
The renovated apartments were fully gutted and rebuilt, featuring new flooring, framing, drywall, doors, upgraded electrical and plumbing, custom kitchens, and modern bathrooms. Central heating, air conditioning, new furnaces, split systems, and new windows were installed. Common areas saw roof replacement, sump pumps, storage closets, hallway updates, and the cellar was excavated to increase ceiling height and there's a new concrete cellar floor. A full list of renovations available upon request.
Unit Breakdown
- (2) 1-bedroom/1-bath units on ground floor with access to washer/dryer in basement
- (4) 2-bedroom/1.5 bath units on floors two/three with in-unit washer/dryer
- (1) three-bedroom duplex on the ground floor with in-unit washer/dryer and enormous rec room/den on cellar level
Tax Class 2A: Assessed value can rise no more than 8% a year or 30% over five years
Convenient Location for Commuters: Two-blocks to Seneca Avenue M-subway train, and five-minute walk to Myrtle-Wyckoff L-subway train
The renovated apartments were fully gutted and rebuilt, featuring new flooring, framing, drywall, doors, upgraded electrical and plumbing, custom kitchens, and modern bathrooms. Central heating, air conditioning, new furnaces, split systems, and new windows were installed. Common areas saw roof replacement, sump pumps, storage closets, hallway updates, and the cellar was excavated to increase ceiling height and there's a new concrete cellar floor. A full list of renovations available upon request.
Unit Breakdown
- (2) 1-bedroom/1-bath units on ground floor with access to washer/dryer in basement
- (4) 2-bedroom/1.5 bath units on floors two/three with in-unit washer/dryer
- (1) three-bedroom duplex on the ground floor with in-unit washer/dryer and enormous rec room/den on cellar level
Tax Class 2A: Assessed value can rise no more than 8% a year or 30% over five years
Convenient Location for Commuters: Two-blocks to Seneca Avenue M-subway train, and five-minute walk to Myrtle-Wyckoff L-subway train
Property Facts
| Price | £2,274,789 | Apartment Style | Low Rise |
| Price Per Unit | £324,970 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Net Initial Yield | 6.31% | Building Size | 5,300 SF |
| No. Units | 7 | Average Occupancy | 100% |
| Property Type | Residential | Number of Floors | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1930/2017 |
| Price | £2,274,789 |
| Price Per Unit | £324,970 |
| Sale Type | Investment |
| Net Initial Yield | 6.31% |
| No. Units | 7 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,300 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built/Renovated | 1930/2017 |
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Walk Score ®
Walker's Paradise (90)
Transit Score ®
Rider's Paradise (99)
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 03441-0040 | Improvements Assessment | £96,932 |
| Land Assessment | £6,659 | Total Assessment | £103,591 |
PROPERTY TAXES
Parcel Number
03441-0040
Land Assessment
£6,659
Improvements Assessment
£96,932
Total Assessment
£103,591
zoning
| Zoning Code | R6B |
| R6B |
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Brian Whelan -
Power Broker Stephen Preuss -
Mitchel Flaherty -
Kevin Schmitz -
Andreas Efthymiou -
Andrew LeoGrande -
Christian Allimonos -
Jonathan Auerbach -
RIPCO Real Estate
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Free-Market Multifamily, Tax Class 2A | 17-31 Linden St
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