677 Grandview Ave
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677 Grandview Ave
9 Unit Block of Flats £938,033 (£104,226/Unit) 7.57% Net Initial Yield Ridgewood, NY 11385
Investment Highlights
- Historic
- Centrally Located
- Partially Renovated
Executive Summary
RENTERS HAVEN! LARGE BUILDING 34X65! 9 FAMILY WITH FULL BASEMENT! BRICK!
*Located in a Historically Significant Building composed of 3 large properties, 677 Grandview Ave sits in its Center.
Beautiful architecture as well as close proximity to multiple means of travel make this property desirable to both renters as well as investors.*
1st Floor: (4) Studio/One Bedroom Apts
2nd Floor: (2) Two/ Flex Three Bedroom Apts
3rd Floor: (2) One Bedroom Apts and (1) Two/ Flex Three Bedroom Apt
Full Basement
SHORT WALK TO THE FOREST AVE M-LINE AND MYRTLE WYCKOFF M/L-LINE!
THIS IS A FULLY FUNCTIONAL…TURN KEY…INCOME PRODUCER IN RIDGEWOOD, QUEENS
Renters LOVE:
- Only a 5 Minute walk to the Forest Ave M-Line Subway.
- The walkability of a neighborhood that is fully equipped with what you need just a corner away.
- Restaurants, Bars, and Everything In Between.
- A Pet-Friendly neighborhood that has been experiencing a wave of Brooklyn Renters looking for a place to call home. *Local Brooklyn Renters have been getting increasingly frustrated with high Brooklyn Rents flooding Ridgewood with a growing art scene and cultured ideas.*
Investors LOVE:
- This is an Excellent Rent Roll Opportunity to own a middle property in the Iconic "Matthews Model Flats", the apartment houses that served as Ridgewood's Foundation. Groceries, Delis, Pharmacies, Dining, Bars, Hair and Nails…if your renter needs it…they will find it!
-What Makes this Renters Haven Heavenly is the Commutability:
-WALKING DISTANCE TO THE SUBWAY: Forest Avenue M-Line is only 5 Minutes Away and Myrtle Wyckoff M/L Line is only 15 Minutes away
-WALKING DISTANCE TO THE BUSES: B13, B20, Q39, Q58,
- This is a 9 Unit Building and 2 units will be delivered VACANT
-This is a Rent Stabilized Building, all Renters are On-Time
-*STRATEGY*: By being a center unit Property you give yourself an opportunity to be the 1st to purchase the properties left and right of 677 Grandview Ave...giving you a bigger opportunity to own the Triangle.
- LOCATION, LOCATION, LOCATION!
Other Important Details:
Built in 1914/ Landmarked
Building is R6-B Zoning
Building Size: 34X65
Lot Size: 34X65.75
Taxes: $27,188.12 Annually
15 Beds/ 9 Baths
2,210 sqft per floor. Total Building is about 8,840 sqft
I COBROKE! BRING YOUR BUYERS!
Buyers must perform own due diligence. All info deemed accurate but not reliable.
*Located in a Historically Significant Building composed of 3 large properties, 677 Grandview Ave sits in its Center.
Beautiful architecture as well as close proximity to multiple means of travel make this property desirable to both renters as well as investors.*
1st Floor: (4) Studio/One Bedroom Apts
2nd Floor: (2) Two/ Flex Three Bedroom Apts
3rd Floor: (2) One Bedroom Apts and (1) Two/ Flex Three Bedroom Apt
Full Basement
SHORT WALK TO THE FOREST AVE M-LINE AND MYRTLE WYCKOFF M/L-LINE!
THIS IS A FULLY FUNCTIONAL…TURN KEY…INCOME PRODUCER IN RIDGEWOOD, QUEENS
Renters LOVE:
- Only a 5 Minute walk to the Forest Ave M-Line Subway.
- The walkability of a neighborhood that is fully equipped with what you need just a corner away.
- Restaurants, Bars, and Everything In Between.
- A Pet-Friendly neighborhood that has been experiencing a wave of Brooklyn Renters looking for a place to call home. *Local Brooklyn Renters have been getting increasingly frustrated with high Brooklyn Rents flooding Ridgewood with a growing art scene and cultured ideas.*
Investors LOVE:
- This is an Excellent Rent Roll Opportunity to own a middle property in the Iconic "Matthews Model Flats", the apartment houses that served as Ridgewood's Foundation. Groceries, Delis, Pharmacies, Dining, Bars, Hair and Nails…if your renter needs it…they will find it!
-What Makes this Renters Haven Heavenly is the Commutability:
-WALKING DISTANCE TO THE SUBWAY: Forest Avenue M-Line is only 5 Minutes Away and Myrtle Wyckoff M/L Line is only 15 Minutes away
-WALKING DISTANCE TO THE BUSES: B13, B20, Q39, Q58,
- This is a 9 Unit Building and 2 units will be delivered VACANT
-This is a Rent Stabilized Building, all Renters are On-Time
-*STRATEGY*: By being a center unit Property you give yourself an opportunity to be the 1st to purchase the properties left and right of 677 Grandview Ave...giving you a bigger opportunity to own the Triangle.
- LOCATION, LOCATION, LOCATION!
Other Important Details:
Built in 1914/ Landmarked
Building is R6-B Zoning
Building Size: 34X65
Lot Size: 34X65.75
Taxes: $27,188.12 Annually
15 Beds/ 9 Baths
2,210 sqft per floor. Total Building is about 8,840 sqft
I COBROKE! BRING YOUR BUYERS!
Buyers must perform own due diligence. All info deemed accurate but not reliable.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£94,405
|
£16.24
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£94,405
|
£16.24
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £94,405 |
| Annual Per SF | £16.24 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £94,405 |
| Annual Per SF | £16.24 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | £938,033 | Property Subtype | Apartment |
| Price Per Unit | £104,226 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Net Initial Yield | 7.57% | Building Size | 5,814 SF |
| Gross Rent Multiplier | 18.38 | Number of Floors | 3 |
| No. Units | 9 | Year Built | 1914 |
| Property Type | Residential |
| Price | £938,033 |
| Price Per Unit | £104,226 |
| Sale Type | Investment |
| Net Initial Yield | 7.57% |
| Gross Rent Multiplier | 18.38 |
| No. Units | 9 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 5,814 SF |
| Number of Floors | 3 |
| Year Built | 1914 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 3+1 | 3 | - | - |
1 of 1
Walk Score ®
Walker's Paradise (95)
Transit Score ®
Rider's Paradise (93)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 03488-0003 | Improvements Assessment | £185,069 (2024) |
| Land Assessment | £3,765 (2024) | Total Assessment | £188,835 (2024) |
PROPERTY TAXES
Parcel Number
03488-0003
Land Assessment
£3,765 (2024)
Improvements Assessment
£185,069 (2024)
Total Assessment
£188,835 (2024)
zoning
| Zoning Code | R6B |
| R6B |
-
Amberly Sclar -
BLT Minimax Realty Inc
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677 Grandview Ave
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