1701 Gates Avenue, Ridgewood, NY

About 1701 Gates Avenue

**FINALLY ALL RENTALS ARE VACANT!!** *WOW! GROSS CAP RATE OF 9.28% / NET CAP RATE OF 7.94% !* **Projected Annual GROSS Rental Income: Just for Residential $255k. With Commercial $297k** (Average Renovated 3 Bed Boxed Layout is $4,250 Monthly / Commercial Average is about $70 per soft) In a ‘Renters Haven’ off the corner of Gates Avenue, we have a Once In A Long Time Opportunity for Easy Investment Income IN A 78 FOOT LONG BUILDING! This is a CORNER 5 FAMILY BUILDING WITH STOREFRONT…NOT Rent Controlled/NOT Rent Stabilized. FREE MARKET!! About 1,950 SQFT per floor (Building Size is 25X78). 78 FEET LONG - Location, Location, Location… a 5 Minute Walking Distance to the M/L Subway, Multiple Buses, and Anything a Renter Desires. - Surrounded by eateries and night time entertainment! - and ONLY a 5 Minute Walk to the Subway (M/L Line) Built in 1930, 17-01 Gates Avenue is a MASSIVE 15 Bedroom/ 6 Bathroom Mixed Use MultiFamily Located in the Heart of Ridgewood…Only a skip away from Bushwick. This 5 Family Home is R6B Zoning (FAR: 2), which allows the potential for 1 more floor for EVEN MORE Rental Revenue. Ridgewood is a Desirable place to call home for many of your potential renters because of the convenience to the City, the Parks, and the Shops and Eateries that run along almost all of its busy streets as well as the wave of an art scene that has been moving in. In a neighborhood where everyone walks or rides a bike, Ridgewood is a Renters Favorite Pick…did I mention that there is a 1 Car Garage for that Buyer who wants to call one of these apartments Home!!! Building Layout: First Floor: (1) 3 Bedroom BOXED unit with Lots of Natural Sunlight & (1) Storefront Floor Two: (2) 3-Bedroom BOXED Units with Eat-in Kitchens Floor Three: (2) 3-Bedroom BOXED Units with Eat-in Kitchens ROOF IS A WALK OUT AND IS IN EXCELLENT CONDITION! 1 CAR GARAGE! Other Fantastic Details that make this your next purchase : Lot: 25 × 100 Building: 25 × 78 Building Class: 5-6 Families NOT RENT CONTROLLED/ NOT RENT STABILIZED LOCATED IN A RENTERS HAVEN Tall Ceilings Taxes: $26,712.16 Total Projected Annual GROSS Rental Income: Just for Residential $255k. With Commercial $297k ! COMES WITH ONE CAR GARAGE! GREAT FOR AN END USER AS WELL AS INVESTOR.

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