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For Sale: 58-34 & 58-36 Catalpa Avenue – Mixed-use Investment Property With Strong Upside. Both Building Together Priced At $3, 175, 000. An Excellent Opportunity To Acquire Two Mixed-use Buildings Situated On A Single Lot In A Desirable Location. Located At 5834 And 5836 Catalpa Avenue, This Property Features A Total Of Four Residential Units And A Commercial Space Currently Operated As A Funeral Home. Each Building Offers Three Stories Plus A Fully Finished Basement, Maximizing Usable Space And Income Potential. Property Overview: Lot Includes Two Attached Buildings Each Building Has: Three Stories + Full Finished Basement Ground Floor & Basement: Combined Commercial Use (funeral Home – Approx. 2, 200 Sq Ft) Second Floor: Two 3-bedroom, 1-bath Apartments (one Per Building) Third Floor: Two Additional 3-bedroom, 1-bath Apartments (one Per Building) Basement: Finished And Utilized As Part Of The Funeral Home Current Income: Commercial Tenant (funeral Home):$6, 000/month Lease Expires January 2026 Residential Units:three Units Rented With A Total Of $5, 550/month One Unit Currently Vacant Total Current Income: $11, 550/month Potential Rental Income: Commercial Space (funeral Home): Estimated Market Rent: $8, 000/month Four 3-bedroom Apartments: Estimated Total Market Rent: $13, 200/month (~$3, 300/month Per Unit) Total Potential Income: $21, 200/month This Property Offers Immediate Income With Significant Upside Through Leasing The Vacant Unit And Adjusting Below-market Rents Upon Turnover. Ideal For Investors Seeking A Value-add Opportunity With Stable Tenancy And Flexible Future Use.
Location/Town | New York |
Area/County | Queens |
Post Office/Postal City | Ridgewood |
Prop. Type | Single Family House for Sale |
Style | Other |
Tax | $8,370.00 |
Bedrooms | 6 |
Total Baths | 4 |
Full Baths | 4 |
Year Built | 1925 |
Basement | Finished, Full |
Construction | Brick |
Total Units | 3 |
Lot Size | 20 X 86.42 |
Lot SqFt | 1,710 |
Cooling | Wall/Window Unit(s) |
Heat Source | Natural Gas, Other |
Util Incl | Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Water Available |
Days On Market | 3 |
Tax Lot | 9 |
Units | 3 |
School District | Contact Agent |
Middle School | Call Listing Agent |
Elementary School | Contact Agent |
Features | Other |
Listing information courtesy of: Realty Executives Today |