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Single Family House for Sale in Ridgewood, New York, Queens, NY 11385 | Web ID: 881667 | $1,587,500

 
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Property Description

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. Make It Short Fro Realtors One Fifth Chatgpt Said: Sure! Here's A Condensed Version Of Your Property Description—ideal For Real Estate Flyers, Mls, Or Quick Email/text Marketing: For Sale: 58-34 & 58-36 Catalpa Avenue Mixed-use Investment | Asking: $3, 175, 000 Rare Opportunity To Own Two Attached Mixed-use Buildings On One Lot In A Prime Location. Property Includes 4 Residential Units And A 2, 200 Sq Ft Commercial Space (funeral Home) With A Finished Basement. Each Building: 3 Stories + Finished Basement Residential Units: Four 3br/1ba Apartments Commercial Tenant: $6, 000/month (lease Ends Jan 2026) 3 Units Rented At $5, 550/month | 1 Unit Vacant Current Income: $11, 550/month Potential Income: Up To $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.

Property Information

Location/Town New York
Area/County Queens
Post Office/Postal City Ridgewood
Prop. Type Single Family House for Sale
Tax $8,370.00
Bedrooms 6
Total Baths 4
Full Baths 4
Year Built 1925
Basement Finished, Full, See Remarks
Construction Brick
Total Units 2
Lot Size 20' X 86.4
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, Sewer Connected
Days On Market 4
Tax Lot 9
Units 2
School District Contact Agent
Middle School Call Listing Agent
Elementary School Contact Agent
High School Contact Agent
Features Other
Listing information courtesy of: Realty Executives Today

RealtyDepotNY

Tel: 718-896-0777
Cell: 347-219-2037
Fax: 718-896-7020

 

 

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  • 103-13 Queens Blvd., Forest Hills, NY 11375
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