NOT LISTED FOR SALE

477 Fairview Ave Ridgewood, NY 11385

Ridgewood Neighborhood
7 Beds
6 Baths
-- Sq Ft
2,375 Sq Ft Lot

Last Sold August 30, 2024

Last sale price $2,150,000

167 Days on Market

About This Home

As of August 2024

Looking for a unicorn investment property? It is not often that youre able to find a massive legal five family building that is in excellent shape, can be delivered vacant at closing and is in a prime-time neighborhood. This building is 4,200 square feet, it is comprised of four two-bedroom railroad style apartments and one enormous true three bedroom, two bath apartment with access to the backyard. There is also a full basement, with multiple coin operated washing machines and updated mechanicals. This building is 25x56 and sits on a 25x95 lot and I zoned R6B. You are located in prime Ridgewood, just outside the landmarked district and within blocks of the L and M train. Being this is such a great location; you should never have a vacancy. The expenses are currently just under $30,000 a year and potential rent roll is close to $190,000 a year. You should end up with a 7-7.5% cap rate on this building. This could also be a great condo conversion, whether it is now or if you hold it and do it in the future. This is a perfect 1031 situation.

Last Agent to Sell the Property

Louis Belisario

Revived Residential License #10301206828 Listed on: 02/21/2024

Co-Listed By

Michael Chindemi

Revived Residential License #10401353774

Townhouse Details

Home Type

  • Townhome

Est. Annual Taxes

  • $12,216

Year Built

  • Built in 1920

Lot Details

  • 2,375 Sq Ft Lot
  • Lot Dimensions are 95.00x25.00

Home Design

  • Entry on the 1st floor

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 6 Full Bathrooms

Additional Features

  • 3-Story Property
  • Cooling Available
  • Basement

Community Details

  • 5 Units
  • Ridgewood Subdivision

Listing and Financial Details

  • Legal Lot and Block 0012 / 03381

Townhouse Details

Home Type

Townhome

Est. Annual Taxes

$12,216

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property SubType: Townhouse
  • Property Type: Residential
  • Neighborhood: Ridgewood
  • Entry Level: 1
  • Structure Type: Townhouse
  • ResoPropertyType: Residential
  • Special Features: None
  • Property Sub Type: Townhouses
  • Stories: 3

Interior Features

  • Fireplace: No
  • Living Area Units: Square Feet
  • Basement: Yes
  • Basement: Other

Beds/Baths

  • Full Bathrooms: 6
  • Bathrooms Integer: 6
  • Bedrooms: 7

Exterior Features

  • View: Other
  • View: No
  • Patio/Porch Features: None

Garage/Parking

  • Garage: No

Utilities

  • Laundry Features: Building Other
  • Green Building Features: Green Building
  • Cooling: Other
  • Cooling: Yes

Condo/Co-op/Association

  • Common Interest: None

Lot Info

  • Lot Size Units: Square Feet
  • Lot Size Area: 2375.0
  • Lot Size Dimensions: 95.00x25.00

Rental Info

  • Land Lease: No

Building Info

  • New Construction: No
  • Units: 5
  • Total Stories: 3
  • Year Built: 1920

Tax Info

  • Tax Block: 03381
  • Tax Lot: 0012
  • Tax Annual: 12216.0

Multi Family

  • Building Area Units: Square Feet

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/30/2024 08/30/24 Sold $2,150,000 +14.7% --
08/30/2024 08/30/24 Price Changed $1,875,000 -12.8% --
08/06/2024 08/06/24 Pending -- -- --
02/21/2024 02/21/24 For Sale $2,150,000 -- --
Source: Real Estate Board of New York (REBNY)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Louis Belisario

    Seller's Agent in 2024

    Louis Belisario

    Revived Residential

    (347) 702-3316

    6 in this area

    197 Total Sales

    Louis Belisario
    Section Image

  • M

    Seller Co-Listing Agent in 2024

    Michael Chindemi

    Revived Residential

    (212) 913-9058

    2 in this area

    28 Total Sales

    Michael Chindemi
    Section Image
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Map

Source: Real Estate Board of New York (REBNY)

MLS Number: RLS11002881

Real Estate Board of New York (REBNY)

APN: 03381-0012

New York Queens County Ridgewood 11385 Ridgewood

477 Fairview Ave, Ridgewood, NY

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Real Estate Board of New York (REBNY) This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved.

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