Seller's Agent in 2024
Louis Belisario
Revived Residential
(347) 702-3316
5 in this area
176 Total Sales
477 Fairview Ave Ridgewood, NY 11385
Ridgewood Neighborhood
7
Beds
6
Baths
--
Sq Ft
2,178
Sq Ft Lot
About This Home
As of August 2024Looking 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
Revived Residential License #10301206828 Listed on: 02/21/2024
Last Buyer's Agent
Direct Deal Listing
Direct Deal License #A
Property Details
Home Type
- Multi-Family
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
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Home Values in the Area
Average Home Value in this Area
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
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $13,194 | $105,600 | $12,400 | $93,200 |
| 2024 | $13,194 | $105,537 | $13,922 | $91,615 |
| 2023 | $12,222 | $97,759 | $13,469 | $84,290 |
| 2022 | $11,078 | $303,750 | $41,850 | $261,900 |
| 2021 | $10,735 | $264,150 | $41,850 | $222,300 |
| 2020 | $10,132 | $289,350 | $41,850 | $247,500 |
| 2019 | $10,239 | $253,800 | $41,850 | $211,950 |
| 2018 | $9,565 | $75,199 | $14,880 | $60,319 |
| 2017 | $8,858 | $69,646 | $14,458 | $55,188 |
| 2016 | $8,679 | $69,646 | $14,458 | $55,188 |
| 2015 | $5,397 | $62,485 | $15,877 | $46,608 |
| 2014 | $5,397 | $62,448 | $16,641 | $45,807 |
Source: Public Records
Agents Affiliated with this Home
-
Louis Belisario
-
Michael Chindemi
M
Seller Co-Listing Agent in 2024
Michael Chindemi
Revived Residential
(212) 913-9058
2 in this area
31 Total Sales
-
D
Buyer's Agent in 2024
Direct Deal Listing
Direct Deal
Map
Source: Real Estate Board of New York (REBNY)
MLS Number: RLS11002881
APN: 03381-0012
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.
RLS Data display by Homes.com LLC
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