Seller's Agent in 2024
Louis Belisario
Revived Residential
(347) 702-3316
5 in this area
180 Total Sales
477 Fairview Ave Ridgewood, NY 11385
Ridgewood Neighborhood
7
Beds
6
Baths
--
Sq Ft
2,375
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
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
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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 Compared to Growth
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
30 Total Sales
Map
Source: Real Estate Board of New York (REBNY)
MLS Number: RLS11002881
APN: 03381-0012
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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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