72-14 69th Place

Ridgewood, Queens | Myrtle Ave & Cooper Ave

4,700 Square FeetRental Property

$2,300,000

floors / apts3 / 6

Lot Size39'x91'

Built Size38'x57'

ZoneR5B

Building TypeLow-Rise

RE Taxes$15,576

Price Per SF

$489

Building Amenities

Voice Intercom

Property Description for 72-14 69th Place

72-14 69th Place is a 3-story rent stabilized investment property built approximately 4,700 SF in the Glendale area of Queens, New York. Comprised of six units total, five are recently updated with newly outfitted kitchens, baths, hardwood floors, plus washer/dryer in units and collect market rate rents for the area.

Currently configured into a collection of recently renovated three-bedroom and four-bedroom (3BR & 4BR) apartments, the building has been updated in 2015 with updated electric, plumbing, as well as roof. Delivered fully occupied with an actualized cap rate of 5.07% OR a net operating income (NOI) of over $116,750/yr.

Glendale is conveniently located just 15-20 mins. from both JFK & La Guardia Airports, and has subway access via the the L train at Wyckoff/Myrtle Ave stop via the Q55 bus or the M line at Fresh Pond Road. 72-14 69th Place is located on the corner of Cooper Ave, which along with Myrtle Avenue comprises the major thoroughfare for restaurants and retail business in the area that reflect this neighborhood's character and charm. Surrounded by favorites like Zum Stammtisch, Edison Place, K&A, Sweet Janes, The Monk, Glendale Bagles, and Russo Bakery, as well as local amenities such as supermarkets, pharmacies, dry cleaners, and major banks like Capitol One & Bank of America. Please inquire for full setup.

Building Details for 72-14 69th Place

OwnershipRental Property

Building TypeLow-Rise

Service LevelVoice Intercom

AgePre-War

AccessWalk-up

Year Built1931

Floors/Apts3/6

Learn More About the Building

Ridgewood | Queens

Quick Profile

Unique for being a symbolic and literal bridge between Brooklyn and Queens, Ridgewood incorporates both distinct elements of these boroughs into its persona. Originally considered part of Brooklyn, the neighborhood broke off with Bushwick in the 1700s at a point called, appropriately, Arbitration Rock. When the blackout of 1977 occurred, the residents of Ridgewood only further wanted to dissociate themselves from their Bushwick neighbors as the bedlam that ensued in between the looting and the riots made them feel just a tad superior.

And yet, just because its zip code changed didn’t mean Ridgewood could ever fully break free from its proximity and entwined identity with Bushwick. Pegged as the next “it” destination and hipster haven to move to circa 2016, Ridgewood has surprised many with its steady pace of growth, therefore well-maintained “neighborhood” feel.

Rife with quiet blocks filled with quaint, colorful buildings, Ridgewood offers the bodegas and local businesses one also expects of “old world” Brooklyn. An increase in the number of coffee shops, bars and DIY venues have continued its natural association with Bushwick, however, the deeper into the neighborhood you go, the more apparent it becomes that Ridgewood is very much its own very Queensian thing.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.

OLR ID: 72161TH

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