Updated 2 years ago
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62-08 68th Ave
Ridgewood, Queens | 62nd Street & 64th Street
16 Rooms4 Beds4 Baths3,000 Square FeetMulti-Family
$1,465,000
floors / apts2 / 4
Lot Size25'x100'
Built Size25'x55'
ZoneR5B
Building TypeHouse
RE Taxes$9,884
Price Per SF
$488
This property was sold for $1,465,000 on 09/30/24.
Listing Features
- Original Details
Outdoor space and views
- Backyard [24'x34']
- Patio [24'x9']
Building Amenities
- Garden
Property Description for 62-08 68th Ave
Rare Ridgewood Offering for the Savvy Investor and/or End User
Lovingly maintained, and held by the same family for over 40 years, 62-08 68th Ave is ready for its legacy to be passed on. The classic ultra-wide and deep homes that line 68th avenue were built to endure through the centuries. Sitting on 25 X 100-foot lots, they comfortably accommodate the 4 units that most of these buildings house, but would make a luxurious and commodious single, or two-family townhouse as well. At nearly 3000 square feet interior and currently configured with two floor-through units per floor (4 free market apartments), plus a full 1400 sq. ft. basement with over 7' ceilings, and over 1000 sq. ft. of outdoor space, 62-08 offers a myriad of possibilities for the investor or end user. Maintain as is and collect handsome rents, update and renovate for incredibly high market rents, create an owner's duplex with a beautiful garden oasis and collect one, 2-, or 3-units worth of rental income, Or, build your single-family dream home. Additional FAR is available if expansion is desired. Special features include, 9 ft. ceilings, a large open backyard, and many original details including beautiful crown moldings, the original grand staircase and banister, and a stunning and ornate fireplace surround. This lovely home is flooded with light through 20 windows and an enormous skylight as well. The building shares a single boiler for efficient steam heating throughout, and 5 separate electric meters. All units are free market. Situated on a beautiful tree-lined, residential block in bustling Ridgewood, where trendy restaurants, breweries, coffee shops, bars, specialty shops, and boutiques abound. The Fresh Pond M train is less than 2 blocks away, Mafera Park just a few blocks down the street, and Forest Park just a little further offering multiple hiking trails and a wealth of opportunities for the outdoor enthusiast.
Investors: Cap rate with market rents is approximately 6% with tremendous upside available. With updating, projected cap rate is 8%.
First Open House Sunday May 12th by appointment. Please call or e-mail with any questions or to schedule a tour.
Listing History for 62-08 68th Ave
Now
10/02/2024
$1,465,000
Sold and Closed by Jennifer Carlson
Corcoran
06/07/2024
Contract Signed by Jennifer Carlson
Corcoran
Building Details for 62-08 68th Ave
OwnershipMulti-Family
Building TypeHouse
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts2/4
Transit and Citi Bike
Subway
Fresh Pond Rd
0.07 miles
Forest Av
0.43 miles
Citi Bike
67 Ave & Fresh Pond Rd
0.1 miles
Fresh Pond Rd & 69 Ave
0.16 miles
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: 95728TH
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