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1665 Palmetto Street

Ridgewood, Queens | Saint Nicholas Ave & Cypress Ave

24 Rooms18 Beds6 Baths5,610 Square FeetMulti-Family

$1,000,000
floors / apts3 / 6
Lot Size27'x100'
Built Size27'x68'
ZoneR6B
Building TypeHouse
Price Per SF
$178

Property Description for 1665 Palmetto Street

6 Family Rent Stabilized 9.3% CAP RateActual Rent Roll, Legal Rents allow for $1k+ more monthly rent1L $2,397.121R $2,050.002L $1,764.202R $2,253.773L $1,257.613R $2,096.27Monthly Total $11,818.97Annual $141,828ANNUAL EXPENSESReal Estate Taxes $17,510Electricity $973Insurance $8,390Water / Sewer $7,995Heating $7,413Repairs & Maintenance $5,000Vacancy $4,255Total Annual $51,536Buyers must show proof of funds to tour.

Listing History for 1665 Palmetto Street

Now
10/15/2026
$1,000,000
Initial Price by Yianni Bachas
Amorelli Realty
Launch

Building Details for 1665 Palmetto Street

OwnershipMulti-Family
Building TypeHouse
AccessWalk-up
Year Built1930
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. 

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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: 109390TH