Description

Welcome to 62-10 68th Avenue, a four-family property in the heart of Ridgewood, offering an exceptional opportunity for both investors and end users. This two-story property features approximately 3,000 square feet of above-grade living space, an additional 800 square feet of basement space, and four spacious two-bedroom, one-bathroom residences, situated on a 25' x 55' x 100' lot.

Three of the apartments have been gut-renovated with modern finishes, featuring hardwood floors, abundant natural light, stylish kitchens with custom cabinetry and stainless steel appliances, contemporary bathrooms, fitted bedroom closets, and washer/dryer hookups. Select residences also offer private outdoor space, including a backyard and rear deck. The basement provides additional storage, dedicated apartment storage areas, bicycle storage, and utility space.

Significant capital improvements have been completed throughout the property, including a new roof in 2020, replacement windows in 2023, a new boiler, four new electric hot water heaters, and upgraded electrical systems throughout. These improvements, combined with the renovated interiors, make this a compelling turnkey investment opportunity.

With three apartments currently generating $9,150 in monthly rental income, the property offers immediate cash flow and significant upside potential. The fourth apartment is currently vacant, providing the flexibility for a buyer to occupy the residence while collecting rental income from the other units, or lease it out as an additional income-producing apartment. Another apartment is expected to become vacant at the end of November 2026, offering further flexibility.

Current Unit Breakdown

Unit 1L | 2 Bedrooms, 1 Bathroom: Tenant occupied | $3,150/month | Expected vacancy at the end of November 2026

Unit 1R | 2 Bedrooms, 1 Bathroom: Vacant | Projected rental income of $4,500/month*

Unit 2L | 2 Bedrooms, 1 Bathroom: Tenant occupied | $3,000/month

Unit 2R | 2 Bedrooms, 1 Bathroom: Tenant occupied | $3,000/month

Ideally situated in one of Queens' most vibrant neighborhoods, 62-10 68th Avenue is surrounded by Ridgewood's thriving collection of restaurants, independent coffee shops, boutiques, and local conveniences. Known for its charming tree-lined streets, historic architecture, and dynamic dining and arts scene, Ridgewood offers an appealing blend of neighborhood character and urban convenience. Nearby Myrtle Avenue provides an abundance of shopping and dining options, while Grover Cleveland Park and Highland Park offer green spaces and recreational amenities. The Fresh Pond Road M train station is approximately one block away, providing convenient access to Brooklyn and Manhattan.

Whether you're seeking an income-producing investment or a primary residence with the added benefit of rental income, 62-10 68th Avenue presents a compelling opportunity to acquire an upgraded four-family property in a highly desirable Queens neighborhood. Listing courtesy of Compass ...
More