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About the Listing EXPRLT - 54341
Rare Mixed-Use Opportunity in Prime Ridgewood Location! Welcome to 69-38 Myrtle ave- a high exposure property offering exceptional versatility, income potential, and Value-add upside. Feauturing a total of 2,024 sq ft on a 23' x 88' lot, this mixed-use asset includes a ground floor commercial space with entrances on myrtle ave and Cooper st, plus two residential units above: A vacant 4 bedroom and a 3 bedroom Unit Currently occupied by cash tenants. The Commercial space ( currently rented at $3,500/ Month) is on a month to month basis and can be delivered vacant. it offers the option to split into two seperate store fronts, unlocking additional income potential. utilities are seperately metered: 3 Meters for commercial and 2 for residential - tenants pay their own utilities. Projected pro forma gross income of $146,700/year, with estimated expenses of $13,500/year, brings a potential net income of $133,200, yielding a 7% Cap rate at full market rents. Perfect for investors seeking upside or end-users looking to occupy and operate. Close to transit, retail, and Neighborhood amenities- this is a can't miss opportunity in on of queens' most desirable mixed-use corridors.
Listing Highlights for 69-38 Myrtle Ave
Interior Details
- Bedrooms: 0
- Bathrooms: Full
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished
- Other:
- Water: Public
Exterior Details
- Lot Description: No Waterfront
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer: Public Sewer
Financial Details
- Tax Amount: $9,000
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
69-38 Myrtle Ave Glendale, NY 11385
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