5834 Catalpa AVE new Save Request In-Person Tour Request Virtual Tour
Ridgewood,NY 11385
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 880094
Style Other
Bedrooms 6
Full Baths 4
Year Built 1925
Annual Tax Amount $8,370
Property Sub-Type Triplex
Property Description
For Sale: 58-34 & 58-36 Catalpa Avenue – Mixed-Use Investment Property with Strong Upside. Both Building Together priced at $3,175,000.
An excellent opportunity to acquire two mixed-use buildings situated on a single lot in a desirable location. Located at 5834 and 5836 Catalpa Avenue, this property features a total of four residential units and a commercial space currently operated as a funeral home. Each building offers three stories plus a fully finished basement, maximizing usable space and income potential.
Property Overview:
Lot includes two attached buildings
Each building has:
Three stories + full finished basement
Ground Floor & Basement: Combined commercial use (Funeral Home – approx. 2,200 sq ft)
Second Floor: Two 3-bedroom, 1-bath apartments (one per building)
Third Floor: Two additional 3-bedroom, 1-bath apartments (one per building)
Basement: Finished and utilized as part of the funeral home
Current Income:
Commercial Tenant (Funeral Home):$6,000/month Lease expires January 2026
Residential Units:Three units rented with a total of $5,550/month
One unit currently vacant
Total Current Income: $11,550/month
Potential Rental Income:
Commercial Space (Funeral Home): Estimated market rent: $8,000/month
Four 3-Bedroom Apartments: Estimated total market rent: $13,200/month
(~$3,300/month per unit)
Total Potential Income: $21,200/month
This property offers immediate income with significant upside through leasing the vacant unit and adjusting below-market rents upon turnover. Ideal for investors seeking a value-add opportunity with stable tenancy and flexible future use.
Location
State NY
County Queens
Interior
Heating Natural Gas,Other
Cooling Wall/Window Unit(s)
Exterior
Fence Back Yard
Utilities Available Electricity Available,Electricity Connected,Natural Gas Available,Natural Gas Connected,Sewer Available,Water Available
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Contact Agent
Middle Schools Call Listing Agent
Others
Special Listing Condition None