A six-family home on the fringes of two Ridgewood landmark districts is up for sale for $2.75 million.
The property located at 59-23 Woodbine St. sits directly across the street from Ridgewood’s Central Historic District — which terminates on the south side of Woodbine Street. It’s also a short distance from the Ridgewood North Historic District, which protects similar apartment houses in the neighborhood.
The approximately 4,772-square-foot building sits on an approximately 2,658-square-foot lot in an R5B zoning district. It’s one of the neighborhood’s many “Mathews Flats” apartment houses, which were built in the early 20th century by architect Gustave Mathews as an alternative to the cramped tenement-style apartments in Manhattan.
According to Greiner-Maltz Investment Properties, who is in charge of selling the property, the entire building was gut renovated and has separate boiler and hot water tanks for each of the six units, as well as a common laundry area with a gym/recreational space on the lower level.
The real estate firm estimates that the six units and laundry room can fetch the new owner an estimated $193,524 in annual rent, and after estimated expenses, the owner could come away with $173,420 in annual net income.
For more information about the property, visit the Greiner-Maltz website.