Share on FacebookTweet about this on TwitterEmail this to someone
Share on FacebookTweet about this on TwitterEmail this to someone
Photo via Google Maps
Photo via Google Maps
This two-story, mixed-use medical office in Ridgewood is on the market for $1.195 million.

The recent trend of spiking real estate prices in Ridgewood shows no signs of slowing down, as this two-story, mixed-use property is on the market for just under $1.2 million.

The property located at 60-11 Catalpa Ave. has a 1,170-square-foot medical office on the first floor, and a three-bedroom, one-bathroom apartment on the second floor, and comes with a fully finished basement with a bathroom and kitchen.

It’s on the market now at nearly double the selling price when it last changed hands in September 2005, according to a report from PropertyShark. The building was sold at that time for $610,000.

Photo courtesy of Greiner-Maltz Investment Properties

Photo courtesy of Greiner-Maltz Investment Properties

The building sits on a 2,700-square-foot lot with a driveway leading to a 1,350-square-foot concrete rear yard.

Greiner-Maltz Investment Properties — the firm charged with selling the property — estimate the property could turn a big profit for the new owner, bringing in an estimated $2,700 in rent per month on the apartment portion ($32,400 a year) and an additional $2,500 in rent from the medical office ($30,000 a year).

After estimated taxes and expenses, the building could net $50,116 a year.

Comments:

Join The Discussion



Related Stories
Real estate leaders discuss maintaining mixed-use identity of Long Island City
Real estate leaders discuss maintaining mixed-use identity of Long Island City
LIC and Astoria rental prices take a dip since last year, report says
LIC and Astoria rental prices take a dip since last year, report says
Popular Stories
Photos by Robert Stridiron
Man takes a deadly fall during the morning rush at a Jackson Heights train station
Photo by Robert Stridiron
Firefighters rescue three trapped workers following a construction accident in Astoria
Photo via Shutterstock
Temporary tax hike on millionaires should fund 'rescue' of city's mass transit system: Queens lawmaker


Skip to toolbar