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$ 2,175,000
Est. payment /mo
Price Dropped by $25K
552 Grandview Ave Ridgewood, NY 11385
5 Beds
2.5 Baths
2,375 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 11694223
Bedrooms 5
Full Baths 2
Half Baths 1
Year Built 1930
Annual Tax Amount $7,693
Tax Year 2025
Lot Size 2,375 Sqft
Property Description
This Mixed-use investment opportunity is located in the heart of Ridgewood. This well-maintained property features a spacious ground-floor commercial unit currently operating as a neighborhood bar, complete with a large main area, pool table section, and a separate rear room with stage-ideal for live music, private events, and gatherings. The commercial rent is $6,523 per month and increases 3% on each April 1. The lease ends on 3/31/2031. Under that lease, that tenant pays 77% of property taxes, 61% of the water charges and its heat expenses. Above the commercial space on the 2nd floor are two residential apartments providing strong rental income. Apt. 2A features an eat-in kitchen, living room, 2 bedrooms and full bath, currently rented for $2,400/month with lease expiring 8/31. Apt. 2B Will be Vacant on Title and consists of an Eik, Lr, 3 bedrooms and 1 Full bathroom, market rent is $3,800 per month. Both tenants pay their own heat, minimizing owner expenses. Also featuring a full basement, & gas heat. Located in the vibrant Ridgewood section of Queens, known for its blend of residential charm and thriving local businesses, this property offers excellent foot traffic and long-term upside. Convenient access to shopping, dining, and public transportation makes this an attractive option for both commercial and residential tenants. Ideal for investors or owner-users seeking a solid income-producing property in a prime and growing neighborhood.
Location
State NY
County 36081
Rooms
Basement Full
Dining Room 0
Kitchen Eat-In
Building
Story 2
Sewer Municipal
Water Municipal
Structure Type Frame
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