6015 Palmetto St, Ridgewood, NY 11385 (MLS # 11852400)

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PRICE $1,600,000 BEDS 4 BATHS 4 HOME SIZE n/a LOT SIZE 2,614 sqft Request More Info Schedule a Showing

Part of the Ridgewood Multifamily Portfolio, 60-15 Palmetto Street is located in the heart of Ridgewood, one of Queens' most desirable and rapidly evolving neighborhoods, which benefits from strong residential demand. It is within walking distance of a vibrant mix of local and national retailers. All three buildings are free-market multifamily assets with no rent-stabilization component, offering fully free-market tenancies. The portfolio presents a value-add opportunity through vacancy and renovation potential, with two vacant units and a month-to-month tenancy. This situation allows a new owner to renovate the interiors, increasing rental income and modernizing the assets. All residential units across the three buildings are separately metered for gas and electricity, significantly reducing landlord utility expenses and streamlining property management and expense recoverability, although Units 1L and 1R at 60-15 share the gas with the common-area meter. Additionally, the properties are conveniently located within walking distance to the M Train and L Train, further supported by nearby bus services, including the Q58, Q54, B13, QM24, QM25, and QM34 lines, providing easy access throughout Queens, Brooklyn, and Manhattan.