2 months on rocket

477 Fairview Ave Unit 1, New York City, NY, 11385

$2,150,000

Home List Price

$10,000*

Closing Credit

7 Bedrooms
6 Full Baths
Townhouse
Schools Nearby

Location

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477 Fairview Ave Unit 1, New York$2,150,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeTownhouse
Year Built1920
MLS #PRCH-7855009
StatusActive

About 477 Fairview Ave Unit 1

Looking for a unicorn investment property? It is not often that you’re able to find a massive legal five family building that is in excellent shape, can be delivered vacant at closing and is in a prime-time neighborhood. This building is 4,200 square feet, it is comprised of four two-bedroom railroad style apartments and one enormous true three bedroom, two bath apartment with access to the backyard. There is also a full basement, with multiple coin operated washing machines and updated mechanicals. This building is 25x56 and sits on a 25x95 lot and I zoned R6B. You are located in prime Ridgewood, just outside the landmarked district and within blocks of the L and M train. Being this is such a great location; you should never have a vacancy. The expenses are currently just under $30,000 a year and potential rent roll is close to $190,000 a year. You should end up with a 7-7.5% cap rate on this building. This could also be a great condo conversion, whether it is now or if you hold it and do it in the future. This is a perfect 1031 situation.

Property Details

Property Features

Property Information:

  • Architectural Style: Prewar
  • Year Built: 1920

Listing Office:

  • Office Name: Revived Residential
  • Office Phone: (929) 469-5800
  • Listing Agent: Louis Belisario
  • Agent Phone: (347) 702-3316

Interior Features

Bedroom and Bathroom Information:

  • Full Bathrooms: 6
  • Total Bedroom Count: 7

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,150,000

HOA Fees:

  • Amount: $0
  • Frequency: Monthly
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Housing Market Comparison

See how this home compares to others in New York, NY.

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New York, NY

City

Med. Sold Price

$845.4K

Med. Price/SqFt

$636

Avg. Days On Market

96

# of Sold Homes

1548

477 Fairview Ave Unit 1 vs New York

66 DAYS ON ROCKET

-30 Days

$2,150,000

+$1.3M More

KEY TAKEAWAY

This property is $1.3M more than the Median Sold Price in New York, NY.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: REBNY
  • MLS Number: #PRCH-7855009

Listing Office:

  • Office Name: Revived Residential
  • Office Phone: (929) 469-5800
  • Listing Agent: Louis Belisario
  • Agent Phone: (347) 702-3316

IDX ©2024 The Real Estate Board of New York, Inc., All rights reserved. Website powered by IHR Technology Services.

Listing information for certain New York City properties provided courtesy of the Real Estate Board ofNew York’s Residential Listing Service (the “RLS”). The information contained in this listing has not beenverified by the RLS and should be verified by the consumer. The listing information provided here is forthe consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property.

This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.
Last updated on: 4/29/2024, 9:25:17 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$10.7K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$6,512

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-3340640
5
/10

  • PS 71 Forest

  • 6285 Forest Ave

  • 0.31 miles

  • Public District Grades KG-5

school-card-donut-3340641
7
/10

  • Learners and Leaders

  • 378 Seneca Ave

  • 0.31 miles

  • Public District Grades PK-3

school-card-donut-3340642
3
/10

  • PS 81 Jean Paul Richter

  • 559 Cypress Ave

  • 0.37 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $48,452. The most common annual income of people living in New York, NY is between $35k-100k. The most common type of family is single, no kids. Typical level of education for residents in this area is high school diploma.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 477 Fairview Ave Unit 1

What is the listing price of this property?

The listing price of 477 Fairview Ave Unit 1 property is $2,150,000.

What type of property is this?

The property 477 Fairview Ave Unit 1 is a townhouse located in New York City, New York, 11385.

Is this property for sale now?

Active Listing: 477 Fairview Ave Unit 1 is For Sale (Active/New) which means the seller is accepting offers.

How many bedrooms and bathrooms does this property have?

The property at 477 Fairview Ave Unit 1 has 7 bedrooms and 6 bathrooms.

Which year was this property built?

The year of construction for 477 Fairview Ave Unit 1 is 1920.

Rocket Homes›New York›Queens County›New York›11385›477 Fairview Ave Unit 1

This home is located at 477 Fairview Ave Unit 1 in New York City, NY and zip code 11385 in the Ridgewood neighborhood. This home was built in 1920. Features: 7 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since February 23, 2024 and is currently priced at $2,150,000.

While more than 154 listings in New York, NY in March 2024 were sold above asking price, there were more than 645 listings sold at asking price, and more than 748 were sold below. Between February 2024 and March 2024, New York, NY real estate market has seen increase in the number of listings by 3.7%. The median list price of listings available in March 2024 was $845,489, while the average time on the real estate market was 96 days.

From Rocket Homes Real Estate and based on county public records data.

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