959 Seneca Ave

CLEAN FULLY LEASED SIX-UNIT RENT-STABILIZED BUILDING IN PRIME RIDGEWOOD

This six-unit residential building is located in prime Ridgewood and spans approximately 5,850 square feet on a 26 x 107.33 lot (2,791 sq ft). The property is fully leased with strong in-place income, with additional upside based on upcoming renewals for units 1R, 1L, 2L, and 3R. All six units are rent-stabilized and currently occupied, with an average unit size of about 975 square feet featuring a mix of three-bedroom and two-bedroom layouts. Built in 1931, the building has been updated with brand new appliances, remodeled kitchens and bathrooms, and a digital doorman system. It falls under Tax Class 2A, benefiting from capped annual tax increases, and maintains low annual property taxes of approximately $17,070. With an FAR of 3, there is an additional 2,500+ buildable square feet, and the property is conveniently located just a five-minute walk to the Myrtle–Wyckoff L and M trains. 7.01% Actual Cap Rate.