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Active Under Contract

566 ONDERDONK AVENUE

Ridgewood, NY 11385

$3.08M
5 BA · · Built 1931
The residence

Corner mixed-use building in a strong residential and retail corridor Free market, income-producing asset Fully gut-renovated building Four spacious two-bedroom apartments with hardwood floors Two established commercial spaces (daycare and restaurant) Fully finished basement featuring two offices and a private bathroom 5,625 SF building (approx) First floor is ~25'x100', second and third floor are 25'x64' Strong in-place income: $255,954.00. annual gross with upside NOI: $202,597.00. 6.59% cap rate at asking 7.06% potential cap rate Well maintained and professionally managed Stable tenant mix Commercial tenants cover 40% of property taxes + 50% of DEP Charges Surrounded by established restaurants, cafés, and neighborhood businesses Minutes to Bushwick and Williamsburg, blocks from the L and M trains. Exceptional long-term investment opportunity in one of Queens' most sought-after neighborhoods All boilers replaced within the last 5 years Plumbing systems upgraded within approximately the last 20 years Electrical systems upgraded within approximately the last 20 years Exterior masonry pointed within approximately the last 20 years Major capital improvements already completed Mechanically modernized with low deferred maintenance profile

At a glance
Property type
Status
Active Under Contract
Year built
1931
MLS#
11662546
Beds · Baths
0 · 5
Location

Ridgewood, NY.

Ridgewood, New York, is a market our advisors follow closely — its streets, housing stock and setting each shape what a residence here is worth and how it lives day to day. We are glad to walk you through the locale in detail, and how this particular address sits within it.

Estimated Monthly Payment+
$15K/mo
Approximate · principal & interest only
Display Currency
$3.08M

Indicative conversion — settlement always in USD.

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Listing courtesy of EVERGREEN REALTY & INVESTMENTS · NYSMLS

My State MLS / New York State MLS.Listing data is provided by My State MLS / New York State MLS for the personal, non-commercial use of consumers, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing or leasing. Information is deemed reliable but is not guaranteed accurate and should be independently verified.

Listings updated Apr 30, 2026

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