1823 Bleecker Street

This semi-attached six-unit property in Ridgewood offers approximately 1,400 square feet of unused air rights, strong rental income, and abundant natural light and airflow. The building includes a balanced mix of three free-market units and three rent-stabilized units. Each apartment features one bedroom and one bathroom with hardwood floors throughout, and several units have been fully renovated to include dishwashers and in-unit washers and dryers.

The three-story building encompasses 3,600 square feet with dimensions of 20 by 60 feet and sits on a 2,500-square-foot lot measuring 25 by 100 feet. It generates an approximate gross annual income of $168,240 and delivers an actual cap rate of 6.74%. Ideally located within walking distance of the M train at Seneca Avenue and the L train at Dekalb Avenue, this property presents a compelling investment opportunity in prime Ridgewood, featuring a high rent roll, valuable air rights, and 50% free-market units.