5836 Catalpa Avenue

Ridgewood, NY 11385

For Sale: 58-34 & 58-36 Catalpa Avenue – Mixed-Use Investment Property with Strong Upside. Both Building Together priced at $3,175,000. An excellent opportunity to acquire two mixed-use buildings situated on a single lot in a desirable location. Located at 5834 and 5836 Catalpa Avenue, this property features a total of four residential units and a commercial space currently operated as a funeral home. Each building offers three stories plus a fully finished basement, maximizing usable space and income potential. Property Overview: Lot includes two attached buildings Each building has: Three stories + full finished basement Ground Floor & Basement: Combined commercial use (Funeral Home – approx. 2,200 sq ft) Second Floor: Two 3-bedroom, 1-bath apartments (one per building) Third Floor: Two additional 3-bedroom, 1-bath apartments (one per building) Basement: Finished and utilized as part of the funeral home Current Income: Commercial Tenant (Funeral Home):$6,000/month Lease expires January 2026 Residential Units:Three units rented with a total of $5,550/month One unit currently vacant Total Current Income: $11,550/month Potential Rental Income: Commercial Space (Funeral Home): Estimated market rent: $8,000/month Four 3-Bedroom Apartments: Estimated total market rent: $13,200/month (~$3,300/month per unit) Total Potential Income: $21,200/month This property offers immediate income with significant upside through leasing the vacant unit and adjusting below-market rents upon turnover. Ideal for investors seeking a value-add opportunity with stable tenancy and flexible future use. make it short fro realtors one fifth ChatGPT said: Sure! Here's a condensed version of your property description—ideal for real estate flyers, MLS, or quick email/text marketing: For Sale: 58-34 & 58-36 Catalpa Avenue Mixed-Use Investment | Asking: $3,175,000 Rare opportunity to own two attached mixed-use buildings on one lot in a prime location. Property includes 4 residential units and a 2,200 sq ft commercial space (funeral home) with a finished basement. Each building: 3 stories + finished basement Residential Units: Four 3BR/1BA apartments Commercial Tenant: $6,000/month (lease ends Jan 2026) 3 units rented at $5,550/month | 1 unit vacant Current Income: $11,550/month Potential Income: Up to $21,200/month This property offers immediate income with significant upside through leasing the vacant unit and adjusting below-market rents upon turnover. Ideal for investors seeking a value-add opportunity with stable tenancy and flexible future use.

Listing courtesy of Realty Executives Today info@ikrealtyteam.com


Based on information submitted to the MLS GRID as of 2025-06-25 05:45 AM EDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.