Motivated Seller Alert! Attention investors and discerning buyers! An extraordinary opportunity awaits in the highly sought-after neighborhood of Ridgewood, NY. Introducing 16-45 Hancock St, a property with immense potential. Although currently in fair condition and requiring a full renovation, this 25x100 lot with a substantial 25 ft building frontage offers an excellent canvas for your creative vision. With R5B Zoning and the opportunity to build a brand new structure with an approximate gross floor area of 3,375 square feet or add an extension to the existing property. One of the standout features of this property is the rare inclusion of not just one, but two separate apartments, each with its own private entrance. With a potential rental income of $2500 per month for each unit, plus 5 parking spots in front of the property this presents an enticing opportunity for generating substantial cash flow or even residing in one while renting out the other. As you explore the property, you'll be thrilled to discover a finished basement that adds significant value by providing extra living space or serving as a versatile entertainment area for gatherings and leisure activities. The potential for expansion is another noteworthy aspect of this property. With its R5B zoning designation, you have the freedom to explore options for extending the existing structure, accommodating your growing needs, or maximizing the property's value. Situated in a prime location, 16-45 Hancock St offers convenient access to an array of amenities, including local shops, trendy eateries, parks, and excellent public transportation options, ensuring a vibrant and dynamic lifestyle. Unlock the untapped potential of this remarkable property by scheduling a viewing today. Whether you envision a stunning personal residence tailored to your exact specifications or a lucrative investment opportunity, this property is ready to fulfill your aspirations. Don't let this opportunity slip away--act now and embark on an exciting journey of transformation and prosperity. Note: The property's current condition, renovation requirements, lot size, building frontage, zoning regulations, rental rates, and finished basement mentioned are approximate. It is highly recommended to conduct thorough inspections, consult professionals, and review local regulations for accurate assessments and estimates.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
