5834 Catalpa AvenueRidgewood, 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.