964 Madison Street

Bushwick   |   Broadway & Bushwick Avenue

Building For Sale
$ 1,999,000
Ownership Multi-Family
Lot Size 18'9"x90'
Floors/Apts 3/3
Status Active
Real Estate Taxes [Per Annum] $ 5,050
Building Type Townhouse
Building Size 18'9"x50'
Year Built 1901
ASF/ASM 3,750/348
Listing ID: 100211TH

Jason Bauer

License

Manager, Licensed Associate Real Estate Broker

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Property Description

BIG updated 3 family building with finished basement in Bushwick, close to subway, with great income

Great opportunity for both investors/owner- occupied alike:
Located in the vibrant neighborhood of Bushwick, bordering Bedford-Stuyvesant, within a short walk to the Gates Subway station, and Saratoga Park. The property is surrounded by numerous bars, restaurants, cafes, art stores, gyms, pharmacies and many other amenities including a post office, and an Organic Fresh Market which recently opened juat around the corner. This BIG 18.75/50 building of about 3,750 Sq Ft, is a legal 3 family house, 3 story high, with an additional finished walk-in basement, and a nice backyard. Each of the top 2 floors contains a 3 bedroom/1.5 bathroom apartment. The first floor contains a 2 bedroom/1.5 bathroom garden apartment that has private access to the backyard and its beautiful deck. With minimal modification, combining the first floor with the walk-in basement can create an attractive 4 bedroom/2.5 bathroom duplex apartment, great for owner occupant or increasing the income. This turn of a century Townhouse retains its classic charm although been updated and in excellent shape. The building has high ceilings with Crown molding, abundant natural light throughout, and exposed brick. Each of the 3 units has 1.5 bathrooms, washer/dryer hookup, quartz countertops, solid wood white Shaker cabinetry, hardwood floors, and stainless-steel appliances including a dishwasher & over-the-stove microwave. Each apartment also has its own separate gas heat & hot water, and electric & gas meters. The walk-in basement is fully finished, and has both an interior & street access, and a second exit to the backyard. The building carries low maintenance cost with low property tax, and is very well maintained, including recently replaced hot water heater & Bosch dishwashers, keeping the wonderful long-term tenants happy, with very few turnovers. The current income from the 3 units is $9,500 a month, but easily can go up to $11,000-12,000, bringing the CAP rate from 5.79% up to 6.75%. All leases are up this summer, and the house can be delivered fully occupied or partially or fully vacant. Full co-op with all brokers!
BIG updated 3 family building with finished basement in Bushwick, close to subway, with great income

Great opportunity for both investors/owner- occupied alike:
Located in the vibrant neighborhood of Bushwick, bordering Bedford-Stuyvesant, within a short walk to the Gates Subway station, and Saratoga Park. The property is surrounded by numerous bars, restaurants, cafes, art stores, gyms, pharmacies and many other amenities including a post office, and an Organic Fresh Market which recently opened juat around the corner. This BIG 18.75/50 building of about 3,750 Sq Ft, is a legal 3 family house, 3 story high, with an additional finished walk-in basement, and a nice backyard. Each of the top 2 floors contains a 3 bedroom/1.5 bathroom apartment. The first floor contains a 2 bedroom/1.5 bathroom garden apartment that has private access to the backyard and its beautiful deck. With minimal modification, combining the first floor with the walk-in basement can create an attractive 4 bedroom/2.5 bathroom duplex apartment, great for owner occupant or increasing the income. This turn of a century Townhouse retains its classic charm although been updated and in excellent shape. The building has high ceilings with Crown molding, abundant natural light throughout, and exposed brick. Each of the 3 units has 1.5 bathrooms, washer/dryer hookup, quartz countertops, solid wood white Shaker cabinetry, hardwood floors, and stainless-steel appliances including a dishwasher & over-the-stove microwave. Each apartment also has its own separate gas heat & hot water, and electric & gas meters. The walk-in basement is fully finished, and has both an interior & street access, and a second exit to the backyard. The building carries low maintenance cost with low property tax, and is very well maintained, including recently replaced hot water heater & Bosch dishwashers, keeping the wonderful long-term tenants happy, with very few turnovers. The current income from the 3 units is $9,500 a month, but easily can go up to $11,000-12,000, bringing the CAP rate from 5.79% up to 6.75%. All leases are up this summer, and the house can be delivered fully occupied or partially or fully vacant. Full co-op with all brokers!

Listing Courtesy of Massada Home Sales Inc.

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Apartment Features

A/C
964 Madison Street Bushwick Brooklyn NY 11221

Building Details [964 Madison Street]

Ownership Multi-Family
Service Level None
Access Walk-up
Block/Lot 3366/18
Building Size 18'9"x50'
Zoning R6
Building Type Townhouse
Year Built 1901
Floors/Apts 3/3
Lot Size 18'9"x90'

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