New Listing - 04/17/2025
964 Madison Street, New York, (Brooklyn), NY, 11221
19 rooms
8 beds
4 Full / 3 Half baths
1901
Colonial
3,750 sqft
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%.
Status:
Active
Town:
New York
Type:
Townhouse
Heating:
Natural Gas
Cooling:
None
Basement:
Finished, Full
Acreage:
0.04
Est. Taxes:
$5,050
Assessment
$81,240
Construction
Frame
Utilities
Cable Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Sewer Connected, Trash Collection Public, Water Connected
Elementary School:
Contact Agent
Middle School:
Contact Agent
High School:
Contact Agent
School District:
Community District 32
Days on Market:
5
Appliances:
Dishwasher, Gas Cooktop, Gas Oven, Gas Range, Microwave, Oven, Refrigerator, Stainless Steel Appliance(s)
MLS #:
850218
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Massada Realty Inc 646-305-3780