964 Madison ST Open House Save Request In-Person Tour Request Virtual Tour
Brooklyn,NY 11221
OPEN HOUSE
Sun Apr 27, 11:00am - 1:00pm
Key Details
Property Type Townhouse
Sub Type Townhouse
Listing Status Active
Purchase Type For Sale
Square Footage 3,750 sqft
Price per Sqft $533
MLS Listing ID KEY850218
Style Colonial
Bedrooms 8
Full Baths 4
Half Baths 3
Year Built 1901
Annual Tax Amount $5,050
Lot Size 1,690 Sqft
Property Sub-Type Townhouse
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%.
Location
State NY
County Kings (brooklyn)
Interior
Heating Natural Gas
Cooling None
Flooring Hardwood
Fireplaces Number 3
Fireplaces Type Decorative
Exterior
Fence Back Yard,Fenced,Front Yard
Utilities Available Cable Available,Electricity Connected,Natural Gas Available,Natural Gas Connected,Phone Available,Sewer Connected,Trash Collection Public,Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Frame
Schools
Elementary Schools Contact Agent
Middle Schools Contact Agent
High Schools Contact Agent
School District Brooklyn 32
Others
Special Listing Condition None