MultiFamily Investment Opportunity at 1717 Madison Street
$2,095,000
1717 Madison Street, Ridgewood, NY 11385
5,600 SF
Square Feet
$374
PPSF
6
Units
300.0K
PPU
5.07%
CAP
Property Description
Units
6 — PPU: 300.0K
NOI
$106,135
Cap Rate
5.07%
Fantastic investment prospect: 6 family building with only 2 rent-stabilized (RS) and 4 free-market (FM) apartments with month to month agreements. Current cap rate is 5% and with added improvement it is expected 7%. Blooming location in the heart of the trendiest Ridgewood, next to Rolo’s, Pierogi Boys, Everyone yoga and many other local favorites. Whole Foods is opening 2 blocks away.
Property Details
Asset Type
MultiFamily
Year Built
1930
Zoning
R6B
Lot Size
2,742 SF
Neighborhood
Ridgewood
Submarket
Ridgewood
ZIP
11385
Listing Type
sale
Net Operating Income (NOI)
$168,383
Debt Service Coverage Ratio (DSCR)
1.41x
Cap Rate
8.04%
Cash Flow (Annual)
$49,206
Cash-on-Cash Return
9.40%
Monthly Debt Service
$9,931
Annual Debt Service
$119,176
View on Map
Address
1717 Madison Street
Log in to see street view
Get exclusive comps and insights by logging in - it's free!
Ridgewood MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.
