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$2,200,000

6119 Madison St, Ridgewood, NY

Name: 6119 Madison St, For Sale in Ridgewood - eXp Commercial Brokerage
Brand: One Stop Multi Service Inc
SKU: 901129
Price: 2200000 CAD

Real Estate

For Sale

$--,---,---

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Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage No

Maintenance Fees $672

Taxes $27,832

Days Active 30

Approx. Age 1930

MLS® Number 901129

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

Prime 8-Unit Rent-Stabilized Building in Ridgewood - 2 Blocks from the M train Introducing a rare investment opportunity in the heart of Ridgewood, Queens. This well-maintained 8-family brick building offers 9, 200 sq ft of living space on a 36x100 lot, zoned R6B. Built in 1930 and substantially renovated in 2020, approximately 90% of the building has been updated with modern finishes while retaining its pre-war charm. The property consists of 1 three-bedroom unit and 7 four-bedroom units, all rent-stabilized, providing steady and reliable cash flow. Tenants are responsible for their own electric and cooking gas, while the landlord covers heat, water, and insurance. Recent upgrades include a full finished basement, updated interiors, and ongoing maintenance that ensures minimal near-term capital expenses. Situated just two blocks from the M train, the property is within walking distance to shops, dining, and essential services, making it a desirable address for tenants. The property offers both stable income and upside potential through continued rent increases in one of NYC's most desirable rental submarkets. Investment Highlights 8 residential units - mix of 1 x 3BR and 7 x 4BR Rent-Stabilized with reliable long-term tenants Gross Income: $191, 364 Net Income: $141, 964 90% Renovated (modernized interiors, new finishes) Low Maintenance: Professionally managed, clean, and well-kept Transit-Oriented Location: 2 blocks to M train; 30 minutes to Manhattan Upside: Strong demand in Ridgewood + potential package deal with 12 Family In Woodside with an NOI $170K inquire within for more details. Combine with both building will leave you with a total NOI $312K at $5, 050, 000 That will leave you at a 6% Cap Rate .Show Description

MLS® Number901129

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1930

Stories4

Pets

Corp Number

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatNatural Gas

A/CWall/Window Unit(s)

Heating Fuel

Extras

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