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$ 1,150,000
Est. payment /mo
Price Dropped by $100K
1830 Madison ST Ridgewood, NY 11385
2,726 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID KEY829092
Originating Board onekey2
Rental Info No
Year Built 1930
Annual Tax Amount $19,032
Lot Size 2,726 Sqft
Acres 0.0626
Property Description
Discover this meticulously maintained 6-family brick home in the heart of Ridgewood, Queens, a thriving and highly sought-after neighborhood bordering Brooklyn. This turnkey investment property features six thoughtfully and excellently renovated units, all fully occupied, ensuring immediate rental income.
It is an exceptional opportunity to own a rent-stabilized, income-producing 6-family brick building in the heart of Ridgewood, Queens, generating approximately $110,853 in annual rental income. This well-maintained property consists of six spacious 3-bedroom railroad-style units, all thoughtfully updated and fully occupied, ensuring consistent cash flow. Situated on a quiet, tree-lined street, this property offers a semi-finished basement, a private backyard, and close proximity to top-rated schools, diverse cultural experiences, and a vibrant local community. Conveniently located near the Forest Ave and Seneca Ave train stations, commuting to Manhattan and surrounding areas is a breeze.
Ridgewood is known for its charming historic architecture, excellent school system, and strong rental demand, making this an ideal long-term investment. Whether you're expanding your portfolio or securing a steady income-producing asset, this 6-family gem is an opportunity not to be missed!
Annual rent roll - $110,853
Expenses approximately - $38,000 between water, heat, insurance, and property taxes
Location: Ridgewood, Queens (Brooklyn Border)
Transit: Near Forest Ave & Seneca Ave Train Stations
Features: 6 Renovated Units, Basement, Backyard
Investment: Fully Occupied, Strong Rental Income
It is an exceptional opportunity to own a rent-stabilized, income-producing 6-family brick building in the heart of Ridgewood, Queens, generating approximately $110,853 in annual rental income. This well-maintained property consists of six spacious 3-bedroom railroad-style units, all thoughtfully updated and fully occupied, ensuring consistent cash flow. Situated on a quiet, tree-lined street, this property offers a semi-finished basement, a private backyard, and close proximity to top-rated schools, diverse cultural experiences, and a vibrant local community. Conveniently located near the Forest Ave and Seneca Ave train stations, commuting to Manhattan and surrounding areas is a breeze.
Ridgewood is known for its charming historic architecture, excellent school system, and strong rental demand, making this an ideal long-term investment. Whether you're expanding your portfolio or securing a steady income-producing asset, this 6-family gem is an opportunity not to be missed!
Annual rent roll - $110,853
Expenses approximately - $38,000 between water, heat, insurance, and property taxes
Location: Ridgewood, Queens (Brooklyn Border)
Transit: Near Forest Ave & Seneca Ave Train Stations
Features: 6 Renovated Units, Basement, Backyard
Investment: Fully Occupied, Strong Rental Income
Location
State NY
County Queens
Rooms
Basement Partially Finished
Interior
Heating Separate Meters
Cooling Electric, Separate Meters, Varies by Unit
Fireplace No
Exterior
Utilities Available Cable Available, Cable Connected, Electricity Connected, Natural Gas Available, Sewer Connected, Trash Collection Public, Underground Utilities, Water Available, Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
Listed by Alexiou Realty
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