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61-19 Madison st, Ridgewood, NY 11385

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For Sale

$2,200,000

8 baths • 9,200 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • $239.13
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

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 Inquire with in for more Info.
MLS# 10919040

Courtesy Of ONE STOP MULTISERVICE INC

(347) 645-2004

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Exterior Type
    Brick
  • Floor Covering
    Hardwood, Tile
  • Rooms
    Basement, Kitchen
  • View Type
    City

Map and Directions

Directions to 61-19 Madison st, Ridgewood, NY 11385

Home seller CENTURY 21 Amiable Realty Group II

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Amiable Realty Group II

(718) 835-4700
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Monthly Payment Breakdown

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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