31
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$1,850,000
Est. payment /mo
Active
440 Madison ST Brooklyn, NY 11221
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UPDATED:
12/04/2024 10:12 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID KEYL3544250
Originating Board onekey2
Rental Info No
Year Built 1931
Annual Tax Amount $18,921
Lot Dimensions 26x100
Property Description
Calling All Investors, Developers, & End-Users!!! 100% Occupied 7 Unit Apartment Building In Bed-Stuy For Sale!!! The Property Features Excellent Signage, Great Exposure, Strong R6B Zoning, 6 Parking Spaces, High 10' Ceilings, Skylight, Separate Meters, 200 Amp Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Bed-Stuy In Between Atlantic Ave. & Myrtle Ave.!!! The Property Is Situated Minutes From The Barclays Center, Brooklyn Museum, Brooklyn Children's Museum & Brooklyn Zoo!!! Neighbors Include UPS, The Home Depot, Dunkin', CubeSmart Self Storage, Smoothie King, Best Buy, Walgreens, AutoZone, Liberty Tax, Planet Fitness, Blink Fitness, McDonald's, Dollar Tree, Trader Joe's, Duane Reade, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Unit 1L (3 Br. Apt.): $30,000 Ann. Unit 1R (3 Br. Apt.): $30,000 Ann. Been Here A Few Years So Far. Unit 2R (3 Br. Apt.): $29,400 Ann. M-M. Unit 2L (3 Br. Apt.): $27,000 Ann. M-M. Unit 3R (3 Br. Apt.): $7,632. Ann. M-M. Been Here 10+ Years So Far. Unit 3L (3 Br. Apt.): $28,800 Ann. M-M LL (Art Studio): $13,200 Ann. M-M. Been Here 5+ Years So Far. Gross Income: $166,032 Ann. Expenses: Gas : $6,000 Ann. (Heat Only) Electric: $780 Ann. Water + Sewer: $4,290 Ann. Insurance: $2,800 Ann. Super: $3,000 Ann. Maintenance & Repairs: $2,400 Ann. Taxes: $18,920.56 Ann. Total Expenses: $38,190.56 Ann. Net Operating Income (NOI): $127,841.44 Ann (6.91 Cap!!!)
Location
State NY
County Kings (brooklyn)
Interior
Fireplace No
Exterior
Total Parking Spaces 6
Private Pool No
Building
Story 3
Others
Special Listing Condition None
Listed by All Island Estates Realty Corp
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