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17-21 Madison St 6 Unit Apartment Building $900,000 ($150,000/Unit) 4.16% Cap Rate Ridgewood, NY 11385
Investment Highlights
- 5,600 SF 6 Family in Ridgewood
- The asset is offered at an attractive $160 per square foot, providing strong in-place cash flow at a compelling basis
- Located on a quiet residential block, the property benefits from Ridgewood’s continued demand driven by its proximity to Bushwick
- This opportunity offers investors the opportunity to acquire a fully rent-stabilized
- All six apartments are rent stabilized and have been renovated throughout the years
- 17-21 Madison Street is well suited for investors seeking defensive yield, long-term cash flow, and exposure to a proven Queens multifamily market
Executive Summary
Investment Property Realty Group (IPRG) ) has been exclusively retained to sell 17-21 Madison Street. This opportunity offers investors the opportunity to acquire a fully rent-stabilized, six-unit multifamily building in the heart of Ridgewood, Queens, one of New York City’s most consistent and supply-constrained rental markets.
The asset is offered at an attractive $160 per square foot, providing strong in-place cash flow at a compelling basis. All six apartments 100 are rent stabilized and have been renovated throughout the years, creating a durable income stream with historically low turnover and predictable operating performance. Located on a quiet residential block, the property benefits from Ridgewood’s continued demand driven by its proximity to Bushwick, expanding retail corridors, and convenient access to public transportation. The neighborhood’s long-term tenant base and limited new multifamily supply support stable occupancy and resilient collections.
17-21 Madison Street is well suited for investors seeking defensive yield, long-term cash flow, and exposure to a proven Queens multifamily market at an attractive entry point.
The asset is offered at an attractive $160 per square foot, providing strong in-place cash flow at a compelling basis. All six apartments 100 are rent stabilized and have been renovated throughout the years, creating a durable income stream with historically low turnover and predictable operating performance. Located on a quiet residential block, the property benefits from Ridgewood’s continued demand driven by its proximity to Bushwick, expanding retail corridors, and convenient access to public transportation. The neighborhood’s long-term tenant base and limited new multifamily supply support stable occupancy and resilient collections.
17-21 Madison Street is well suited for investors seeking defensive yield, long-term cash flow, and exposure to a proven Queens multifamily market at an attractive entry point.
Property Facts
| Price | $900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $150,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 4.16% | Building Size | 5,605 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1930 |
| Zoning | R6B - Medium density residential district | ||
| Price | $900,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| Cap Rate | 4.16% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,605 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1930 |
| Zoning | R6B - Medium density residential district |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 6+6 | 6 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03457-0047 | Improvements Assessment | $154,296 |
| Land Assessment | $2,900 | Total Assessment | $157,196 |
Property Taxes
Parcel Number
03457-0047
Land Assessment
$2,900
Improvements Assessment
$154,296
Total Assessment
$157,196
Contacts
-
Steve Reynolds -
Derek Bestreich -
Tom Reynolds -
Brian Davila -
Investment Property Realty Group
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