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Six-family with four vacant apartments 6424 Madison St 6 Unit Apartment Building $1,590,000 ($265,000/Unit) 7.87% Cap Rate Ridgewood, NY 11385
Investment Highlights
- Legal 6-family with 4 vacant apartments!
- Call LA Peter Nowik 347-927-6829
- Three blocks to Fresh Pond Rd M-train station!
Executive Summary
I'm excited to offer a semi-detached brick six-family with FOUR VACANT apartments on a large 32' x 100' lot. Filled with the sunlight! Located on a quiet cul-de-sac street, three blocks from the Fresh Pond Rd M-train station. Next to Valentino Food Market. You have many restaurants, stores, and cafes nearby (such as The Spot, Gyro World, Zabka Deli, E-Chiban Sushi, Corato Pizza, Otra Casita Mexicana, Antica Trattoria, Mon Cheri, etc.)—an excellent opportunity for end users and investors.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,590,000 | Apartment Style | Low-Rise |
| Price Per Unit | $265,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 7.87% | Building Size | 5,814 SF |
| Gross Rent Multiplier | 9.78 | Average Occupancy | 30% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | ||
| Zoning | R6B - Medium density residential district | ||
| Price | $1,590,000 |
| Price Per Unit | $265,000 |
| Sale Type | Investment |
| Cap Rate | 7.87% |
| Gross Rent Multiplier | 9.78 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 5,814 SF |
| Average Occupancy | 30% |
| No. Stories | 3 |
| Year Built | 1930 |
| Zoning | R6B - Medium density residential district |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Recycling
- Smoke Free
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (85)
Property Taxes
| Parcel Number | 03619-0059 | Total Assessment | $164,359 |
| Land Assessment | $2,777 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $161,582 | Tax Year | 2025 |
Property Taxes
Parcel Number
03619-0059
Land Assessment
$2,777
Improvements Assessment
$161,582
Total Assessment
$164,359
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Six-family with four vacant apartments | 6424 Madison St
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