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Six-family with four vacant apartments 6424 Madison St 6 Unit Apartment Building $1,358,000 ($226,333/Unit) 7.86% 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!
- Seller's financing
Executive Summary
******** Seller financing available ********
Two vacant dwellings on the first floor create a perfect opportunity to build duplex garden apartments*
I'm excited to offer a semi-detached brick six-family with FOUR VACANT apartments. 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.
*Verify it with your architect and attorney
Two vacant dwellings on the first floor create a perfect opportunity to build duplex garden apartments*
I'm excited to offer a semi-detached brick six-family with FOUR VACANT apartments. 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.
*Verify it with your architect and attorney
Financial Summary (Pro Forma - 2026) 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 - 2026) 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 | $1,358,000 | Property Subtype | Apartment |
| Price Per Unit | $226,333 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.86% | Lot Size | 0.07 AC |
| Sale Condition | 1031 Exchange | 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 |
| Zoning | R6B - Medium density residential district | ||
| Price | $1,358,000 |
| Price Per Unit | $226,333 |
| Sale Type | Investment |
| Cap Rate | 7.86% |
| Sale Condition | 1031 Exchange |
| 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 | $1,526 | 900 - 910 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03619-0059 | Total Assessment | $169,668 |
| Land Assessment | $2,756 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $166,912 | Tax Year | 2026 |
Property Taxes
Parcel Number
03619-0059
Land Assessment
$2,756
Improvements Assessment
$166,912
Total Assessment
$169,668
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Six-family with four vacant apartments | 6424 Madison St