6119 Madison Street Ridgewood, NY 11385

Single Family Attached MLS #: 901129 Courtesy Of ONE STOP MULTISERVICE INC

Property InformationDescription

Prime 8-Unit Rent-Stabilized Building in Ridgewood - 2 Blocks from the M train

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 .
MORTGAGE CALCULATOR

Features

  • Age: Over 50 Years Old
  • Amenities: Security System
  • Appliance: Range - Gas
  • Appliance: Refrigerator
  • Appliance: Range
  • Architecture Style: Other
  • Building Units: 8
  • Cooling System: Window Unit(s)
  • Cooling System: Multi Units
  • Cooling System: Wall/Window Unit(s)
  • Exterior Type: Brick
  • Exterior Type: Stone
  • Floor Covering: Tile
  • Floor Covering: Hardwood
  • Floor Covering: Tile - Ceramic
  • Heating System: Natural Gas
  • MLSID: 901129
  • Rooms: Basement

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6119 Madison Street, Ridgewood, NY 11385
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