405 Madison Street is a fantastic investment opportunity. This meticulously renovated and restored, turn-key legal 4-family brownstone is located in the heart of prime Bed-Stuy on a beautiful tree-lined block.
With many original details preserved throughout, this 4 story 19 ft X 45 ft townhouse has an impressive 3240 square feet. All units have gorgeous kitchens renovated with quartz countertops, stainless steel appliances and custom cabinetry. The hardwood flooring throughout has been completely restored along with the crown molding, doors, and exposed brick walls.
Building offers new electrical, all new plumbing, and new gas risers. All windows have been replaced with new energy efficient windows. Basement and mechanicals are in pristine condition with coined washer/dryer for all tenants.
All units are fair market rentals. With a rent roll of $133,740 annually and very low expenses, 405 Madison Street is a 4.7% cap with plenty of room for upside. Each unit is separately metered for gas and electric with tenants paying their own utilities. Currently set up as a 1 bedroom with garden, 1 bedroom/1bathroom, 2 bedroom/1 bath and 2 bedroom/1 bath. Building can be delivered fully occupied or with one unit vacant if desired.
405 Madison Street is walking distance to the neighborhood's best bars and restaurants including Saraghina, Peaches, Bar L'unAtico, Beso, Eugene & Co, Casablanca, Nana Ramen & Chez Oskar. Transportation is very accessible with easy access to the A/C trains, B25/B26/B43 bus lines and the LIRR. Please reach out for a complete set up.
This information is not verified for authenticity or accuracy and is not guaranteed and may not
reflect all real estate activity in the market.
REBNY Listing Service, Inc. All rights reserved.
Courtesy of compass