• Broker Baruch Edelkopf 7189649048
  • Broker Kenneth Schuckman 5164968888

626 Madison St 4 Unit Apartment Building $2,250,000 ($562,500/Unit) Brooklyn, NY 11221

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INVESTMENT HIGHLIGHTS

  • Call or Text Baruch at (718) 964-9048 for more information today!

EXECUTIVE SUMMARY

626 Maddison St is a fully detached four-family brownstone located in Bedford Stuyvesant. The property was fully renovated in 2015 and has separate central air systems. Private porches were added for all the upper floors allowing for great open space. The building has windows on three sides and is currently laid out as one 1- bedroom and three 2-bedroom apartments, but the current layouts are not the highest and best use as each unit can easily be a three bedroom two bath unit. The building requires a light renovation including upgrading the current units with a more efficient layout with additional bedrooms and upgrading the kitchens and bathrooms.

ATTACHMENTS

626 Madison - OM 6.27.24_JR Copy[29]

FINANCIAL SUMMARY (PRO FORMA - 2022)

ANNUAL ANNUAL PER SF
Gross Rental Income $155,400 $38.09
Other Income $12,000 $2.94
Vacancy Loss - -
Effective Gross Income $167,400 $41.03
Taxes $5,149 $1.26
Operating Expenses $9,090 $2.23
Total Expenses $14,239 $3.49
Net Operating Income $153,161 $37.54

FINANCIAL SUMMARY (PRO FORMA - 2022)

Gross Rental Income
Annual $155,400
Annual Per SF $38.09
Other Income
Annual $12,000
Annual Per SF $2.94
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $167,400
Annual Per SF $41.03
Taxes
Annual $5,149
Annual Per SF $1.26
Operating Expenses
Annual $9,090
Annual Per SF $2.23
Total Expenses
Annual $14,239
Annual Per SF $3.49
Net Operating Income
Annual $153,161
Annual Per SF $37.54

PROPERTY FACTS

Price $2,250,000 Building Class C
Price Per Unit $562,500 Lot Size 0.05 AC
Sale Type Investment Building Size 4,080 SF
No. Units 4 Average Occupancy 50%
Property Type Multifamily No. Stories 4
Property Subtype
Apartment
  • Multifamily Dormitory
 Year Built/Renovated 1899/2017
Apartment Style Townhome Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price $2,250,000
Price Per Unit $562,500
Sale Type Investment
No. Units 4
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Dormitory
Apartment Style Townhome
Building Class C
Lot Size 0.05 AC
Building Size 4,080 SF
Average Occupancy 50%
No. Stories 4
Year Built/Renovated 1899/2017
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

UNIT AMENITIES

  • Balcony
  • Storage Space
  • Washer/Dryer
  • Security System
  • Ceiling Fans
  • Crown Molding
  • Hardwood Floors
  • Sprinkler System
  • Stainless Steel Appliances
  • Yard
  • Basement
  • Patio
  • Porch
  • Wheelchair Accessible (Rooms)

SITE AMENITIES

  • Fenced Lot
  • Vintage Building
  • Storage Space

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
2+1 2 $3,050 910
1+1 2 - 816 - 910
Walk Score®
Walker's Paradise (90)
Transit Score®
Rider's Paradise (97)

PROPERTY TAXES

Parcel Number 01645-0033 Total Assessment $332,640 (2024)
Land Assessment $7,200 (2024) Annual Taxes $5,149 ($1.26/SF)
Improvements Assessment $325,440 (2024) Tax Year 2022

PROPERTY TAXES

Parcel Number
01645-0033
Land Assessment
$7,200 (2024)
Improvements Assessment
$325,440 (2024)
Total Assessment
$332,640 (2024)
Annual Taxes
$5,149 ($1.26/SF)
Tax Year
2022

ZONING

Zoning Code R6B (R6 - Medium density residential district)
R6B (R6 - Medium density residential district)

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