1381 madison street - amazon web services · 2019. 7. 17. · 1381 madison street bushwick,...

1381 MADISON STREET BUSHWICK, BROOKLYN, NY

DJ JohnstonPartner, Senior Managing Director(646) [email protected]

Bryan KirkDirector(646) [email protected]

William ChengDirector(646) [email protected]

Michael MurphyAssociate(646) 933-2639 [email protected]

For further information, please contact exclusive agents:

B6 Copyright 2018. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make norepresentation as to the condition of the property (or properties) in question.

B6 REAL ESTATE ADVISORS1040 Avenue of the Americas, 8th Floor, New York, NY 10018

B6RealEstateAdvisors.com

FOR SALE

Asking Price

$3,400,000

FOR SALEGUT RENOVATED

1381 Madison StreetBushwick, Brooklyn, NY

Walkup Multifamily | 4,350 SF + Duplex | 6 Residential Units

B6 Real Estate Advisors has been retained on an exclusive basis to arrange

for the sale of 1381 Madison Street, a turn key fully renovated walk-up

building in the Bushwick neighborhood of Brooklyn.

• 1381 Madison Street is a 25’ x 58’ six family, consisting of 4,350 SF across

three stories.

• The property underwent a full renovation of all units, common areas,

mechanicals, and roof, offering an easy to manage investment.

• Building benefits from laundry room for all in basement, and individual

central air conditioning and heat for each unit.

• The property also benefits from close proximity to many of Bushwick’s

already flourishing art galleries, night life, and dining options.

• Public transportation is available with ----- trains within four blocks,

providing convenient access to Williamsburg and Manhattan.

ML

100% FREE MARKET

Gross Annual Income $211,800

Vacancy & Credit Loss @ 3% $6,354

Effective Gross Income $205,446

Less Total Expenses $32,353

Projected Net Operating Income $173,093

Building Features

LocationNorthwest side of Madison Street betweenRidgewood Place and Irving Avenue.

Block & Lot 3362 / 32

Lot Dimension 25' x 80'

Lot SF 2,000

Building Dimensions 25' x 58'

Stories 3 + Duplex

Gross Building SF 4,350 SF + Duplex

Units 6

Zoning / FAR R6 / 2.2

Buildable SF 4,400

Assessment ('18/'19) $90,172 Tax Class 2A

R.E. Taxes ('18/'19) $11,372

Information presented herein is subject to change and should be individually verified All measurements and square footage estimates are approximate









Estimated Expenses B6 Metrics

Real Estate Taxes (18/19) NYC DOF Tax Bill $11,372

Insurance $400 / Unit $2,400

Water & Sewer $0.75 / GSF $3,888

Heating Fuel $1.50 / GSF --

Electric (Common) $0.15 / GSF $778

Repairs & Maintenance $500 / Unit $3,000

Superintendent $250 / Month $3,000

Management 4.0% of EGI $7,915

Total Exp. Ratio: 21% $32,353

1381 Madison StreetBushwick, Brooklyn, NY

L

1381 Madison Street

Gross Annual Income $211,800

Vacancy & Credit Loss @ 3% $6,354


Revenue

Unit Type Lease Exp. NSF $ / SF Rent Annual

Apt. 1L 3 BR - Duplex 7/31/2019 640 $65 $3,450 $41,400

Apt. 1R 3 BR - Duplex 8/31/2019 640 $68 $3,650 $43,800

Apt. 2L 3 BR 8/31/2019 640 $48 $2,550 $30,600

Apt. 2R 3 BR 8/31/2019 640 $51 $2,700 $32,400

Apt. 3L 3 BR 10/31/2019 640 $50 $2,650 $31,800

Apt. 3R 3 BR 9/30/2019 640 $50 $2,650 $31,800

3,840 $55 $17,650 $211,800


Less Total Expenses $32,353

Projected Net Operating Income $173,093

M

1381 madison street - amazon web services · 2019. 7. 17. · 1381 madison street bushwick,...

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