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$1,979,010
List Price: $1,999,000
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964 Madison Street
Townhouse in Bushwick •  building info
studio • 3,750ft² $533 per ft²
Buy with Yoreevo

$1,979,010

List Price

$1,999,000

Key Details
Days on market
32
Last price change
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Estimated payment
$11,793/mo
Taxes
$421/mo
Maintenance
N/A
Description
BIG updated 3 family building with finished basement in Bushwick, close to subway, with great income Great opportunity for both investors/owner- occupied alike: Located in the vibrant neighborhood of Bushwick, bordering Bedford-Stuyvesant, within a short walk to the Gates Subway station, and Saratoga Park. The property is surrounded by numerous bars, restaurants, cafes, art stores, gyms, pharmacies and many other amenities including a post office, and an Organic Fresh Market which recently opened juat around the corner. This BIG 18.75/50 building of about 3,750 Sq Ft, is a legal 3 family house, 3 story high, with an additional finished walk-in basement, and a nice backyard. Each of the top 2 floors contains a 3 bedroom/1.5 bathroom apartment. The first floor contains a 2 bedroom/1.5 bathroom garden apartment that has private access to the backyard and its beautiful deck. With minimal modification, combining the first floor with the walk-in basement can create an attractive 4 bedroom/2.5 bathroom duplex apartment, great for owner occupant or increasing the income. This turn of a century Townhouse retains its classic charm although been updated and in excellent shape. The building has high ceilings with Crown molding, abundant natural light throughout, and exposed brick. Each of the 3 units has 1.5 bathrooms, washer/dryer hookup, quartz countertops, solid wood white Shaker cabinetry, hardwood floors, and stainless-steel appliances including a dishwasher & over-the-stove microwave. Each apartment also has its own separate gas heat & hot water, and electric & gas meters. The walk-in basement is fully finished, and has both an interior & street access, and a second exit to the backyard. The building carries low maintenance cost with low property tax, and is very well maintained, including recently replaced hot water heater & Bosch dishwashers, keeping the wonderful long-term tenants happy, with very few turnovers. The current income from the 3 units is $9,500 a month, but easily can go up to $11,000-12,000, bringing the CAP rate from 5.79% up to 6.75%. All leases are up this summer, and the house can be delivered fully occupied or partially or fully vacant. Full co-op with all brokers!

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Home features
Dishwasher
Fireplace
Hardwood floors
Private outdoor space

Private Garden

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Garden

Building amenities
Services and facilities
Fios Available
Laundry in Building
Shared outdoor space
Courtyard
Building info

History
What it'll cost
Purchase price
$1,999,000
Asking Price: $1,999,000
Term
30 Years
Down Payment
$199,000 (10%)
Min: 10% (199,000)
Rate
6.5 %
Mortgage Amount
$1,799,100
Mortgage Payment
$11,372
Taxes
$421
Estimated Yoreevo rebate
$19,990
Estimated closing cost
$70,000
Total monthly cost $11,793
Buy your dream home with us and get an estimated $19,990 rebate.
Rebates vary by sale price, market and are subject to a minimum commission.
Listing Courtesy of Massada Home Sales Inc

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