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964 Madison Street
Bushwick, New York
$1,999,000 Price
- Bedrooms   - Baths
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964 Madison Street, Bushwick, New York

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...

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!

Courtesy of Massada Home Sales Inc

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

New Listing
Bushwick, New York
Type:
Price: $1,999,000
Date Listed: 4/18/2025
Web ID: 1111913077

Info & Amenities

Woodburning fireplaces: 6
Built: 1901
Pets allowed: Yes

Get to Know Bushwick

Bushwick, Brooklyn, is a dynamic and ever-evolving neighborhood known for its vibrant street art, diverse community, and creative atmosphere.

More About Bushwick

Neighborhood Guide to Bushwick

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved.

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