$999,000
Updated 11 years ago
Sold

1115 Madison Street

Bushwick, Brooklyn | Central Ave & Evergreen Ave

9 Rooms5 Beds3 Baths2,454 Square FeetMulti-Family

$999,000
floors / apts3 / 2
Lot Size18'1"x100'
Built Size18'1"x45'
ZoneR6
Building TypeTownhouse
RE Taxes$2,136
Price Per SF
$407

This property was sold for $999,000 on 07/13/15.

Listing Features

  • Central AC
  • Central Heat

Outdoor space and views

  • Backyard

Building Amenities

  • Voice Intercom
  • Gated Entry
  • Outdoor Parking
  • Second Entry
  • Stoop Entry

Property Description for 1115 Madison Street

Excellent Investment Opportunity: 7.5% CAP RATE // This fully renovated 3-story, 2-family 18.17 X 45ft townhouse features 3 units all with separate entrances and backyard access. High ceilings, new floors and large windows give each unit an open, loft-like feel. Located in booming Bushwick one of Brooklyns most sought after neighborhoods near several train stops: Myrtle Wyckoff L/M and Gates J/Z, plus more and more bars, restaurants and cafes opening. The top two floors each have full kitchens with projected rental income of $2,500, while the garden level features a kitchenette with a projected rental income of $1,800/month. Mitsubishi spilt heating and cooling systems plus laundry hook ups. Vacant and delivered as such. Very low annual taxes.

Building Details for 1115 Madison Street

OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1905
Floors/Apts3/2
Learn More About the Building

Transit and Citi Bike

Subway

Gates Av
0.36 miles
Halsey St
0.4 miles
Knickerbocker Av
0.49 miles

Citi Bike

Central Ave & Woodbine St
0.06 miles
Madison St & Evergreen Ave
0.07 miles

Contact Agent

Contact Agent

Bushwick | Brooklyn

Quick Profile

As one of the most diverse neighborhoods in New York, Bushwick offers a perfect snapshot of just how multicultural the city is. Long-established as an amalgam of cultures and ethnicities, a wave of varying types of immigrants trickled in from the seventeenth to twentieth centuries, with Bushwick largely becoming a home to Hispanics of Puerto Rican and Dominican backgrounds by the latter part of the twentieth century. 

With the Bushwick Initiative of the mid-00s that aided in revitalization, it became an attractive area to young professionals and artists. And even now, Bushwick has sustained affordable rent prices where other North Brooklyn counterparts, like Williamsburg and Greenpoint, have become more expensive. Priding itself on the weird and the wacky, numerous art collectives thrive in this part of Brooklyn, once famously named the seventh coolest neighborhood in the world by Vogue. 

Though it has drawn in many tourists in recent years (there’s even a graffiti tour you can take from the Bushwick Collective), the neighborhood remains very much community-oriented, and has not been subject to quite the same sort of corporate infiltration phenomenon of its nearby Williamsburg environs. 

But yes, of course, Bushwick has come a very long way from its 80s and 90s reputation as being “The Well,” a nickname given to it for its free-flowing and widely available amount of drugs (quantity over quality being the cliche applied here). 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 56937TH