Renovated Multifamily
For Sale
$1,350,000
Pending
1119 Madison Street, Brooklyn, NY 11221
Renovated interiors include an open kitchen, finished basement, private yard, and in-unit laundry.
Property Size1,812 SF
Days on Market55
Property Features for 1119 Madison Street
General Information
Standard status
Pending
Size
1,812 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,904
Amenities
private yard
security system
video surveillance
Building Details
Building Size
1,812 SF
Year Built
1905
Listing Agency:
Corcoran Group
Listed By:
Casey Weissbuch · License #10401320516 (NY)
(513) 919-7626
Source:
Howardhannanyc
Added: Aug 18
Changed: Oct 3
Last Checked: Oct 10 at 12:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Corcoran Group
Investment Insights
Based on property information with market context.
This 1,812-square-foot multifamily townhouse at 1119 Madison St features 8 rooms, 3 bedrooms, and 1.5 bathrooms. Renovated interiors include hardwood flooring, recessed lighting, oversized windows, and a contemporary kitchen with an open plan, breakfast bar or island, refrigerator, and dishwasher. The bathrooms offer updated finishes, a double-sink vanity, and a soaking tub.
A finished basement expands the usable space, while the primary bedroom includes custom storage. Central air conditioning, an in-unit washer and dryer, private yard, security system, and video surveillance add practical functionality. The property was built in 1905 and has bike, walk, and transit scores of 86, 86, and 98, respectively.
A finished basement expands the usable space, while the primary bedroom includes custom storage. Central air conditioning, an in-unit washer and dryer, private yard, security system, and video surveillance add practical functionality. The property was built in 1905 and has bike, walk, and transit scores of 86, 86, and 98, respectively.
Key Highlights
- 1,812 square feet with 8 rooms, 3 bedrooms, and 1.5 bathrooms
- Renovated kitchen with open layout, breakfast bar or island, refrigerator, and dishwasher
- Finished basement provides additional usable space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,318
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,106,360
$1.1M
Cap Rate 7%
$790,257
$790.3K
Cap Rate 9%
$614,644
$614.6K
Market Conditions
NOI Build-Up for 1,812 SF
Gross rent
$102.6K $56.64/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$100.6K $55.51/SF
− OpEx
−$45.3K −$24.98/SF
NOI
$55.3K $30.53/SF
Area
Brooklyn, NY
Vacancy
2.00%
Lease Rate
$56.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,106,360
Cap Rate 7%
$790,257
Cap Rate 9%
$614,644
Alternative Uses
Best Use
Apartment 5plus
$790.3K
$691.5K – $922.0K
NOI $55,318 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,024 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,740
Businesses Nearby
Explore this area
Business Placement
Demographics for 11221, NY
89,222
Population
38,690
Households
2.3
Avg Household Size
33
Median Age
42%
College-Educated
84%
High-School Grad
1.4 sq mi
ZIP Area
63,730
Density / Sq Mi
$85,122
Median Household Income
$49,202
Median Earnings
$2,055
Median Rent
$1,061,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Renovated interiors include an open kitchen, finished basement, private yard, and in-unit laundry.
Where is this multifamily property located?
The property is located at 1119 Madison Street Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 1,812 square feet with 8 rooms, 3 bedrooms, and 1.5 bathrooms; Renovated kitchen with open layout, breakfast bar or island, refrigerator, and dishwasher; Finished basement provides additional usable space
