Six-Unit Apartment
For Sale
$1,880,000
1856 Madison Street, Ridgewood, NY 11385
Six three-bedroom residences and a full basement are arranged in a multifamily property zoned R6B.
Property Size5,700 SF
Lot Size0.06 Acres
Price / SF$329.82
Days on Market139
Property Features for 1856 Madison Street
General Information
Standard status
Active
Size
5,700 SF
Lot size
0.06 Acres
Property subtype
Commercial
Zoning
R6B
Net Operating Income
$135,000
Units
Unit Mix
6 x 3BR
Multifamily Units
6
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$19,457
Building Details
Building Size
5,700 SF
Year Built
1930
Units
6
Listing Agency:
Sany Realty Group LLC
(718) 799-0726
Listed By:
Yan Wang
(646) 620-2250
Source:
Croninreale
Added: Jun 9
Changed: Oct 23
Last Checked: Oct 23 at 9:51AM
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 Sany Realty Group LLC
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Investment Insights
Based on property information with market context.
This 5,700-square-foot apartment building contains six three-bedroom units and a full basement. Built in 1930, the property occupies a 27.5-by-100-foot lot, with building dimensions of 27.5 by 69 feet. Three apartments are rent stabilized.
The building is at 1856 Madison Street in Ridgewood, New York. The Q58 bus stops in front, and a train station is nearby. Cafes, restaurants, shopping centers, and grocery stores are in the surrounding area, with Key Food a two-minute walk away.
The building is at 1856 Madison Street in Ridgewood, New York. The Q58 bus stops in front, and a train station is nearby. Cafes, restaurants, shopping centers, and grocery stores are in the surrounding area, with Key Food a two-minute walk away.
Key Highlights
- Six three‑bedroom apartments
- Full basement
- Three rent‑stabilized units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$139,333
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,786,660
$2.8M
Cap Rate 7%
$1,990,471
$2.0M
Cap Rate 9%
$1,548,144
$1.5M
Market Conditions
NOI Build-Up for 5,700 SF
Gross rent
$263.3K $46.20/SF
− Vacancy
−$10.0K −$1.76/SF
EGI
$253.3K $44.44/SF
− OpEx
−$114.0K −$20.00/SF
NOI
$139.3K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,786,660
Cap Rate 7%
$1,990,471
Cap Rate 9%
$1,548,144
Alternative Uses
Best Use
Apartment 5plus
$1.99M
$1.74M – $2.32M
NOI $139,333 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.20M
$3.68M – $4.90M
NOI $294,147 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,971
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Six three-bedroom residences and a full basement are arranged in a multifamily property zoned R6B.
Where is this apartment building located?
The property is located at 1856 Madison Street Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,880,000.
What are key features of this property?
This property features: Six three‑bedroom apartments; Full basement; Three rent‑stabilized units
