662 Madison St Brooklyn, NY 11221
- Apartment buildings
- 10,160 SF
- 0.07 lot acres
Current Use by Public Records
- Outpost Club | Stuyvesant Heights Coliving / Property Management Company
Property Details for 662 Madison St
- Year built
- 1931
- Lot size
- 0.07 lot acres
- Property size
- 10,160 SF
- Zone code
- R6B
- Property type
- Apartment buildings
- APN
- 01646-0018
- APU
- 16460018
Description
Exceptional investment opportunity in Brooklyn's Stuyvesant Heights. This 4-story, 10,160 sq ft brick building boasts eight renovated 4-5 bedroom units, each filled with natural light. Currently operating at 100% occupancy, generating a strong NOI of $342,000 and an 8.88% cap rate. Built in 1931, the property sits on a 3,117 sq ft lot and is zoned R6B. Conveniently located near the J, Z, A, and C train lines, offering easy access to Manhattan. The asking price is $3,850,000, translating to $378.94 per square foot and $481,250 per unit. This stabilized multifamily investment presents a compelling opportunity for significant returns. The building's classic charm has been thoughtfully preserved during renovations, creating a desirable living environment for tenants. This property offers a blend of historical character and modern updates, making it an attractive investment in a thriving Brooklyn neighborhood.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9317
- Latitude
- 40.6867
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
