61-19 Madison St Ridgewood, NY 11385
Ridgewood NeighborhoodEstimated payment $14,306/month
Total Views
157
--
Bed
8
Baths
9,200
Sq Ft
$239
Price per Sq Ft
Highlights
- City View
- 3-minute walk to Fresh Pond Road
- Bike Room
- Property is near public transit
- Wood Flooring
- Intercom
About This Home
Introducing a rare investment opportunity in the heart of Ridgewood, Queens. This well-maintained 8-family brick building offers 9,200 sq ft of living space on a 36x100 lot, zoned R6B. Built in 1930 and substantially renovated in 2020, approximately 90% of the building has been updated with modern finishes while retaining its pre-war charm. The property consists of 1 three-bedroom unit and 7 four-bedroom units, all rent-stabilized, providing steady and reliable cash flow. Tenants are responsible for their own electric and cooking gas, while the landlord covers heat, water, and insurance. Recent upgrades include a full finished basement, updated interiors, and ongoing maintenance that ensures minimal near-term capital expenses. Situated just two blocks from the M train, the property is within walking distance to shops, dining, and essential services, making it a desirable address for tenants. the property offers both stable income and upside potential through continued rent increases in one of NYC's most desirable rental submarkets. Investment Highlights 8 residential units - mix of 1 x 3BR and 7 x 4BR Rent-Stabilized with reliable long-term tenants Gross Income: $191,364 Net Income: $141,964 90% Renovated (modernized interiors, new finishes) Low Maintenance: Professionally managed, clean, and well-kept Transit-Oriented Location: 2 blocks to M train; 30 minutes to Manhattan Upside: Strong demand in Ridgewood + potential package deal with 12 Family In Woodside with an NOI $170K inquire within for more details. Combine with both building will leave you with a total NOI $312K at $5,050,000 That will leave you at a 6% Cap Rate Inquire with in for more Info.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $27,832
Year Built
- Built in 1930 | Remodeled in 2020
Lot Details
- 3,600 Sq Ft Lot
Home Design
- Brick Exterior Construction
- Rubber Roof
Interior Spaces
- 8 Full Bathrooms
- 9,200 Sq Ft Home
- 4-Story Property
- City Views
- Finished Basement
- Basement Fills Entire Space Under The House
- Intercom
Flooring
- Wood
- Tile
Location
- Property is near public transit
- Property is near a bus stop
Utilities
- Cooling System Mounted To A Wall/Window
- Hot Water Heating System
- Heating System Uses Natural Gas
Community Details
Overview
- Low-Rise Condominium
- Flushing Community
Amenities
- Bike Room
- Community Storage Space
Security
- Security Service
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/12/2025 08/12/25 | For Sale | $2,300,000 | -- | $250 / Sq Ft |
Source: NY State MLS
About the Listing Agent
Raymond Rivera owner and founder of One Stop, your number 1 choice for a professional, responsible, and trustworthy broker, with 15 years of experience with over $100 million dollars in sales.
Raymond specializes in commercial real estate and residential sales. Including foreclosure, short sales, commercial leasing, building management. He is a licensed P&C broker, registered HUD broker, and financial planner.
His motto is “if you want the job done get it done the right way,
Raymond's Other Listings
Source: NY State MLS
MLS Number: 10919040
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