61-19 Madison St Ridgewood, NY 11385
Ridgewood NeighborhoodEstimated payment $13,765/month
Total Views
11,450
--
Bed
8
Baths
9,200
Sq Ft
$235
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
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 $4,877,776 That will leave you at a 6.4% 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 | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 09/23/2025 09/23/25 | Price Changed | $2,158,888 | -6.1% | $235 / Sq Ft |
| 08/12/2025 08/12/25 | For Sale | $2,300,000 | -- | $250 / Sq Ft |
Source: NY State MLS
About the Listing Agent
As a seasoned real estate professional with over 23 years of experience, I specialize in helping homeowners sell their properties quickly, efficiently, and at the best possible price. My deep understanding of the local market and extensive network of buyers and industry professionals ensures that your home gets the exposure it deserves.
Selling your home is more than just a transaction—it’s a life-changing decision. I approach every sale with a personalized strategy, taking the time to
Raymond's Other Listings
Source: NY State MLS
MLS Number: 10919040
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