440 Madison St
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440 Madison St
7 Unit Block of Flats £1,447,533 (£206,790/Unit) 6.91% Net Initial Yield Brooklyn, NY 11221
Investment Highlights
- Calling All Investors, Developers, & End-Users!!! 100% Occupied 7 Unit Apartment Building In Bed-Stuy For Sale!!!
- The Property Is Located In The Heart Of Bed-Stuy In Between Atlantic Ave. & Myrtle Ave.!!!
- Neighbors Include UPS, The Home Depot, Dunkin’, CubeSmart Self Storage, Smoothie King, Best Buy, Walgreens, AutoZone, Liberty Tax, Planet Fitness, ++!
- The Property Features Excellent Signage, Great Exposure, Strong R6B Zoning, 6 Parking Spaces, High 10’ Ceilings, Skylight, Separate Meters, Yard, +++!
- The Property Is Situated Minutes From The Barclays Center, Brooklyn Museum, Brooklyn Children’s Museum & Brooklyn Zoo!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers, & End-Users!!! 100% Occupied 7 Unit Building In Bed-Stuy For Sale!!! The Property Features Excellent Signage, Great Exposure, Strong R6B Zoning, 6 Parking Spaces, High 10’ Ceilings, Skylight, Separate Meters, 200 Amp Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Bed-Stuy In Between Atlantic Ave. & Myrtle Ave.!!! The Property Is Situated Minutes From The Barclays Center, Brooklyn Museum, Brooklyn Children’s Museum & Brooklyn Zoo!!! Neighbors Include UPS, The Home Depot, Dunkin’, CubeSmart Self Storage, Smoothie King, Best Buy, Walgreens, AutoZone, Liberty Tax, Planet Fitness, Blink Fitness, McDonald’s, Dollar Tree, Trader Joe’s, Duane Reade, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Unit 1L (3 Br. Apt.): $30,000 Ann.
Unit 1R (3 Br. Apt.): $30,000 Ann. Been Here A Few Years So Far.
Unit 2R (3 Br. Apt.): $29,400 Ann. M-M.
Unit 2L (3 Br. Apt.): $27,000 Ann. M-M.
Unit 3R (3 Br. Apt.): $7,632. Ann. M-M. Been Here 10+ Years So Far.
Unit 3L (3 Br. Apt.): $28,800 Ann. M-M
LL (Art Studio): $13,200 Ann. M-M. Been Here 5+ Years So Far.
Gross Income: $166,032 Ann.
Expenses:
Gas : $6,000 Ann. (Heat Only)
Electric: $780 Ann.
Water + Sewer: $4,290 Ann.
Insurance: $2,800 Ann.
Super: $3,000 Ann.
Maintenance & Repairs: $2,400 Ann.
Taxes: $18,920.56 Ann.
Total Expenses: $38,190.56 Ann.
Net Operating Income (NOI): $127,841.44 Ann. (6.91 Cap!!!)
Income:
Unit 1L (3 Br. Apt.): $30,000 Ann.
Unit 1R (3 Br. Apt.): $30,000 Ann. Been Here A Few Years So Far.
Unit 2R (3 Br. Apt.): $29,400 Ann. M-M.
Unit 2L (3 Br. Apt.): $27,000 Ann. M-M.
Unit 3R (3 Br. Apt.): $7,632. Ann. M-M. Been Here 10+ Years So Far.
Unit 3L (3 Br. Apt.): $28,800 Ann. M-M
LL (Art Studio): $13,200 Ann. M-M. Been Here 5+ Years So Far.
Gross Income: $166,032 Ann.
Expenses:
Gas : $6,000 Ann. (Heat Only)
Electric: $780 Ann.
Water + Sewer: $4,290 Ann.
Insurance: $2,800 Ann.
Super: $3,000 Ann.
Maintenance & Repairs: $2,400 Ann.
Taxes: $18,920.56 Ann.
Total Expenses: $38,190.56 Ann.
Net Operating Income (NOI): $127,841.44 Ann. (6.91 Cap!!!)
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£129,912
|
£22.82
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£129,912
|
£22.82
|
| Taxes |
£14,804
|
£2.60
|
| Operating Expenses |
£15,078
|
£2.65
|
| Total Expenses |
£29,882
|
£5.25
|
| Net Operating Income |
£100,030
|
£17.57
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £129,912 |
| Annual Per SF | £22.82 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £129,912 |
| Annual Per SF | £22.82 |
| Taxes | |
|---|---|
| Annual | £14,804 |
| Annual Per SF | £2.60 |
| Operating Expenses | |
|---|---|
| Annual | £15,078 |
| Annual Per SF | £2.65 |
| Total Expenses | |
|---|---|
| Annual | £29,882 |
| Annual Per SF | £5.25 |
| Net Operating Income | |
|---|---|
| Annual | £100,030 |
| Annual Per SF | £17.57 |
Property Facts
| Price | £1,447,533 | Building Class | C |
| Price Per Unit | £206,790 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 5,694 SF |
| Net Initial Yield | 6.91% | Average Occupancy | 100% |
| No. Units | 7 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 1931 |
| Property Subtype | Apartment | Parking Ratio | 1.05/1,000 SF |
| Apartment Style | Low Rise |
| Price | £1,447,533 |
| Price Per Unit | £206,790 |
| Sale Type | Investment |
| Net Initial Yield | 6.91% |
| No. Units | 7 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,694 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built | 1931 |
| Parking Ratio | 1.05/1,000 SF |
Unit Amenities
- Air Conditioning
- Yard
- Basement
Site Amenities
- 24 Hour Access
- Fenced Lot
- Security System
- Grill
- Gas Range
- Storage Space
- Bicycle Storage
Walk Score ®
Walker's Paradise (93)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 01826-0016 | Total Assessment | £379,848 (2024) |
| Land Assessment | £5,282 (2024) | Annual Taxes | £14,804 (£2.60/sf) |
| Improvements Assessment | £374,567 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
01826-0016
Land Assessment
£5,282 (2024)
Improvements Assessment
£374,567 (2024)
Total Assessment
£379,848 (2024)
Annual Taxes
£14,804 (£2.60/sf)
Tax Year
2023
zoning
| Zoning Code | R6B |
| R6B |
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440 Madison St
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