INVESTMENT HIGHLIGHTS Three-story walk-up residential property consisting of six apartment units in prime Bushwick. Completely renovated, all units feature high ceilings, designer kitchens with stainless steel appliances, hardwood flooring, and oversized windows. Located two blocks from Broadway, five blocks from Irving Square Park, and within three blocks from the Broadway / Madison Street subway station, serviced by the J & Z lines. EXECUTIVE SUMMARY 1087 Madison Street is a three-story walk-up residential building located between Evergreen Avenue & Central Avenue in the Bushwhack neighborhood of Brooklyn, NY. The property is built 20 ft x 60 ft and features six free market apartments, sitting on a 20 ft x 100 ft lot. The building consists of (3) three one-bedroom/one-bath units, (1) one two-bedroom/one-bath units, and (2) two-bedroom duplex apartments with backyard access. All units feature high ceilings, designer kitchens, stainless steel appliances, hardwood flooring, and oversized windows. Electric split systems operate the building's heating and cooling system and electric hot water tanks for each apartment. All spaces have separate meters for electricity. For tenant convenience, there is also a laundry room in the property's basement. The total floor area is 3601 square feet. The building is ideal for 1031 exchange or for investors who want cash flow. FINANCIAL OVERVIEW Property Value $3,495,000 Average Rent $3,000 Gross Income $216,000 Property Tax $8,059 Insurance $4,000 Maintenance $1,200 Reserves $2,000 Total Expenses $15,259 Net Opp. Income $200,741 Cap Rate 6.1%
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