1854 Madison St
Ridgewood, NY 11385
Immeuble residentiel Propriété À vendre · 6 Unités

CBRE is pleased to present a well-maintained three-story multifamily asset located in Ridgewood, Queens. The Property consists of six residential units, including five free-market apartments and one rent-stabilized unit. Each residence offers two bedrooms, a flexible office/bonus room, ample closet space, and hard wood flooring, providing a functional and attractive layout for tenants. Each ground floor unit further benefits from private backyard/garden access, increasing their appeal and rental value.
While the building is in excellent condition, it presents a compelling value add opportunity for investors. Through targeted renovations and capital improvements, a new owner can unlock significant upside by modernizing interiors and optimizing the lower-level space—ideal for duplexing ground-floor units or creating building-wide storage. These enhancements would position the Property to achieve rents well above the current average of $2,110 per month.
Situated just 1.5 blocks from the Forest Avenue station and six blocks from Myrtle/Wyckoff Avenue station, the Property offers exceptional transit access. Residents can reach Manhattan in approximately 20 minutes and vibrant neighborhoods such as Williamsburg and Greenpoint in about 10 minutes, making this an ideal location for commuters and lifestyle seekers alike.