593 Madison St #3, Brooklyn, NY 11221

EXP Realty have retained the exclusive to present 593 Madison Street in Stuyvesant Heights, Brooklyn for Sale. This 3 Family is located within the OPPORTUNITY ZONE. Properties that are located within the opportunity zone allows for tremendous tax benefits. Buy, hold, and sell in 10 years and basically pay none to minimal capital gains. There are 3 free market units which are all rented out. Property has been very well maintained and doesn’t require any renovations. Property consists of a 3rd floor unit which is 850sqft - 2 bedroom 1 Bath (Current rent $1,955, Mkt rent $2,500), 2nd Floor unit is 850sqft - 2 bedroom 1 Bath (Current rent $2,107, Mkt rent $2,600), the Parlor and Garden duplex combined is 1600sqft - 4 bedrooms with 2 1/2 baths, 2 kitchens along with access to the 800sqft backyard (Current rent $3,230, Mkt rent $4,000). Parlor and Garden duplex will be vacant end of February. Current Monthly $7,292 and Annual $87,504. Market Monthly $9,100 and Annual $109,200. There are 2 train stations that are about a 10 minute walk from the property, Gates Avenue (J,Z) or Utica Avenue (A,C). This part of Madison Street is a quiet residential block where the rental market is extremely strong which will continue to contribute to the property’s value appreciation. Since the new rent stabilization laws which passed on June 2019, investors have been selling their rent stabilized rental properties and are rushing to purchase free market rental properties. This trend will continue to occur for the foreseeable future which will create a sustained surge in demand for free market rental properties for the next decade. Don’t miss out on a chance to own this great investment! For more info call Rong - 917.807.4088