Yonkers, NY 10705

Property

Ownership: For Sale
Type: Unknown
Bedrooms: 13 BR
Bathrooms: 5
Lot Size: 0.0 Acres

Financials

Price:$1,499,999
Annual Taxes:$13,800
505 Park Ave, New York, NY 10022
Listing Courtesy of Compass Greater NY, LLC

Projected 8 PRO FORMA CAP RATE at list price !

Description

Projected 8% PRO-FORMA CAP RATE at list price!! Fully remodeled legal Four-Family property offering strong income potential and immediate upside. Priced to sell, this is an excellent opportunity for both investors and owner-occupants. Ideal for an investor seeking a strong addition to their portfolio / first investment property, Or a buyer looking to live in one unit while renting the other three. The building has been extensively updated providing modernized units and low-maintenance ownership. Each unit is separately metered for gas and electric, with tenants responsible for their own utilities while the landlord pays for water. Two units will be delivered vacant, offering the ability to immediately occupy or rent at current market rates, while the remaining two units are currently rented below market, create meaningful upside potential for increased income. With low property taxes and a convenient location near shops, schools, major parkways, public transportation, and easy access to NYC, this property presents a compelling opportunity for immediate cash flow and long-term investment potential. A remodeled, income-producing property ready for its next owner.

Amenities

  • Back Yard
  • Cable Connected
  • Electricity Connected
  • High ceiling
  • Level
  • Natural Gas Connected
  • Natural Woodwork
  • Near Public Transit
  • Near School
  • Near Shops
  • Open Kitchen
  • Recessed Lighting
  • Sewer Connected
  • Trash Collection Public
  • Washer/Dryer Hookup
  • Water Connected

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.