Yonkers, NY 10705

Property

Ownership: For Sale
Type: Multi-Family
Lot Size: 0.1 Acres

Financials

Price:$1,649,000
Annual Taxes:$8,600
505 Park Ave, New York, NY 10022
Listing Courtesy of Jason Mitchell Real Estate NY

Located in Yonkers 10705.

Description

Located in Yonkers (10705). Open to Seller Financing, turnkey/ Not Rent Stabilized or Rent Controlled (All Free Market Units) 12-unit SRO (LONG TERM TENANTS/ NOT WEEKLY), offers investors a rare opportunity to acquire both the income-producing property and the established SRO rental business. The property is fully operational and generates strong cash flow with upside potential. The building currently produces $168,000 in gross annual income with low operating expenses of approximately $35,500, resulting in a net operating income of $132,500. At the current asking price, the investment delivers an approximately 8% cap rate. In addition to the real estate, the rooming house business is included in the sale, allowing the buyer to step into a fully functioning rental operation from day one. The property also benefits from zoning in Yonkers that permits short-term rentals, providing investors the option to increase revenue through platforms such as Airbnb or other short-term rental models. A 7-car driveway parking lot is included, providing additional convenience and value for tenants and guests. This is an excellent opportunity for investors seeking stable income, strong cash flow, and future upside through short-term rental conversion or rent optimization. Owner is Licensed Real Estate Agent.

Amenities

  • Cable Connected
  • Curbs
  • Electricity Connected
  • Fire Alarm
  • Fire Sprinkler System
  • Freezer
  • Gas Water Heater
  • High Speed Internet
  • Microwave
  • Natural Gas Connected
  • Refrigerator
  • Sewer Connected
  • Sidewalks
  • Smoke Detectors
  • Stainless Steel Appliance(s)
  • Trash Collection Public
  • Video Cameras
  • 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.