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111 Beech Street

Yonkers, NY 10701
  • $950,000
  • STATUS: Active
  • ON SITE: 70 Days
  • MLS #: L3581521
UPDATED: 54 min ago
$950,000
  • 0
    BEDS
  • 0.05
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1905
Area:

School Ratings & Info

Description

Investment Opportunity with Stable Income and Upside Potential This well-maintained mixed-use property in Yonkers, New York, offers a unique opportunity for an investor seeking both residential and commercial income streams. The property consists of two spacious three-bedroom apartments and a ground-floor deli, along with a leased garage. It is located in a desirable area with strong demand from both residential and commercial tenants. Property Breakdown: Residential Units: Second Floor: Section 8 program tenant paying $2,002 per month, providing guaranteed rental income. Third Floor: Month-to-month tenant paying $1,950 per month, allowing flexibility for future rental increases or repositioning. Commercial Unit (Ground-Floor Deli): Commercial tenant paying $3,600 per month with eight years remaining on a 10-year lease. The lease includes a 6% annual rent increase, ensuring growing income. This tenant provides a reliable income stream with long-term stability. Garage: Leased at $1,210 per month, adding an additional revenue source to the property. Financial Overview: Total Monthly Gross Income: $8,762 Total Annual Gross Income: $105,144 Expenses: Taxes: $11,028.66 annually Heating and Electric Bills: $12,000 annually Water Expenses: $1,200 annually Recent Improvements: The roof was replaced in 2024 and is insured for 15 years, reducing future capital expenditures. Net Operating Income (NOI): With total annual expenses of $24,228.66, the property generates a net operating income (NOI) of approximately $80,915.34. Summary: This Yonkers mixed-use property presents a balanced combination of residential and commercial tenants, guaranteed income from a Section 8 lease, and a long-term commercial tenant with built-in rent escalations. With minimal deferred maintenance due to recent roof work and manageable expenses, this asset is positioned to provide solid returns and potential upside through rental increases. For investors seeking a well-located property with diverse income streams, this is a compelling opportunity to add a high-performing asset to your portfolio., Additional information: Business Located At:111 beech st,vac perc:0

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© 2024 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or McAteer & Will Estates | Keller Williams Real Estate. Data last updated: 2024-12-06T14:19:08.503.
www.mwestates.com/homes/155871668
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111 Beech Street Yonkers, NY 10701

  • Price: $950,000
  • Status: Active
  • On Site: 70 Days
  • Updated: 54 min ago
  • MLS #: L3581521
0
Beds
0
Baths
0
½ Baths
0.05
Acres
1905
Built
Neighborhood:
Yonkers
County:
Westchester County
Area:
Yonkers
Property Description
Investment Opportunity with Stable Income and Upside Potential This well-maintained mixed-use property in Yonkers, New York, offers a unique opportunity for an investor seeking both residential and commercial income streams. The property consists of two spacious three-bedroom apartments and a ground-floor deli, along with a leased garage. It is located in a desirable area with strong demand from both residential and commercial tenants. Property Breakdown: Residential Units: Second Floor: Section 8 program tenant paying $2,002 per month, providing guaranteed rental income. Third Floor: Month-to-month tenant paying $1,950 per month, allowing flexibility for future rental increases or repositioning. Commercial Unit (Ground-Floor Deli): Commercial tenant paying $3,600 per month with eight years remaining on a 10-year lease. The lease includes a 6% annual rent increase, ensuring growing income. This tenant provides a reliable income stream with long-term stability. Garage: Leased at $1,210 per month, adding an additional revenue source to the property. Financial Overview: Total Monthly Gross Income: $8,762 Total Annual Gross Income: $105,144 Expenses: Taxes: $11,028.66 annually Heating and Electric Bills: $12,000 annually Water Expenses: $1,200 annually Recent Improvements: The roof was replaced in 2024 and is insured for 15 years, reducing future capital expenditures. Net Operating Income (NOI): With total annual expenses of $24,228.66, the property generates a net operating income (NOI) of approximately $80,915.34. Summary: This Yonkers mixed-use property presents a balanced combination of residential and commercial tenants, guaranteed income from a Section 8 lease, and a long-term commercial tenant with built-in rent escalations. With minimal deferred maintenance due to recent roof work and manageable expenses, this asset is positioned to provide solid returns and potential upside through rental increases. For investors seeking a well-located property with diverse income streams, this is a compelling opportunity to add a high-performing asset to your portfolio., Additional information: Business Located At:111 beech st,vac perc:0
Exterior Features

Cross Street Poplar St Parking Total 2 Pool Private YN No

Interior Features

Basement YN No Num Of1 Bed Rooms 0 Num Of2 Bed Rooms 0 Num Of3 Bed Rooms 0 Num Of4 Bed Rooms 0

Property Features

Additional Fees 0.00 Additional Fees YN No Additional Parcel YN No Association YN No Building Area Total 3500 Business Type Deli/Catering Gross Income 105144 Lease Expiration 2032-09-21 Lot Size Area 2178 Lot Size Dimensions 25x100 Net Operating Income 80915 Permitted Uses Food ServicesResidentialRetail Property Sub Type Mixed Use Seasonal YN No Spa YN No Tax Annual Amount 11028 Zoning M - Apts M

Listing courtesy of Carlos Delgado of Keller Williams Landmark II: 347-846-1200
© 2024 OneKey MLS. All rights reserved.


© 2024 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or McAteer & Will Estates | Keller Williams Real Estate. Data last updated: 2024-12-06T14:19:08.503.
 
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