About this home

Investor Opportunity! Legal 3-Family with Walk-Out Basement in Yonkers! Excellent opportunity to own a legal three-family property in Yonkers with strong rental income potential, recent improvements, and significant upside for investors. Featuring three spacious units, a walk-out basement with a separate entrance, a large lot, and an expansive driveway - this property offers multiple avenues to maximize immediate returns and build long-term equity. The first-floor unit offers 4 bedrooms and 1 full bathroom, while the fully renovated second-floor unit features 4 bedrooms and 2 full bathrooms. The third-floor unit includes 3 bedrooms and 1 full bathroom. The 1st floor and 3rd floor units offer value-add potential and would benefit from some TLC, allowing an investor to renovate and increase rental income. All tenants are currently month-to-month except for the second-floor tenant (leased), offering flexibility for future management and repositioning. Major improvements completed in 2024-2025 include 2nd floor renovations, cast iron pipe replacement, a new hot water heater, a new oil tank, and a new boiler. The property features four electric meters and three gas meters, along with an above-ground oil tank for heating. Projected market rents are approximately $3000+ per month for the first floor, $3,000+ for the second floor, and $2,500+ for the third floor, for a potential minimum gross rental income of $8,200 per month, or $98,400 annually. Based on stabilized operating performance just for 3 units, the property offers an estimated stabilized cap rate of 8.25%. The large lot and expansive driveway provide further possibilities, including the potential to add a parking lot for tenants. With an estimated after-repair value above $1,200,000, this property is an exceptional opportunity for investors seeking a value-add multifamily asset with strong income potential and long-term appreciation prospects in Yonkers. Bring your vision and unlock the full potential of this income-producing property!

Facts and features

Schools

• Montessori School 27

  elementary · K-6 · 0.3 mi

  8

• PEARLS Hawthorne

  elementary · K-8 · 0.3 mi

  9

• The Biondi School/Rising Ground Inc

  elementary · 1-12 · 0.3 mi

• Yonkers High School

  high · 9-12 · 0.9 mi

  7

• JUSTICE SONIA SOTOMAYOR COMMUNITY

  elementary · K-7 · 0.4 mi

  2

• Eugenio Maria De Hostos Microsociety School

  elementary · K-8 · 0.4 mi

  5

Price history

• Oct 29, 2026 · Listed$975,000

Where it is