Yonkers Four-Family Investment
For Sale
$1,230,000
94 Elliott Ave, Yonkers, NY 10705
Well-maintained four-family property in Yonkers with income potential.
Property Size3,408 SF
Lot Size0.04 Acres
Days on Market143
Property Features for 94 Elliott Ave
General Information
Standard status
Active
Size
3,408 SF
Lot size
0.04 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$17,200
Building Details
Building Size
3,408 SF
Year Built
1974
Units
4
Listing Agency:
ICONIC PROS
(845) 519-5070
Listed By:
Rupinder Singh · License #10401279799
(845) 519-5070
Source:
Elliman
Added: Mar 31
Changed: Aug 8
Last Checked: Aug 20 at 7:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ICONIC PROS
Investment Insights
Based on property information with market context.
This four-family property in Yonkers presents an investment opportunity. The building features four residential units, all currently occupied on a month-to-month basis. Tenants are responsible for all utilities except heat, with annual heating costs approximately $12,000. Interior features include hardwood flooring, granite countertops, dishwashers, windowed bathrooms, dedicated dining areas, basement laundry access, and a shared backyard space. The property is conveniently located near major roadways and public transportation, providing easy access to New York City and surrounding areas. It is situated close to shopping centers, restaurants, schools, and everyday essentials, as well as nearby recreational options such as Tibbetts Brook Park. This location offers a rental market with consistent demand, making it an opportunity for investors seeking a stable, income-producing asset.
Key Highlights
- Strong income potential as a four‑family property in a high‑demand rental market.
- Convenient location near major roadways, public transportation, shopping, restaurants, and schools, providing easy access to New York City.
- Month‑to‑month leases offer flexibility for rent increases or repositioning.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$82,466
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,649,320
$1.6M
Cap Rate 7%
$1,178,086
$1.2M
Cap Rate 9%
$916,289
$916.3K
Market Conditions
NOI Build-Up for 3,408 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$128.8K $37.80/SF
− Vacancy
−$11.0K −$3.23/SF
EGI
$117.8K $34.57/SF
− OpEx
−$35.3K −$10.37/SF
NOI
$82.5K $24.20/SF
Area
Yonkers, NY
Vacancy
8.55%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,649,320
Cap Rate 7%
$1,178,086
Cap Rate 9%
$916,289
Alternative Uses
Best Use
Multifamily LT 5
$1.18M
$1.03M – $1.37M
NOI $82,466 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$1.08M
$946.7K – $1.26M
NOI $75,733 @ 7.0% cap · market cap 6.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,746
Businesses Nearby
Explore this area
Business Placement
Demographics for 10705, NY
41,785
Population
15,620
Households
2.7
Avg Household Size
36
Median Age
30%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
18,993
Density / Sq Mi
$68,616
Median Household Income
$40,717
Median Earnings
$1,602
Median Rent
$445,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-family property in Yonkers with income potential.
Where is this quadplex located?
The property is located at 94 Elliott Ave Yonkers, NY.
What is the asking price?
The asking price for this property is $1,230,000.
What are key features of this property?
This property features: Strong income potential as a four‑family property in a high‑demand rental market.; Convenient location near major roadways, public transportation, shopping, restaurants, and schools, providing easy access to New York City.; Month‑to‑month leases offer flexibility for rent increases or repositioning.
