Renovated Four-Unit Residential
For Sale
$980,000
Pending
643 Warburton Ave, Yonkers, NY 10701
Four gut-renovated one-bedroom units with updated kitchens, utilities, and off-street parking in Yonkers.
Property Size2,992 SF
Days on Market95
Property Features for 643 Warburton Ave
General Information
Standard status
Pending
Size
2,992 SF
Total Parking Spaces
5
Property subtype
Investment
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$14,988
Building Details
Building Size
2,992 SF
Year Built
1925
Units
4
Tenancy
Multi
Listed By:
Manuel Nieves
(646) 703-1062
Source:
Elliman
Added: Jun 3
Changed: Aug 22
Last Checked: Sep 4 at 1:10PM
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 Manuel Nieves
Investment Insights
Based on property information with market context.
643 Warburton Ave is a charming four-unit investment property featuring original 1925 stained glass windows on both floors and original (non-working) fireplaces in the first-floor units. Each of the four one-bedroom apartments was gut renovated, with granite kitchen countertops and new appliances, along with plumbing and electrical upgrades. New windows were installed throughout the building. The property was converted from oil to gas with tankless boilers, and it includes a separate zone for each tenant. Above the second floor apartments, there is a large attic space with a wide, full-height staircase for access.
The building is centrally located in Yonkers and offers a beautiful view of the Hudson River. The area provides nearby access to a train station and bus stop, supported by a walkScore of 72 (Very Walkable) and a transitScore of 57 (Good Transit).
This layout can fit a variety of residential income objectives, offering four independently zoned units and practical onsite parking. There are two garages and off-street tenant parking in the rear of the building, with five parking spaces available for tenants.
The building is centrally located in Yonkers and offers a beautiful view of the Hudson River. The area provides nearby access to a train station and bus stop, supported by a walkScore of 72 (Very Walkable) and a transitScore of 57 (Good Transit).
This layout can fit a variety of residential income objectives, offering four independently zoned units and practical onsite parking. There are two garages and off-street tenant parking in the rear of the building, with five parking spaces available for tenants.
Key Highlights
- Four one‑bedroom units in a 1925 building, centrally located in Yonkers with a Hudson River view.
- All four units were gut renovated and feature granite kitchen countertops and new appliances.
- Plumbing and electrical upgrades completed during renovations, plus new windows installed in all apartments.
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
$72,399
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
7.39%
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%
$1,447,980
$1.4M
Cap Rate 7%
$1,034,271
$1.0M
Cap Rate 9%
$804,433
$804.4K
Market Conditions
NOI Build-Up for 2,992 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
$113.1K $37.80/SF
− Vacancy
−$9.7K −$3.23/SF
EGI
$103.4K $34.57/SF
− OpEx
−$31.0K −$10.37/SF
NOI
$72.4K $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%
$1,447,980
Cap Rate 7%
$1,034,271
Cap Rate 9%
$804,433
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$905.0K – $1.21M
NOI $72,399 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$949.8K
$831.1K – $1.11M
NOI $66,489 @ 7.0% cap · market cap 6.78%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Explore this area
Business Placement
Demographics for 10701, NY
68,704
Population
28,252
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
79%
High-School Grad
4.4 sq mi
ZIP Area
15,615
Density / Sq Mi
$63,310
Median Household Income
$42,702
Median Earnings
$1,694
Median Rent
$412,900
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 - Four gut-renovated one-bedroom units with updated kitchens, utilities, and off-street parking in Yonkers.
Where is this quadplex located?
The property is located at 643 Warburton Ave Yonkers, NY.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Four one‑bedroom units in a 1925 building, centrally located in Yonkers with a Hudson River view.; All four units were gut renovated and feature granite kitchen countertops and new appliances.; Plumbing and electrical upgrades completed during renovations, plus new windows installed in all apartments.
