Turnkey Triplex with 3-Car
For Sale
$950,000
173 Elm St, Yonkers, NY 10701
Three 3-bedroom units with newer windows plus a finished basement and off-street parking in an attached 3-car garage.
Property Size3,196 SF
Days on Market57
Property Features for 173 Elm St
General Information
Standard status
Active
Size
3,196 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,145
Building Details
Building Size
3,196 SF
Year Built
1893
Units
3
Tenancy
Multi
Listing Agency:
(914) 376-2541
Listed By:
Nelson Santana
Source:
Elliman
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 11 at 10:03AM
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 Nelson Santana
Investment Insights
Based on property information with market context.
This well-maintained triplex offers three spacious, sunlit apartments with an identical layout. Each unit features three bedrooms, one full bathroom, and an oversized eat-in kitchen alongside a generous living area. Additional improvements include newer windows, and the property also includes a fully finished basement for added flexibility.
The home is located at 173 Elm St in Yonkers. WalkScore is 72 (Very Walkable) and transitScore is 57 (Good Transit), with bikeScore of 25 (Somewhat Bikeable). Public transportation and major highways are described as nearby, along with local restaurants and shopping.
The configuration suits buyers seeking a residential income property with consistent unit layouts across all three apartments. Tenant-paid utilities can help simplify operating expenses, and the attached 3-car garage paired with a large driveway provides meaningful off-street parking. With three bedrooms per unit and a finished basement, the property offers straightforward functionality for a range of tenant needs.
The home is located at 173 Elm St in Yonkers. WalkScore is 72 (Very Walkable) and transitScore is 57 (Good Transit), with bikeScore of 25 (Somewhat Bikeable). Public transportation and major highways are described as nearby, along with local restaurants and shopping.
The configuration suits buyers seeking a residential income property with consistent unit layouts across all three apartments. Tenant-paid utilities can help simplify operating expenses, and the attached 3-car garage paired with a large driveway provides meaningful off-street parking. With three bedrooms per unit and a finished basement, the property offers straightforward functionality for a range of tenant needs.
Key Highlights
- 1893‑built triplex with three 3‑bedroom apartments, each with 1 full bathroom and an oversized eat‑in kitchen and living area
- Newer windows throughout to improve energy efficiency
- Tenants pay all utilities
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
$77,336
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
8.14%
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%
$1,546,720
$1.5M
Cap Rate 7%
$1,104,800
$1.1M
Cap Rate 9%
$859,289
$859.3K
Market Conditions
NOI Build-Up for 3,196 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
$120.8K $37.80/SF
− Vacancy
−$10.3K −$3.23/SF
EGI
$110.5K $34.57/SF
− OpEx
−$33.1K −$10.37/SF
NOI
$77.3K $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%
$1,546,720
Cap Rate 7%
$1,104,800
Cap Rate 9%
$859,289
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$966.7K – $1.29M
NOI $77,336 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$1.01M
$887.8K – $1.18M
NOI $71,022 @ 7.0% cap · market cap 7.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,557
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?
Triplex - Three 3-bedroom units with newer windows plus a finished basement and off-street parking in an attached 3-car garage.
Where is this triplex located?
The property is located at 173 Elm St Yonkers, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1893‑built triplex with three 3‑bedroom apartments, each with 1 full bathroom and an oversized eat‑in kitchen and living area; Newer windows throughout to improve energy efficiency; Tenants pay all utilities
