Leased Four-Unit Multifamily
New
For Sale
$1,295,000
212 Edwards Pl, Yonkers, NY 10703
Four occupied residences are accompanied by a separate parking lot, basement, and backyard.
Property Size5,276 SF
Days on Market4
Property Features for 212 Edwards Pl
General Information
Standard status
Active
Size
5,276 SF
Property subtype
Investment
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,741
Amenities
full basement with separate entrance
full backyard
Building Details
Building Size
5,276 SF
Year Built
1900
Units
4
Tenancy
Multi
Listing Agency:
Real Broker NY LLC
(516) 343-0806
Listed By:
Sharif Keshk
(516) 343-0806
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 11:25AM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
Built in 1900, this four-unit multifamily property contains 11 bedrooms and 4 bathrooms. All units are currently leased, and the sale includes an additional lot used for parking and generating additional income. The property also features a full basement with a separate entrance and a full backyard.
The property is approximately 5 minutes from major highways and provides access to shopping, schools, public transportation, and everyday amenities. The additional lot may offer future residential development potential, subject to zoning, municipal approvals, and applicable requirements. Walk Score is 55, Transit Score is 53, and Bike Score is 27.
The property is approximately 5 minutes from major highways and provides access to shopping, schools, public transportation, and everyday amenities. The additional lot may offer future residential development potential, subject to zoning, municipal approvals, and applicable requirements. Walk Score is 55, Transit Score is 53, and Bike Score is 27.
Key Highlights
- Four leased residential units with 11 bedrooms and 4 bathrooms
- Additional lot used for parking and generating additional income
- Full basement with a separate entrance
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
$117,244
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
9.05%
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%
$2,344,880
$2.3M
Cap Rate 7%
$1,674,914
$1.7M
Cap Rate 9%
$1,302,711
$1.3M
Market Conditions
NOI Build-Up for 5,276 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
$234.3K $44.40/SF
− Vacancy
−$21.1K −$4.00/SF
EGI
$213.2K $40.40/SF
− OpEx
−$95.9K −$18.18/SF
NOI
$117.2K $22.22/SF
Area
Yonkers, NY
Vacancy
9.00%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,344,880
Cap Rate 7%
$1,674,914
Cap Rate 9%
$1,302,711
Alternative Uses
Best Use
Multifamily LT 5
$1.82M
$1.60M – $2.13M
NOI $127,667 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$1.67M
$1.47M – $1.95M
NOI $117,244 @ 7.0% cap · market cap 9.05%
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
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,444
Businesses Nearby
Explore this area
Business Placement
Demographics for 10703, NY
22,571
Population
7,925
Households
2.8
Avg Household Size
39
Median Age
26%
College-Educated
80%
High-School Grad
1.6 sq mi
ZIP Area
14,107
Density / Sq Mi
$74,940
Median Household Income
$42,972
Median Earnings
$1,702
Median Rent
$477,500
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 occupied residences are accompanied by a separate parking lot, basement, and backyard.
Where is this quadplex located?
The property is located at 212 Edwards Pl Yonkers, NY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Four leased residential units with 11 bedrooms and 4 bathrooms; Additional lot used for parking and generating additional income; Full basement with a separate entrance
