Four-Unit Multifamily with Finished
For Sale
$1,150,000
22-24 S Eckar, Irvington, NY 10533
Four residential units, all empty, with gas heat and two basements including one finished.
Property Size4,380 SF
Days on Market48
Property Features for 22-24 S Eckar
General Information
Standard status
Active
Size
4,380 SF
Property subtype
Investment
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$19,175
Building Details
Building Size
4,380 SF
Year Built
1930
Units
4
Listing Agency:
Coldwell Banker Residential Brokerage
(718) 877-8102
Listed By:
Lashaun M. McCalla
(718) 877-8102
Source:
Elliman
Added: Jul 14
Changed: Aug 17
Last Checked: Aug 29 at 2:10PM
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 Coldwell Banker Residential Brokerage
Investment Insights
Based on property information with market context.
This four-unit multifamily property offers four separate residential units, each currently empty and ready to show. The building includes two basements, one finished and the other with potential for additional use. Gas heat runs throughout the home, providing consistent heating across the units.
The property is described as within walking distance to shopping and transportation, with Irvington schools, the library, and municipal services also nearby.
Each unit is laid out to feel like a garden-style living space, with access to the back yard or porch. The opportunity includes room for an owner to put their own stamp on the units and the overall property layout.
The property is described as within walking distance to shopping and transportation, with Irvington schools, the library, and municipal services also nearby.
Each unit is laid out to feel like a garden-style living space, with access to the back yard or porch. The opportunity includes room for an owner to put their own stamp on the units and the overall property layout.
Key Highlights
- 4‑unit multifamily home built in 1930
- All four units are empty and ready to show
- Gas heat runs throughout the home
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
$85,313
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
7.42%
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%
$1,706,260
$1.7M
Cap Rate 7%
$1,218,757
$1.2M
Cap Rate 9%
$947,922
$947.9K
Market Conditions
NOI Build-Up for 4,380 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
$130.3K $29.76/SF
− Vacancy
−$8.5K −$1.93/SF
EGI
$121.9K $27.83/SF
− OpEx
−$36.6K −$8.35/SF
NOI
$85.3K $19.48/SF
Area
Westchester County, NY
Vacancy
6.50%
Lease Rate
$29.76 /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%
$1,706,260
Cap Rate 7%
$1,218,757
Cap Rate 9%
$947,922
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,313 @ 7.0% cap · market cap 7.42%
Second Best
Apartment 5plus
$1.07M
$939.1K – $1.25M
NOI $75,125 @ 7.0% cap · market cap 6.53%
Theoretical Best
Retail
$1.32M
$1.16M – $1.54M
NOI $92,613 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
Explore this area
Business Placement
Demographics for 10533, NY
7,705
Population
2,999
Households
2.6
Avg Household Size
43
Median Age
85%
College-Educated
98%
High-School Grad
3.6 sq mi
ZIP Area
2,140
Density / Sq Mi
$171,250
Median Household Income
$93,333
Median Earnings
$2,444
Median Rent
$907,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units, all empty, with gas heat and two basements including one finished.
Where is this quadplex located?
The property is located at 22-24 S Eckar Irvington, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 4‑unit multifamily home built in 1930; All four units are empty and ready to show; Gas heat runs throughout the home
