Building Details

Building Size 3,415 SF

Year Built 1928

Buildings 1

Tenancy Multi

Listed By: Michelle Madaffari Show Phone

Source: Evrealestate

Added: Aug 11 Changed: Sep 23 Last Checked: Oct 4 at 9:17AM

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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 Michelle Madaffari

Investment Insights

Based on property information with market context.

Built in 1928, this fully occupied triplex contains three residential units with a 4BR/1BA, 3BR/1BA, and 2BR/2BA configuration. The first-floor residence has in-unit laundry, while a separate two-car garage is currently unused by residents. Utility responsibility varies by unit: tenants pay electric and gas in two apartments, and the owner covers utilities for the 2BR/2BA unit.

The property is positioned at the end of a quiet no-outlet street at 25 Fremont St in Harrison. Metro-North, local shops, and Harrison schools are described as a short commute away. Walk Score is 80, Bike Score is 63, and Transit Score is 48.

Additional improvements include a new above-ground 330-gallon oil tank and a roof that is 10 years old. The asset carries an approximately 7% cap rate and is fully leased, with the garage providing separate storage-use potential.

Key Highlights

• Fully leased three‑unit property with approximately 7% cap rate
• Unit mix includes 4BR/1BA, 3BR/1BA, and 2BR/2BA apartments
• Large 2‑car garage currently unused by tenants

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$66,517

Cap Rate

4.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,330,340 $1.3M

Cap Rate 7%

$950,243 $950.2K

Cap Rate 9%

$739,078 $739.1K

Market Conditions

NOI Build-Up for 3,415 SF

Gross rent

$101.6K $29.76/SF

− Vacancy

−$6.6K −$1.93/SF

EGI

$95.0K $27.83/SF

− OpEx

−$28.5K −$8.35/SF

NOI

$66.5K $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 Rate 5%

$1,330,340

Cap Rate 7%

$950,243

Cap Rate 9%

$739,078

Alternative Uses

Best Use

Multifamily LT 5

$950.2K

$831.5K – $1.11M (±1% cap)

NOI $66,517 @ 7.0% cap · market cap 4.16%

Second Best

Apartment 5plus

$836.8K

$732.2K – $976.2K (±1% cap)

NOI $58,573 @ 7.0% cap · market cap 3.66%

Theoretical Best

Retail

$1.03M

$902.6K – $1.20M (±1% cap)

NOI $72,208 @ 7.0% cap · market cap 4.52%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Computer & Electronic Repair Law Firm Tech Support Center Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

929

Businesses Nearby

Explore this area Business Placement

Demographics for 10528, NY

13,108

Population

5,101

Households

2.6

Avg Household Size

40

Median Age

58%

College-Educated

94%

High-School Grad

3.8 sq mi

ZIP Area

3,449

Density / Sq Mi

$151,193

Median Household Income

$73,327

Median Earnings

$2,683

Median Rent

$934,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three-unit rental property with a two-car garage and in-unit laundry.

Where is this triplex located?

The property is located at 25 Fremont Street Harrison, NY.

What is the asking price?

The asking price for this property is $1,599,000.

What are key features of this property?

This property features: Fully leased three‑unit property with approximately 7% cap rate; Unit mix includes 4BR/1BA, 3BR/1BA, and 2BR/2BA apartments; Large 2‑car garage currently unused by tenants