Yonkers Multifamily Investment
For Sale
$4,000,000
279 S Broadway, Yonkers, NY 10705
12-unit building in Yonkers with upside potential.
Property Size13,260 SF
Lot Size0.10 Acres
Days on Market267
Property Features for 279 S Broadway
General Information
Standard status
Active
Size
13,260 SF
Lot size
0.10 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$29,629
Building Details
Building Size
13,260 SF
Year Built
1958
Units
12
Listing Agency:
KELLER WILLIAMS REALTY PARTNER
(914) 450-1185
Listed By:
Dominick DiFilippo
(914) 450-1185
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 17
Last Checked: Aug 21 at 1:06PM
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 KELLER WILLIAMS REALTY PARTNER
Investment Insights
Based on property information with market context.
Located in the Ludlow/Park Hill area of Yonkers, the property at 279 S Broadway is a 12-unit brick investment property. It offers over 13,000 square feet of living space. All units are currently rented month-to-month, providing flexibility for future rent increases or repositioning. The building features boilers installed in 2019 and a full unfinished basement loaded with potential, ideal for adding coin-operated washer/dryer units to generate additional income and enhance tenant convenience. A private backyard, accessible only to ownership, offers a rare outdoor amenity in this corridor. The property is near the Ludlow Metro-North Station, downtown Yonkers waterfront, and major highways. This property presents a prime opportunity for investors seeking long-term growth and value in one of Yonkers most promising submarkets.
Key Highlights
- Prime location in the desirable Ludlow/Park Hill area of Yonkers.
- 12‑unit brick investment property with over 13,000 square feet of living space.
- Tremendous upside potential due to month‑to‑month rentals, allowing for rent increases or repositioning.
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
$294,666
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
7.37%
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%
$5,893,320
$5.9M
Cap Rate 7%
$4,209,514
$4.2M
Cap Rate 9%
$3,274,067
$3.3M
Market Conditions
NOI Build-Up for 13,260 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
$588.7K $44.40/SF
− Vacancy
−$53.0K −$4.00/SF
EGI
$535.8K $40.40/SF
− OpEx
−$241.1K −$18.18/SF
NOI
$294.7K $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%
$5,893,320
Cap Rate 7%
$4,209,514
Cap Rate 9%
$3,274,067
Alternative Uses
Best Use
Apartment 5plus
$4.21M
$3.68M – $4.91M
NOI $294,666 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$4.58M
$4.01M – $5.35M
NOI $320,861 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,371
Businesses Nearby
Explore this area
Business Placement
Demographics for 10705, NY
41,785
Population
15,620
Households
2.7
Avg Household Size
36
Median Age
30%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
18,993
Density / Sq Mi
$68,616
Median Household Income
$40,717
Median Earnings
$1,602
Median Rent
$445,600
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?
Apartment building - 12-unit building in Yonkers with upside potential.
Where is this apartment building located?
The property is located at 279 S Broadway Yonkers, NY.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Prime location in the desirable Ludlow/Park Hill area of Yonkers.; 12‑unit brick investment property with over 13,000 square feet of living space.; Tremendous upside potential due to month‑to‑month rentals, allowing for rent increases or repositioning.
