Building Details

Building Size 6,696 SF

Year Built 1941

Units 7

Listing Agency: Winzone Realty Inc

Listed By: Alon A. Yosopov · License #10401378143 Show Phone

Source: Elliman

Added: Apr 24 Changed: Oct 25 Last Checked: Jul 16 at 9:31AM

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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 Winzone Realty Inc

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Investment Insights

Based on property information with market context.

This property features a 7-unit multifamily building with an additional buildable lot, both sold together. Located in Yonkers near Van Cortlandt Park, the property includes seven residential units, with a bonus superintendent unit. The units are spacious and well-laid-out. A three-car garage and additional parking provide separate income potential. The sale includes a separate adjacent lot measuring 3,485 sq ft, bringing the total combined lot size to approximately 6,970 sq ft. This lot offers potential for future development, expansion, outdoor amenities, or resale upside. The location benefits from strong rental demand. The property is located in a very walkable area with good transit and is bikeable.

Key Highlights

• 7‑unit multifamily building with an additional buildable lot included.
• Separate adjacent lot (3,485 sq ft) offers future development potential.
• Three‑car garage plus additional parking provides separate income.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$148,800

Cap Rate

5.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,976,000 $3.0M

Cap Rate 7%

$2,125,714 $2.1M

Cap Rate 9%

$1,653,333 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,696 SF

Gross rent

$297.3K $44.40/SF

− Vacancy

−$26.8K −$4.00/SF

EGI

$270.5K $40.40/SF

− OpEx

−$121.7K −$18.18/SF

NOI

$148.8K $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 Rate 5%

$2,976,000

Cap Rate 7%

$2,125,714

Cap Rate 9%

$1,653,333

Alternative Uses

Best Use

Apartment 5plus

$2.13M

$1.86M – $2.48M (±1% cap)

NOI $148,800 @ 7.0% cap · market cap 5.78%

Second Best

—

—

no second resolved use

Theoretical Best

Multifamily LT 5

$2.31M

$2.03M – $2.70M (±1% cap)

NOI $162,028 @ 7.0% cap · market cap 6.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic Acupuncture Catering Service (Bike/Boat/Book/etc) 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.

Location Intelligence

Trade Area within ½ mile

2,485

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - 7-unit building with a buildable lot near Van Cortlandt Park.

Where is this apartment building located?

The property is located at 28-32 Van Cortlandt Park Ave Yonkers, NY.

What is the asking price?

The asking price for this property is $2,575,000.

What are key features of this property?

This property features: 7‑unit multifamily building with an additional buildable lot included.; Separate adjacent lot (3,485 sq ft) offers future development potential.; Three‑car garage plus additional parking provides separate income.**