Multifamily Property with Walkout
For Sale
$1,299,000
Pending
89 Frances Avenue, Harrison, NY 10528
Three living areas, an attached garage, and driveway parking provide a flexible residential income configuration.
Property Size2,957 SF
Days on Market10
Property Features for 89 Frances Avenue
General Information
Standard status
Pending
Size
2,957 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$21,442
Amenities
Finished,Storage Space,Walk-Out Access
Carpet,Hardwood
2
Yes
3
Bay Window(s),Blinds
First Floor Bedroom,First Floor Full Bath,Breakfast Bar,Ceiling Fan(s),Eat-in Kitchen,Entrance Foyer,Granite Counters,Kitchen Island,Storage
Finished, Storage Space, Walk-Out Access
Partial
Public
5
No
Driveway, Garage, Garage Door Opener, Heated Garage
Balcony,Garden
Raised
2957
Building Details
Building Size
2,957 SF
Year Built
1974
Buildings
1
Listing Agency:
(516) 703-2918
Listed By:
Hassan Mahmood
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 29
Last Checked: Oct 28 at 9:18AM
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 Hassan Mahmood
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Investment Insights
Based on property information with market context.
This 1974 multifamily property includes first- and second-floor apartments and a finished, above-grade walkout basement area. The first-floor layout has three bedrooms, two full bathrooms, living and dining rooms, and an eat-in kitchen that opens to a deck. The basement includes a remodeled kitchen, laundry area, storage, and entertaining space. Recent work includes updated finishes in the second-floor apartment, new appliances, bathroom improvements, and electrical service upgrades with two 100-amp meter panels. The property also has an attached oversized one-car garage and driveway parking for up to four vehicles.
Parsons Memorial School, the Harrison Metro-North Railroad station, parks, restaurants, and local shopping are within walking distance. The second-floor and basement units have tenants, while the first-floor unit is vacant.
Parsons Memorial School, the Harrison Metro-North Railroad station, parks, restaurants, and local shopping are within walking distance. The second-floor and basement units have tenants, while the first-floor unit is vacant.
Key Highlights
- Attached oversized one‑car garage and driveway parking for up to four vehicles
- Finished, above‑grade walkout basement with remodeled kitchen and laundry area
- Two new 100‑amp meter panels approved by Harrison Town and ConEd
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,596
Cap Rate
4.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,151,920
$1.2M
Cap Rate 7%
$822,800
$822.8K
Cap Rate 9%
$639,956
$640.0K
Market Conditions
NOI Build-Up for 2,957 SF
Gross rent
$88.0K $29.76/SF
− Vacancy
−$5.7K −$1.93/SF
EGI
$82.3K $27.83/SF
− OpEx
−$24.7K −$8.35/SF
NOI
$57.6K $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%
$1,151,920
Cap Rate 7%
$822,800
Cap Rate 9%
$639,956
Alternative Uses
Best Use
Multifamily LT 5
$822.8K
$720.0K – $959.9K
NOI $57,596 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$724.5K
$634.0K – $845.3K
NOI $50,718 @ 7.0% cap · market cap 3.90%
Theoretical Best
Retail
$893.2K
$781.6K – $1.04M
NOI $62,524 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three living areas, an attached garage, and driveway parking provide a flexible residential income configuration.
Where is this multifamily property located?
The property is located at 89 Frances Avenue Harrison, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Attached oversized one‑car garage and driveway parking for up to four vehicles; Finished, above‑grade walkout basement with remodeled kitchen and laundry area; Two new 100‑amp meter panels approved by Harrison Town and ConEd
