Residential Duplex Renovation
912 Lester Avenue Mamaroneck, NY 10543
912 Lester Avenue, Mamaroneck, NY, 10543
$998,000
For Sale
$998,000
Duplex sold AS IS after interior fire, with structural soundness and permit options for up to four bedrooms per unit.
Property Size2,368 SF
Price / SF$421.45
Days on Market8
Property Features for 912 Lester Avenue
General Information
- Standard status
- Active
- Size
- 2,368 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1963
Listing agency
R New York
(212) 688-1000
Listed by
S. William Wang
(212) 688-1000
Source
Compass
Added: Jul 15 Updated: Jul 22 at 12:52AM Checked: Jul 22 at 12:52AM
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 R New York
Investment Insights
Based on property information with market context.
This duplex is being sold AS IS due to a recent fire inside, and it will require renovation. The property is described as structurally very sound. The seller indicates you may be able to obtain permitting for up to 4 bed/2 bath per unit for flooring and walls, subject to your own designed drawings. The property is currently in the process of filing for a demo removal permit, so there are no internal visits permitted, only outside viewing. Original drawings are available and referenced as attached.
For due diligence, buyers should plan on working through permitting and renovation planning based on the documentation provided, while recognizing that interior access is restricted at this time.
The opportunity is best suited for buyers comfortable completing the necessary interior work and permitting steps following the fire and the current demo permit status.
For due diligence, buyers should plan on working through permitting and renovation planning based on the documentation provided, while recognizing that interior access is restricted at this time.
The opportunity is best suited for buyers comfortable completing the necessary interior work and permitting steps following the fire and the current demo permit status.
Key Highlights
- Duplex sold AS IS due to a recent interior fire; renovation required
- Structural is reported as very sound
- Basement is full with walk‑out access
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.5k | $29.76 |
| − Vacancy | −$4.6k | −$1.93 |
| EGI | $65.9k | $27.83 |
| − OpEx | −$19.8k | −$8.35 |
| NOI | $46.1k | $19.48 |
2,368 SF · lease $29.76/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$658.9K
$576.6K – $768.7K
NOI $46,124 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$580.2K
$507.7K – $676.9K
NOI $40,615 @ 7.0% cap · market cap 4.07%
Theoretical Best
Retail
$715.3K
$625.9K – $834.5K
NOI $50,070 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex sold AS IS after interior fire, with structural soundness and permit options for up to four bedrooms per unit.
Where is this duplex located?
The property is located at 912 Lester Avenue Mamaroneck, NY.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Duplex sold AS IS due to a recent interior fire; renovation required; Structural is reported as very sound; Basement is full with walk‑out access
