Remodeled Four-Family Property in
For Sale
Contact for pricing
92 Elliott Ave, Yonkers, NY 10705
Fully remodeled four-family property with income potential near NYC.
Property Size3,550 SF
Price / SF$422.53
Days on Market157
Property Features for 92 Elliott Ave
General Information
Standard status
Active
Size
3,550 SF
Property subtype
Multifamily
Investment Type
Owner/User
Building Details
Year Built
1908
Units
4
Listing Agency:
Compass Greater NY
Listed By:
Kevin Lang · License #10401327483
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 8 at 2:56PM
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 Compass Greater NY
Investment Insights
Based on property information with market context.
This fully remodeled legal four-family property offers strong income potential and immediate upside. It is an excellent opportunity for both investors and owner-occupants. Ideal for an investor seeking a strong addition to their portfolio or a buyer looking to live in one unit while renting the other three. The building has been extensively updated, providing modernized units and low-maintenance ownership. Each unit is separately metered for gas and electric, with tenants responsible for their own utilities, while the landlord pays for water. Two units will be delivered vacant, offering the ability to immediately occupy or rent at current market rates, while the remaining two units are currently rented below market, creating meaningful upside potential for increased income. With low property taxes and a convenient location near shops, schools, major parkways, public transportation, and easy access to NYC, this property presents a compelling opportunity for immediate cash flow and long-term investment potential. The property size is 3550 square feet. It is a remodeled, income-producing property ready for its next owner.
Key Highlights
- Strong income potential with immediate upside due to below‑market rents and two vacant units ready to rent.
- Fully remodeled, low‑maintenance four‑family property.
- Excellent opportunity for investors or owner‑occupants.
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
$85,902
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
5.73%
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%
$1,718,040
$1.7M
Cap Rate 7%
$1,227,171
$1.2M
Cap Rate 9%
$954,467
$954.5K
Market Conditions
NOI Build-Up for 3,550 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
$134.2K $37.80/SF
− Vacancy
−$11.5K −$3.23/SF
EGI
$122.7K $34.57/SF
− OpEx
−$36.8K −$10.37/SF
NOI
$85.9K $24.20/SF
Area
Yonkers, NY
Vacancy
8.55%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,718,040
Cap Rate 7%
$1,227,171
Cap Rate 9%
$954,467
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.07M – $1.43M
NOI $85,902 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$1.13M
$986.1K – $1.31M
NOI $78,889 @ 7.0% cap · market cap 5.26%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,746
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?
Quadplex - Fully remodeled four-family property with income potential near NYC.
Where is this quadplex located?
The property is located at 92 Elliott Ave Yonkers, NY.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: Strong income potential with immediate upside due to below‑market rents and two vacant units ready to rent.; Fully remodeled, low‑maintenance four‑family property.; Excellent opportunity for investors or owner‑occupants.
