111 Beech St Yonkers, NY 10701-4303

Property Details for 111 Beech St

Year built

1905

Lot size

0.05 lot acres

Property size

3,450 SF

Zone code

M

Property type

Investment properties

Property subtype

Live-work space

APN

551800 1.-457-18

APU

551800145718

Description

This three-story, mixed-use building in Yonkers, NY, presents a compelling investment opportunity. The property, built in 1905 and renovated in 2024, sits on a 2,500 sq ft lot and includes two residential units and a ground-floor grocery store. The second-floor apartment is occupied by a Section 8 tenant paying $2,002 monthly, providing guaranteed income. The third-floor unit commands $1,950 per month on a month-to-month lease. The ground-floor grocery store is under a 10-year lease (commencing February 1, 2022, expiring January 31, 2032), currently paying $3,600 per month with a 6% annual rent increase. A leased garage adds $1,210 monthly to the income stream. The property boasts a strong Net Operating Income (NOI) of approximately $80,915, resulting in a 6.74% cap rate. Annual expenses include approximately $11,028.66 in taxes, $12,000 for heating and electricity, and $1,200 for water. The 2024 roof replacement, insured for 15 years, minimizes future capital expenditures. With a mix of stable, long-term tenants and a desirable location, this property offers a balanced investment with significant upside potential through future rent increases. Two parking spaces are available. The asking price is $1,200,000.

Location Insight

City

Yonkers

County

Westchester

State

New York

Longitude

-73.8901

Latitude

40.9313

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments