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$ 949,000
Est. payment | /mo
5,092 Sqft Lot
$ 949,000
Est. payment | /mo
5,092 Sqft Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1037902
Rental Info No
Year Built 1960
Annual Tax Amount $17,185
Lot Size 5,092 Sqft
Acres 0.1169
Property Sub-Type Multi Family
Source onekey2
Property Description
Exceptional investment opportunity in the heart of Mamaroneck. Set on a quiet dead-end street within walking distance of the Metro-North train station, this legal 2-family home offers approximately 2,900 square feet of living space and delivers steady income with real upside. Both units offer three spacious bedrooms. The first-floor unit features 1.5 baths, a fireplaced living room, a large eat-in kitchen with in-unit laundry, an enclosed porch, and access to the deck and yard. The second-floor unit offers 1 bath, a private separate side entrance, and generous living space. A full basement and built-in 2-car garage round out the package.
Beyond the primary living space, an additional approximately 296 square feet offers strong potential to be finished and utilized for added income — an opportunity to expand the property's value and returns over time.
The property currently generates $5,800/month — $69,600 annually — with long-term tenants in place (approximately 20 years) at below-market rents, providing immediate, reliable cash flow with clear room to grow. At the $975,000 asking price, it produces a 4.80% cap rate on $46,800 of net operating income, with additional value to be unlocked through future rent adjustments and property improvements.
An unbeatable commuter location: walk to the train, downtown restaurants, shopping, and Harbor Island Park & Beach, with quick, convenient access to I-95. Collect rent as a turnkey investment, or occupy one unit and let the other help pay the mortgage. A rare offering in "the friendly village" of Mamaroneck.
Beyond the primary living space, an additional approximately 296 square feet offers strong potential to be finished and utilized for added income — an opportunity to expand the property's value and returns over time.
The property currently generates $5,800/month — $69,600 annually — with long-term tenants in place (approximately 20 years) at below-market rents, providing immediate, reliable cash flow with clear room to grow. At the $975,000 asking price, it produces a 4.80% cap rate on $46,800 of net operating income, with additional value to be unlocked through future rent adjustments and property improvements.
An unbeatable commuter location: walk to the train, downtown restaurants, shopping, and Harbor Island Park & Beach, with quick, convenient access to I-95. Collect rent as a turnkey investment, or occupy one unit and let the other help pay the mortgage. A rare offering in "the friendly village" of Mamaroneck.
Location
State NY
County Westchester County
Rooms
Basement Unfinished
Interior
Heating Baseboard
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Dishwasher, Dryer, ENERGY STAR Qualified Appliances, Microwave, Refrigerator
Exterior
Parking Features Attached
Utilities Available Trash Collection Public
Building
Sewer Public Sewer
Water Public
Structure Type Frame
Schools
Elementary Schools Mamaroneck Avenue
Middle Schools Hommocks School
High Schools Mamaroneck
School District Mamaroneck
Others
Special Listing Condition None
Listed by Compass Greater NY LLC • Lindsay Rothman
NEARBY SCHOOL & BUSINESS
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