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141 Ferris Ave 55 Unit Apartment Building $1,800,000 ($32,727/Unit) 7% Cap Rate White Plains, NY 10603
INVESTMENT HIGHLIGHTS
- CLose to Metro North Railroad
- Parking available
EXECUTIVE SUMMARY
Prime 11-Unit Multi-Family Investment Opportunity! This impressive brick building, in great condition, offers a rare combination of convenience, stability, and income potential. Featuring 11 spacious units, including 9 ETPA-regulated and 2 rent-controlled apartments, this property provides an ideal setup for long-term rental income. Residents enjoy easy access to on-site parking, with a large lot accommodating 15 cars plus a 2-car garage. Located near the Metro-North Railroad, local shops, bus lines, and major parkways and highways. A fantastic opportunity for investors seeking a stable, high-demand rental asset!
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$153,930
|
$18.32
|
| Other Income |
$24,000
|
$2.86
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$177,930
|
$21.18
|
| Taxes |
$27,600
|
$3.28
|
| Operating Expenses |
$29,831
|
$3.55
|
| Total Expenses |
$57,431
|
$6.84
|
| Net Operating Income |
$120,499
|
$14.34
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $153,930 |
| Annual Per SF | $18.32 |
| Other Income | |
|---|---|
| Annual | $24,000 |
| Annual Per SF | $2.86 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $177,930 |
| Annual Per SF | $21.18 |
| Taxes | |
|---|---|
| Annual | $27,600 |
| Annual Per SF | $3.28 |
| Operating Expenses | |
|---|---|
| Annual | $29,831 |
| Annual Per SF | $3.55 |
| Total Expenses | |
|---|---|
| Annual | $57,431 |
| Annual Per SF | $6.84 |
| Net Operating Income | |
|---|---|
| Annual | $120,499 |
| Annual Per SF | $14.34 |
PROPERTY FACTS
| Price | $1,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $32,727 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 7% | Building Size | 8,402 SF |
| No. Units | 55 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1924 |
| Zoning | UR-2 - pertains to a high-density residential or mixed-use area | ||
| Price | $1,800,000 |
| Price Per Unit | $32,727 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 55 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 8,402 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1924 |
| Zoning | UR-2 - pertains to a high-density residential or mixed-use area |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 47 | $1,384 | 413 - 500 |
| 3+2 | 3 | $748.00 | 630 |
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PROPERTY TAXES
| Parcel Number | 1700-125-050-00002-000-0001 | Total Assessment | $25,000 |
| Land Assessment | $3,500 | Annual Taxes | $27,600 ($3.28/SF) |
| Improvements Assessment | $21,500 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
1700-125-050-00002-000-0001
Land Assessment
$3,500
Improvements Assessment
$21,500
Total Assessment
$25,000
Annual Taxes
$27,600 ($3.28/SF)
Tax Year
2024
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141 Ferris Ave
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