Log In/Sign Up
Your email has been sent.
90-92 Vark St 19 Unit Apartment Building $3,149,000 ($165,737/Unit) 7% Cap Rate Yonkers, NY 10701
Investment Highlights
- 35% Upside Between Market Rate Rents & Preferential Rents
- Getty Square Section Of Yonkers In Proximity To Route 9, The Riverfront & Both The Yonkers & Ludlow Train Stations
- 4 Free-Market Units | PRO FORMA 10% CAP
Executive Summary
The Oak & Avery Group is pleased to present 90 Vark St, a 19-unit multifamily building located in the Getty Square neighborhood of Yonkers. The property is in proximity to Route 9, the Yonkers riverfront and both the Yonkers and Ludlow train stations.
***PRO-FORMA 10% CAP by merely capturing the preferential/legal rent delta and raising to modest rental rates on free-market units.
All units are 3-bedroom, 1-bathroom railroad layouts. Four apartments are free-market/destabilized having broke the legal rent threshold. In addition, there are 12 apartments who are currently on a preferential rent, allowing for about 35% upside between the free-market and preferential rent mix. There are no program tenants.
There is currently a live-in super who is not paying rent. The landlord pays heat and hot water via an oil boiler. Tenants are individually metered for electric. The roof and boiler are ~20 years old. Recent capex improvements include a new parapet wall (2018), building pointing (2020) and kitchens and bathrooms as
needed.
***PRO-FORMA 10% CAP by merely capturing the preferential/legal rent delta and raising to modest rental rates on free-market units.
All units are 3-bedroom, 1-bathroom railroad layouts. Four apartments are free-market/destabilized having broke the legal rent threshold. In addition, there are 12 apartments who are currently on a preferential rent, allowing for about 35% upside between the free-market and preferential rent mix. There are no program tenants.
There is currently a live-in super who is not paying rent. The landlord pays heat and hot water via an oil boiler. Tenants are individually metered for electric. The roof and boiler are ~20 years old. Recent capex improvements include a new parapet wall (2018), building pointing (2020) and kitchens and bathrooms as
needed.
Property Facts
| Price | $3,149,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $165,737 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 7% | Building Size | 15,000 SF |
| No. Units | 19 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | ||
| Zoning | A | ||
| Price | $3,149,000 |
| Price Per Unit | $165,737 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 15,000 SF |
| No. Stories | 5 |
| Year Built | 1965 |
| Zoning | A |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 19 | - | 800 |
1 1
Walk Score®
Walker's Paradise (92)
Property Taxes
| Parcel Number | 1800-001-000-00178-000-0001 | Improvements Assessment | $19,600 |
| Land Assessment | $2,800 | Total Assessment | $22,400 |
Property Taxes
Parcel Number
1800-001-000-00178-000-0001
Land Assessment
$2,800
Improvements Assessment
$19,600
Total Assessment
$22,400
1 of 3
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
90-92 Vark St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.