
Courtesy of: Lawrence Duignan, Spadaro Real Estate, Ltd., lduig4@gmail.com
$1,495,000
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Lot: 0.11 Acres
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Other
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$1,495,000
124 Center Avenue Rare FIVE-FAMILY family investment opportunity consisting of two separate buildings with off-street tenant parking and substantial income-growth potential. The 2, 052-square-foot front building offers three units: a spacious four-bedroom duplex with 1.5 baths and two additional two-bedroom apartments. The 1, 612-square-foot rear building contains two three-bedroom apartments. Current rents are well below market (annual income approx. $135K, ) and there are presently no written leases in place, offering flexibility for future rent adjustments, subject to applicable laws and regulations. PROJECTED annual income is approximately $220, 000 based on anticipated market rents. Each building is served by one gas boiler, with heat paid by the owner. Every apartment has a separate electric hot-water heater, with electricity paid by the tenant. An excellent value-add opportunity for investors seeking strong cash-flow potential in a desirable Mamaroneck location.
Courtesy of: Lawrence Duignan, Spadaro Real Estate, Ltd., lduig4@gmail.com
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