218 Mclean Ave, Yonkers, NY 10705
23 Unit Apartment Building | $3,400,000 ($147,826/Unit) | 6.80% Cap Rate | Yonkers, NY 10705
Asking Price $3,400,000
- Property Type
-
Multifamily
- Square Feet
- 33,944 SF
Listing Contacts
Seth Glasser
Michael Fusco
Binyamin Katz
- Property Info
Property Overview
New York Multifamily is pleased to offer the following opportunity in the Park Hill submarket of Yonkers. 218 McLean
Avenue is a 29- unit walk up building located between Rolling & Coyle Streets right off of Van Courtlandt Park Avenue.
Spanning 20,000 square feet, 218 McLean Avenue is composed of 4 studio, 24 one-bed, 1 two-bedroom apartments
along with 1 active, commercial billboard leased to Lamar Advertising Company for $2,580/year. This well-maintained
building offers investors with a unique opportunity to buy an attractive basis in one of the most attractive submarkets in
Yonkers at an asking price of $117,241/unit. Just East of Northern Riverdale & the University of Mount Saint Vincent, this
property is conveniently located is steps away from McLean Ave @ Coyle Pl bus station.
• The Building: 218 McLean Avenue is composed of 4 studio, 24 one-bed, 1 two-bedroom apartments along with 1
active, commercial billboard leased to Lamar Advertising Company for $2,580/year.
• The Metrics: Asking $117,241/unit l 6.9% Cap Rate l 8.0x GRM
• Preferential Rents: There are 9 apartments with higher legal registered rents providing investors with ~6,000/year of
potential additional cash flow.
• Convenient Location: Just East of Northern Riverdale & the University of Mount Saint Vincent, this property is
conveniently located is steps away from McLean Ave @ Coyle Pl bus station
Avenue is a 29- unit walk up building located between Rolling & Coyle Streets right off of Van Courtlandt Park Avenue.
Spanning 20,000 square feet, 218 McLean Avenue is composed of 4 studio, 24 one-bed, 1 two-bedroom apartments
along with 1 active, commercial billboard leased to Lamar Advertising Company for $2,580/year. This well-maintained
building offers investors with a unique opportunity to buy an attractive basis in one of the most attractive submarkets in
Yonkers at an asking price of $117,241/unit. Just East of Northern Riverdale & the University of Mount Saint Vincent, this
property is conveniently located is steps away from McLean Ave @ Coyle Pl bus station.
• The Building: 218 McLean Avenue is composed of 4 studio, 24 one-bed, 1 two-bedroom apartments along with 1
active, commercial billboard leased to Lamar Advertising Company for $2,580/year.
• The Metrics: Asking $117,241/unit l 6.9% Cap Rate l 8.0x GRM
• Preferential Rents: There are 9 apartments with higher legal registered rents providing investors with ~6,000/year of
potential additional cash flow.
• Convenient Location: Just East of Northern Riverdale & the University of Mount Saint Vincent, this property is
conveniently located is steps away from McLean Ave @ Coyle Pl bus station
Property Details
- Class
- C
- Year Built
- 1967
- Stories
- 4
- Lot Size (sq. ft)
- 13,068 SF
- Units
- 23
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