UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision Yonkers
MLS Listing ID 993087
Style Victorian
Bedrooms 7
Full Baths 6
Rental Info No
Year Built 1935
Annual Tax Amount $11,873
Lot Size 1,742 Sqft
Acres 0.04
Property Sub-Type Triplex
Source onekey2
Property Description
The building includes 2 residential floors, with each floor offering 3 bedrooms and 2 bathrooms. Additional features include two separate basements with separate entrances, separate storage space near the parking area, and two attached outdoor parking spots. Positioned on a corner lot, the property receives excellent natural light and offers strong visibility.
For investment purposes, the property has projected gross income potential of approximately $154,000, estimated operating expenses of approximately $18,000, and a projected cap rate of approximately 15% for the total amount invested $499,999 + Approximately $400,000 for the renovations = $900,000 total investment. $136,000/ $900,000 is approximately 15% for the total amount invested. This creates a strong opportunity for buyers seeking a residential mixed-use commercial investment, owner-use potential, or a possible 1031 exchange option, subject to independent tax, legal, financial, and zoning review.
Conveniently located near daily services, retail, transportation, and neighborhood amenities, 332 Walnut Street combines commercial functionality, residential flexibility, architectural character, and long-term upside. With approved permits, grandfathered commercial use, multiple levels, private entrances, storage, and parking, this property presents a compelling opportunity in the Yonkers market.
All information regarding income projections, operating expenses, cap rate, permits, DOB approvals, zoning, grandfathered use, residential layout, taxes, build-out potential, permitted commercial use, and 1031 exchange eligibility should be independently verified by buyers and their representatives.
This property has been gutted and it is ready for the construction to begin with necessary permits and approvals in place. A very smart buy.
Location
State NY
County Westchester County
Rooms
Basement See Remarks, Storage Space
Interior
Interior Features Beamed Ceilings, Other
Heating Other, See Remarks
Cooling None
Fireplace No
Laundry Other
Exterior
Exterior Feature Other
Parking Features Attached, On Street, Parking Lot, Private
Fence Back Yard, Partial, Vinyl
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, See Remarks, Sewer Available, Trash Collection Public, Water Available
View Neighborhood
Total Parking Spaces 2
Garage false
Private Pool No
Building
Lot Description Corner Lot, Level
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Structure Type Frame
Schools
Elementary Schools Yonkers (School Choice)
Middle Schools Yonkers (School Choice)
High Schools Yonkers
School District Yonkers
Others
Senior Community No
Special Listing Condition None
NEARBY SCHOOLS & PROPERTIES
The mission of the ASA Real Estate Group is to provide a lifelong, positive impact on our clients, our communities, our team, as well as the other realtors with which we work. We specialize in assisting Buyers and Sellers transact. With our extensive knowledge of the market we help our clients get the best possible price for their home through proactive marketing approach. We guide sellers and buyers through every step of the process and keep them updated their transaction.