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141 Ferris Ave 11 Unit Apartment Building $2,460,690 CAD ($223,699 CAD/Unit) 6.78% 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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$213,615
|
$25.42
|
| Other Income |
$36,090
|
$4.30
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$249,705
|
$29.72
|
| Taxes |
$37,731
|
$4.49
|
| Operating Expenses |
$45,418
|
$5.41
|
| Total Expenses |
$83,148
|
$9.90
|
| Net Operating Income |
$166,557
|
$19.82
|
Financial Summary (Pro Forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $213,615 |
| Annual Per SF | $25.42 |
| Other Income (CAD) | |
|---|---|
| Annual | $36,090 |
| Annual Per SF | $4.30 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $249,705 |
| Annual Per SF | $29.72 |
| Taxes (CAD) | |
|---|---|
| Annual | $37,731 |
| Annual Per SF | $4.49 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $45,418 |
| Annual Per SF | $5.41 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $83,148 |
| Annual Per SF | $9.90 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $166,557 |
| Annual Per SF | $19.82 |
Property Facts
| Price | $2,460,690 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $223,699 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 6.78% | Building Size | 8,402 SF |
| No. Units | 11 | 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 | $2,460,690 CAD |
| Price Per Unit | $223,699 CAD |
| Sale Type | Investment |
| Cap Rate | 6.78% |
| No. Units | 11 |
| 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
1 1
Property Taxes
| Parcel Number | 1700-125-050-00002-000-0001 | Total Assessment | $34,103 CAD |
| Land Assessment | $4,774 CAD | Annual Taxes | $37,731 CAD ($4.49 CAD/SF) |
| Improvements Assessment | $29,329 CAD | Tax Year | 2024 |
Property Taxes
Parcel Number
1700-125-050-00002-000-0001
Land Assessment
$4,774 CAD
Improvements Assessment
$29,329 CAD
Total Assessment
$34,103 CAD
Annual Taxes
$37,731 CAD ($4.49 CAD/SF)
Tax Year
2024
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141 Ferris Ave
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