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141 Ferris Ave 55 Unit Apartment Building $2,512,656 CAD ($45,685 CAD/Unit) 7% 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 |
$214,874
|
$25.57
|
| Other Income |
$33,502
|
$3.99
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$248,376
|
$29.56
|
| Taxes |
$38,527
|
$4.59
|
| Operating Expenses |
$41,642
|
$4.96
|
| Total Expenses |
$80,169
|
$9.54
|
| Net Operating Income |
$168,207
|
$20.02
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $214,874 |
| Annual Per SF | $25.57 |
| Other Income (CAD) | |
|---|---|
| Annual | $33,502 |
| Annual Per SF | $3.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $248,376 |
| Annual Per SF | $29.56 |
| Taxes (CAD) | |
|---|---|
| Annual | $38,527 |
| Annual Per SF | $4.59 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $41,642 |
| Annual Per SF | $4.96 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $80,169 |
| Annual Per SF | $9.54 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $168,207 |
| Annual Per SF | $20.02 |
PROPERTY FACTS
| Price | $2,512,656 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $45,685 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 7% | Building Size | 8,402 SF |
| No. Units | 55 | 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 | $2,512,656 CAD |
| Price Per Unit | $45,685 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 55 |
| 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
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 47 | $1,931 CAD | 413 - 500 |
| 3+2 | 3 | $1,044 CAD | 630 |
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PROPERTY TAXES
| Parcel Number | 1700-125-050-00002-000-0001 | Total Assessment | $35,253 CAD |
| Land Assessment | $4,935 CAD | Annual Taxes | $38,527 CAD ($4.59 CAD/SF) |
| Improvements Assessment | $30,317 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
1700-125-050-00002-000-0001
Land Assessment
$4,935 CAD
Improvements Assessment
$30,317 CAD
Total Assessment
$35,253 CAD
Annual Taxes
$38,527 CAD ($4.59 CAD/SF)
Tax Year
2024
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141 Ferris Ave
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