90 Vark StYonkers, NY

The Oak & Avery Group is pleased to present 90 Vark St, a 19-unit multifamily building located in the Getty Square neighborhood of Yonkers.

All units are 3-bedroom, 1-bathroom railroad layouts. Four apartments are free market/destabilized having broke the legal rent threshold. In addition, there are 12 apartments who are currently on a preferential rent, allowing for about 35% upside between the free-market and preferential rent mix with a pro-forma cap rate of 10%. There are no program tenants.

There is currently a live-in super who is not paying rent. The landlord pays heat and hot water via an oil boiler. Tenants are individually metered for electric. The roof and boiler are ~20 years old. Recent capex improvements include a new parapet wall (2018), building pointing (2020) and kitchens and bathrooms as needed.