289 Warburton Avenue, Yonkers, NY 10701

$1,990,000
List Price
$1,990,000
Days on Market
27
MLS#
H6314116
Status
ACTIVE
Property Type
Unimproved Land
Property Tax
$9,000
Neighborhood
Yonkers
School District
Yonkers
High School
Yonkers High School
Jr. High
Yonkers Middle School
Elementary School
Yonkers Early Childhood Academy

Property Description

This is your chance to get in on the Yonkers development BOOM! Location: The lot has a prime location with 100 feet on Warburton Ave and an additional 25 feet on Woodworth Ave, providing convenient access and potentially enhancing attractiveness. Approval and Development: The site is fully approved for a 36-unit apartment building, which streamlines the development process and reduces uncertainty for investors. Proforma of over $840,000 per year net income! Building Features: The planned building will be high efficiency, running on electric power, which aligns with modern sustainability trends. Tenants will be responsible for paying their own utilities. Parking: The property offers two levels of on-site parking, totaling 36 spaces. Sufficient parking is a crucial factor for urban developments and can add substantial value. Affordable Housing: The inclusion of one affordable rental unit, as required by the City of Yonkers, not only meets regulatory requirements but also supports community inclusivity. Proximity to Transit: With a distance of only 0.07 miles to the Metro North Station, the site offers excellent access to public transportation, appealing to commuters and enhancing the property's marketability. View and Surroundings: Apartments at the rear of the building will boast views of the Hudson River, which can be a major renting point for potential tenants seeking attractive living environments. Development Potential: The presence of at least six other new development sites in the area underscores Yonkers' growth and the attractiveness of investing in this location. Don't miss your chance. Building and site plans available to view.

Additional Information

Acres
0.27
Water
Public
Sewer
Public Sewer

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Listing Agent: Jeffrey Landsman (JLandsman@houlihanlawrence.com) from Listing Office: Houlihan Lawrence Inc..

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