DemetriosZias
MLS#977907
STATUSActive
PROPERTY TYPECommercial -
Property Description
Located in Yonkers (10705), this legal 12-unit rooming house offers investors a rare opportunity to acquire both the income-producing property and the established room-rental business. The property is fully operational and generates strong cash flow with upside potential.The building currently produces $168,000 in gross annual income with low operating expenses of approximately $35,500, resulting in a net operating income of $132,500. At the current asking price, the investment delivers an approximately 8% cap rate. In addition to the real estate, the rooming house business is included in the sale, allowing the buyer to step into a fully functioning rental operation from day one.The property also benefits from zoning in Yonkers that permits short-term rentals, providing investors the option to increase revenue through platforms such as Airbnb or other short-term rental models.A 7-car driveway parking lot is included, providing additional convenience and value for tenants and guests.This is an excellent opportunity for investors seeking stable income, strong cash flow, and future upside through short-term rental conversion or rent optimization. Owner is Licensed Real Estate Agent.
Property Features
Property Type: Commercial -
Basement: Full, Storage Space, Walk-Out Access
Basement: Yes
Cooling: Wall/Window Unit(s)
Heating: Hot Water, Natural Gas, Steam
Lot Size: 0.13 Acres
Stories: 3.0
Taxes: $8,700
Year Built: 1899
Feature Descriptions
Appliances: Freezer, Microwave, Refrigerator, Stainless Steel Appliance(s), Gas Water Heater
Building Area Total: 5109
Business Type: Hotel/Motel
Cap Rate: 8
Electric: 200+ Amp Service
Exterior: Vinyl Siding
Fencing: Vinyl
Flooring: Ceramic Tile, Laminate
Heating Zones: 1
On Market Date: 2026-03-29
Parcel Number: 1800-001-000-00125-000-0039-40
Parking Features: Assigned, Driveway, Off Street, Parking Lot
Parking Total: 7
Rental Term: Monthly
Security: yes
Security Features: Fire Alarm, Fire Sprinkler System, Smoke Detector(s), Video Cameras
Seller Concession: Yes
Sewer: Public Sewer
Units: 12
Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Trash Collection Public, Water Connected
Water: Public
Listed By / Shown By
Listing By
Agency Name: Jason Mitchell Real Estate NY
Agency Contact: 833-471-3747
Shown By
Agent Name: Demetrios Zias
Agent Phone: (516) 754-8720
Agency Title: Coldwell Banker American Homes
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29 Saint Andrews Place | MLS# 977907
This commercial property located at 29 Saint Andrews Place, Yonkers, NY 10705 is currently listed for sale with an asking price of $1,649,000. Search Yonkers real estate on demetrioszias.cbamhomes.com today.