30 aka 32 Portland Place, Yonkers, NY, 10703

"TURN KEY 4-FAMILY - PROFIT ON PORTLAND” - Welcome to 30 Portland Place, an exceptional opportunity to own a fully rented four-family property in one of Yonkers' most sought-after neighborhoods, only 20 minutes from NYC. Offering a rare combination of strong rental income, low maintenance, and a prime location, this meticulously maintained building is perfect for both seasoned investors and owner-occupants looking to offset their mortgage with rental income. Spanning over 5,000 square feet, this expansive property features four spacious units, each boasting three bedrooms and one bath with generous 1,080-square-foot layouts that live like single-family homes. Thoughtfully renovated kitchens boast stainless steel appliances, open layouts, and granite countertops, providing modern comfort and timeless appeal. Apartments 2, 3, and 4 enjoy sun-drenched front sunrooms, adding an extra living space filled with natural light. The units have been consistently updated, with three of the four apartments featuring new vinyl kitchen flooring, and each residence offering both front and back egress for added safety. The property is fully rented, producing a strong gross rent roll of $141,900 per year, with room for further increases, making this an excellent long-term investment. 3 out of 4 tenants on leases until 2026. Unit 3 is currently on month to month. Most tenants have occupied for a handful of years. Beyond the interiors, tenants benefit from private, off-street parking in the detached 800-square-foot, four-car garage, as well as additional driveway space, a rare and highly desirable feature in this part of Yonkers. Shared laundry facilities are available in the basement, adding another layer of practicality. The building is separately metered for electricity, with four individual meters, while the landlord covers gas and water. With an impressive and extremely rare cap rate of nearly 8%, this investment offers a compelling return with low maintenance costs. This property has been meticulously maintained, with extensive capital improvements ensuring its long-term durability. In 2020, major exterior enhancements were completed, including siding repairs, a new roof on the garage, and the installation of a new side yard patio. In 2025, two garage doors were replaced, further enhancing the property's curb appeal. A new water main service was installed from the street in 2016, while a full renovation of Apartment 4 was completed in 2014, and units 1, 2, and 3 were upgraded in 2007. The common areas were refreshed in 2024 with new carpet and tile, and the driveway was repaved in 2023. Additional past improvements include electrical panel upgrades in 2013 and a new roof and siding on the main building in 2011, making this a truly turn-key investment with little to no deferred maintenance. Situated in Yonkers, a vibrant city experiencing a major renaissance, 30 Portland Place offers unbeatable convenience. Just minutes from Metro-North stations, residents enjoy a quick 30-minute commute to Grand Central Terminal, making this location ideal for NYC professionals. The surrounding neighborhood is rich with parks, waterfront dining, shopping, and top-rated schools, while major highways and public transit ensure easy access to the rest of Westchester County and New York City. Whether you're looking to expand your real estate portfolio or live in one unit while building wealth, this prime Yonkers investment property delivers on every level.

Listing courtesy of CORCORAN BAER & MCINTOSH 845-358-9440