926 Lester Avenue,Mamaroneck, NY 10543
Mamaroneck, NY 10543
Description
Exceptional investment opportunity in the heart of Mamaroneck. Set on a quiet dead end street within walking distance of the Metro North train station, this legal two family home offers approximately 2,900 square feet of living space and delivers steady income with real upside. Both units offer three spacious bedrooms. The first floor unit features 1.5 baths, a fireplaced living room, a large eat in kitchen with laundry in the unit, an enclosed porch, and access to the deck and yard. The second floor unit offers 1 bath, a private separate side entrance, and generous living space. A full basement and built in two car garage round out the package. Beyond the primary living space, an additional approximately 296 square feet offers strong potential to be finished and utilized for added income, an opportunity to expand the property's value and returns over time. The property currently generates $5,800 per month, or $69,600 annually, with longtime tenants in place (approximately 20 years) at below market rents, providing immediate, reliable cash flow with clear room to grow. At the $949,000 asking price, it produces a 4.93% cap rate on $46,800 of net operating income, with additional value to be unlocked through future rent adjustments and property improvements. An unbeatable commuter location. Walk to the train, downtown restaurants, shopping, and Harbor Island Park and Beach, with quick, convenient access to I-95. Collect rent as a turnkey investment, or occupy one unit and let the other help pay the mortgage. A rare offering in "the friendly village" of Mamaroneck.
Details
| MLS # | 1042676 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1960 |
| Days On Site | 7 |
| Listing Provided By | Compass Greater NY LLC | Lindsay Rothman |
Features
| SQ Feet | 2,910 |
|---|---|
| Basement | Y |
| Units | 2 |
| Acreage | 0.12 |
Interior
| Cooling | Wall/Window Unit(s) |
|---|---|
| Heating | Baseboard |
| Interior Features | First Floor Bedroom, First Floor Full Bath, Master Downstairs, Storage, Washer/Dryer Hookup |
Exterior
| Construction Materials | Frame |
|---|
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Attached |
Utilities
| Utilities | Trash Collection Public |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Assessed Value | 784000 |
| Tax Annual Amount | 17185.53 |
Area Information
| State | NY |
|---|---|
| County | Westchester County |
| City | Mamaroneck |
| Zip Code | 10543 |
| School District | Mamaroneck High School |
| Elementary School | Mamaroneck Avenue |
| High School | Mamaroneck High School |
| Listing VS Median (in 10543) | |
Price: $949,000 low | high Med: $317,500 sqft: 2,910 low | high Med: 900 $ / sqft: $326 low | high Med: $353 On site: 7 low | high Med: 79 | |
Market Activity 10543
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Learn More About This Property
| State | NY |
|---|---|
| County | Westchester County |
| City | Mamaroneck |
| Zip Code | 10543 |
| School District | Mamaroneck High School |
| Elementary School | Mamaroneck Avenue |
| High School | Mamaroneck High School |
| Listing VS Median (in 10543) | |
Price: $949,000 low | high Med: $317,500 sqft: 2,910 low | high Med: 900 $ / sqft: $326 low | high Med: $353 On site: 7 low | high Med: 79 | |
