58 Bruce AveYonkers, NY 10705

Property Details for 58 Bruce Ave

Year built

1925

Lot size

0.06 AC

Property size (Sq ft)

11,870 SF

Property type

Commercial real estate

Description

This exceptional mixed-use property in Yonkers, NY, presents a compelling investment opportunity. Situated on a 0.06-acre corner lot at 58 Bruce Ave, this five-story brick building boasts a total of 15 units: 14 apartments and one ground-level retail storefront. The apartment mix includes eight spacious two-bedroom units (850 sq ft each) and six one-bedroom units (550 sq ft each). The building is a walk-up with a small lobby and no elevator. Significant recent improvements include a new 50-year roof, a new gas and oil boiler, and two new hot water heaters. The retail storefront is currently rented, though not renovated. Of the apartments, seven have been renovated (four are currently rented, three are vacant), two are unrenovated (one rented, one vacant), and five are currently under construction and vacant. The legally verified 2024 allowable rent under the DHCR is $27,888 per month for the apartments, plus an additional $12,000 annually for the retail space, totaling $346,656 annually. Each apartment has separate gas and electric utilities

Location Insight

City

Yonkers

County

Westchester County

State

New York

Latitude

40.9157

Longitude

-73.8956

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