926 Lester Ave

Mamaroneck NY 10543

2910 sq. ft.

5092 sq. ft.

Single-Family

Currently for sale - view listing

Overview

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 2-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 in-unit laundry, 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 2-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/month — $69,600 annually — with long-term tenants in place (approximately 20 years) at below-market rents, providing immediate, reliable cash flow with clear room to grow. At the $975,000 asking price, it produces a 4.80% 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 & 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.

Features

6 bedrooms

3 bathrooms

1 carspace

1 garage space

2910 sq. ft. floor area

5092 sq. ft. lot size

Single-Family

Property history for 926 Lester Ave

2017

Sold

$561,000

09 Jan 2017 by Kathleen Spadaro, of Spadaro Real Estate, Ltd.

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