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Single Family House for Sale in Port Chester, Rye Town, Westchester County, NY 10573 | Web ID: 1001580 | $719,000

140 Terrace Avenue , Port Chester , NY 10573

 
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Property Description

Owner Is Motivated And Has Authorized A Huge Price Reduction. Prime Mixed-use Investment Opportunity In The Heart Of Port Chester This Well-located Mixed-use Building Only 5 Minutes Away From Greenwich, Ct. Features Two Fully Occupied Residential Units Generating Strong, Consistent Rental Income, With Current Rents Below Market Value—providing Immediate Upside Potential Through Future Increases. The Property Also Includes A Highly Versatile Ground-floor Commercial Space Offering Additional Revenue. Formerly A Vibrant Italian Social Club Venue, The Space Is Currently Operated As A Rentable Venue For Private Parties, Meetings, And Small Events. It Produces Steady Supplemental Income And Represents A Valuable Built-in Revenue Stream For Investors Or Owner-users. Notably, Most Of The Bookings Have Been Generated Through Word-of-mouth Alone, With Little To No Formal Advertising. This Creates A Clear Opportunity For Growth—by Implementing Simple Marketing Strategies Such As Social Media Promotion Or Exterior Signage, A New Owner Could Significantly Increase Visibility, Bookings, And Overall Return On Investment. A Simple Sign Can Be Placed Outside With A Phone Number And Type Of Bookings Available. In Addition The Room Can Be Set Up In A Festive Mood And Encourage Possible Clients The Commercial Space Features A Large Open Floor Plan, Kitchen, And Half Bath—ideal For Events Or Easily Adaptable For A Wide Range Of Uses, Including Professional Office, Medical Space, Wellness Space Etc. Subject To Approvals. With Below-market Residential Rents, An Income-producing Commercial Component, And Multiple Value-add Opportunities Through Repositioning And Marketing, This Property Presents Substantial Upside And A Compelling Investment Opportunity.

Property Information

Location/Town Rye Town
Area/County Westchester County
Post Office/Postal City Port Chester
Prop. Type Single Family House for Sale
Style Colonial
Tax $18,820.00
Bedrooms 6
Total Baths 3
Full Baths 3
Year Built 1900
Basement Finished, Full, Walk-Out Access
Construction Shingle Siding, Stucco
Total Units 3
Lot SqFt 1,924
Cooling Central Air, Wall/Window Unit(s)
Heat Source Natural Gas
Util Incl Cable Connected, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Trash Collection Public, Water Connected
Days On Market 116
Parking Features None
Tax Assessed Value 528100
Units 3
School District Port Chester-Rye
Middle School Port Chester Middle School
Elementary School Thomas A Edison School
High School Port Chester Senior High Schoo
Features Entrance foyer
Listing information courtesy of: E Realty International Corp

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