Property Description
National Multifamily is pleased to present 56-58 Oak Street, a 6-unit multifamily property located in Port Chester, NY. This is the first time the property has been offered for sale in 44 years. The sale represents a great value-add deal located just outside of Downtown Port Chester that is undergoing a residential development boom. The building is not subject to any current rent regulations in New York.
The property is comprised of 6 two-bedroom units in one 3-story, stucco walk-up totaling 4,212 rentable square feet and estimated to have been built in 1900 via city records. The property sits on a 0.12-acre lot and has a backyard that is not accessible from the street. There is no off-street parking at the building. There is an empty walk-in attic as the roof is primarily a pitched asphalt shingle with a small flat section at the center of the property. The tenants pay for heat and hot water through individual gas systems in the basement. The landlord is only responsible the common electric and the water for utilities.
Each two bedroom is designed with a kitchen and a small bathroom in the center of the unit, two small bedrooms in the rear of the building, and a family room in front of the building.