Property Description
National Multifamily is pleased to present 406 Warburton Avenue, an 8-unit fully ETPA multifamily property located in the desirable village of Hastings-on-Hudson, NY. The property is approximately 0.4 miles from the Hastings-on-Hudson Metro-North stop with service into Grand Central in Midtown Manhattan in under 40 minutes.
The building contains 6,828 rentable square feet across 4 stories and was built in 1900. The property is situated on a deep 0.12-acre through-lot extending from Warburton Avenue back to Marble Terrace. The building is comprised of eight two-bedroom residential units that are all rent regulated under ETPA. The landlord pays for the heat and hot water through two gas boilers.
The property offers consistent and predictable cash flow with limited turnover due to the long-term tenancy at the property. In addition to the stable cash flow, the Westchester County Rent Guidelines Board approved rent adjustments of 3.5% for one-year leases and 4.5% for two-year leases for rent stabilized apartments, effective October 1, 2026. The approved increases represent a departure from the lower adjustments adopted in recent years.
