926 Lester Avenue, Mamaroneck, NY, 10543
$949,000
activeLot Size
5,092 sqft
Year Built
1960
Type
Commercial
Estimate. Actual payment depends on credit, lender, taxes, and insurance.
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.
Listed by Lindsay Rothman, Compass Greater NY LLC
Listings courtesy of OneKey® MLS as distributed by MLS GRIDBased on information submitted to the MLS GRID as of Aug 13, 2026, 7:23 AM UTC (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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