$ 839,000
-
$839,000
Price -
6
Bed -
3
Bath -
0
SqFt
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About the Listing ERLT01 - 196752
Prime Mixed-Use Investment Opportunity in the Heart of Port Chester This well-located mixed-use building 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. 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 or wellness space, service-based businesses, catering operations, or personal services. Additionally, there is potential to convert the space to residential use (subject to approvals), offering even greater flexibility and long-term value. 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.
Listing Highlights
Status
Active
Days on Site
13
Property Type
Multi-Family
MLS ®
1001580
Year Built
1900
Total Square Footage
0
Lot/Acreage
0.04
County
Westchester County
School District
Port Chester-Rye
Elementary School
Thomas A Edison School
Middle School
Port Chester Middle School
High School
Port Chester Senior High School
Interior Details
- Bedrooms: 6
- Bathrooms: 3 Full
- Appliances:
- Air Cond: Central Air,Wall/Window Unit(s)
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished,Full,Walk-Out Access
- Other: Entrance Foyer
- Water: Public
Exterior Details
- Lot Description: No Waterfront
- Garage Capacity: N/A
- Roof:
- Others: Renovated
- Sewer: Public Sewer
Financial Details
- Tax Amount: $18,820
- Taxes w/Assessments: N/A
- Tax/Property ID: 4801-136-000-00063-002-0067-0000000
- Tax Year: N/A
Payment Calculator
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Questions About..
140 Terrace Ave Port Chester, NY 10573
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