39 Terrace AVE Ossining, NY 10562
8 Beds
4 Baths
8,712 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID KEY845529
Style Colonial
Bedrooms 8
Full Baths 4
Originating Board onekey2
Rental Info No
Year Built 1926
Annual Tax Amount $15,722
Lot Size 8,712 Sqft
Acres 0.2
Property Sub-Type Triplex
Property Description
**Unit 1 – First Floor (3BR/1BA):**
This spacious 3-bedroom apartment occupies the entire first floor of the main house (excluding entrance/stairs for unit#2) and features dual entry points—from the charming front porch or the rear entry through a screened-in porch/storage area. The layout includes an eat-in kitchen, cozy living room, and three well-proportioned bedrooms. Currently occupied by a Section 8 tenant contributing $2,250 and an additional $150 directly, this tenant has expressed a willingness to increase total rent to $2,750/month, with the expectation that Section 8 will approve the voucher increase.
**Unit 2 – Second Floor + Attic (4BR/2BA):**
The second and third floors combine into a larger 4-bedroom, 2-bath duplex, offering generous living space, a modern eat-in kitchen, and a primary suite occupying the finished attic level. Currently leased for $2,700/month, this unit is under market value and is expected to command up to $4,000/month based on current comps.
**Unit 3 – Detached Rear Cottage (1BR/1BA):**
Tucked privately at the back of the lot is a charming standalone cottage** with its own driveway, entryway, and utilities. The cottage tenant pays all utilities directly and is currently renting at $1,750/month* with an offer to increase to $2,000/month to remain in place.
**Utilities & Expenses:**
- Oil Heat & Water** for the main house are paid by the landlord.
- Tenants pay electric and gas separately, with three electric and gas meters in place.
- The cottage is fully independent with all utility responsibilities handled by the tenant.
Occupancy Flexibility:
All three tenants have been issued 90-day notice letters, and the property can be delivered fully vacant at closing. However, each tenant has expressed an interest in staying if the new owner prefers a turnkey investment with stable, long-term renters.
Additional Highlights:
- Off-street parking for multiple vehicles
- Large Unfinished basement for storage &/OR additional opportunity
- Located near public transportation, shops, and schools
- Zoned and configured as a legal 3-family home
- Projected pro forma rents of $8,750/month-$9,500 when brought to market value
Whether you're looking to owner-occupy, hold as a high-yield rental, or reposition for higher income, 39 Terrace Avenue presents a rare opportunity to acquire a fully detached triplex in a desirable Westchester County location.
Location
State NY
County Westchester County
Rooms
Basement Unfinished
Interior
Interior Features First Floor Bedroom, First Floor Full Bath, Ceiling Fan(s), Entrance Foyer, Galley Type Kitchen, Granite Counters, High Speed Internet, In-Law Floorplan, Original Details, Storage
Heating Hot Water, Oil
Cooling None
Fireplace No
Exterior
Parking Features Driveway
Fence Back Yard
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Total Parking Spaces 10
Garage false
Private Pool No
Building
Lot Description Back Yard, Near Public Transit, Near School, Near Shops
Sewer Public Sewer
Water Public
Structure Type Frame,Vinyl Siding
Schools
Middle Schools Anne M Dorner Middle School
High Schools Ossining High School
School District Ossining
Others
Senior Community No
Special Listing Condition None