Courtyard Manor 210-230 Pelham Rd 5 Unit Apartment Building $1,545,635 CAD ($309,127 CAD/Unit) 10.65% Cap Rate New Rochelle, NY 10805

For breathtaking views of New Rochelle Harbor and beautifully appointed living spaces, look no further than Courtyard Manor. 210-230 Pelham Road offers an exclusive investment opportunity in the waterfront town of New Rochelle, New York. The five, vacant free market apartments are all fitted with one bedroom. This luxury complex comes fitted with many amenities to ensure maximum rental appeal. Special features include a state-of-the-art fitness center, modern access controls and video intercom systems, renovated hallways and common areas, co-working spaces for remote work, community room for social gatherings and events, and a renovated garage with convenient parking. This six-story building houses 288 condominium units, offering residents a blend of suburban tranquility and urban convenience. Set against the backdrop of Long Island Sound, Courtyard Manor provides a serene living environment while maintaining easy access to the vibrant New Rochelle community and nearby New York City.

The condos present investors with the perfect opportunity right outside of the city. There is an estimated 11% pro forma cap rate available which is an enticing offer for those looking to add to their portfolio. Additionally, there is no board approval required in the purchase so each unit is able to rent freely without co-op board restrictions. The units can be sold individually allowing for a long-term exit strategy. The landlord is also completely hands-off as all utilities are handled by the tenant.

Courtyard Manor offers residents a beautiful coastal setting with access to urban amenities. Situated in the Isle of San Souci neighborhood, locals enjoy the proximity to the Long Island Sound as well as all the outdoor recreational activities. There are many green spaces close by such as Davenport Park and Glen Island Park both of which are under a mile away. Directly across the sound are coveted clubs including Imperial Yacht Club., VIP County Clue, Greentree Country Club, and Castaways Yacht Club. Retail, restaurants, and conveniences are all within reach with Foodtown of New Rochelle, Pizza Centre, Subway, Sandwich King Burgers Steaks & Shakes, and others within walking distance. Access to necessities is also a breeze with a quick drive to Costco, LA Fitness, The Home Depot, ShopRite, Marshalls, and Home Goods Isle of San Souci strikes a balance between suburban tranquility and urban convenience, making it an attractive location for a diverse range of residents. Interstate 95 is minutes from Courtyard Manor allowing residents a speedy commute to New York City.