664-666 N Division Street, Peekskill, NY 10566

Property Description

Positioned for both immediate income and long-term upside, this charming quadruplex in Peekskill offers a rare blend of classic character, modern upgrades, and strategic location—an ideal opportunity for investors seeking strong returns in a growing Hudson Valley market. Showcasing subtle Colonial Revival architecture influences, the property presents timeless curb appeal with its symmetrical façade, warm shutters, and inviting residential presence. Behind that charm lies a highly functional, income-producing asset configured as four distinct units: one spacious 3-bedroom apartment, two 2-bedroom units, and one 1-bedroom apartment—appealing to a broad tenant base and maximizing rental flexibility. From a performance standpoint, the property is already partially stabilized with two responsible, month-to-month tenants in place, while two vacant units create immediate value-add potential. One of the 2-bedroom units has been fully renovated and is truly move-in ready—perfect for quickly securing market-rate rent or even an owner-occupant strategy. The remaining vacant unit offers an opportunity to further increase value through light improvements or repositioning. Each apartment benefits from separate electric meters, private entrances, and dedicated parking, enhancing tenant independence and simplifying management. Significant capital improvements have already been completed, including a brand-new heating system and oil tank, reducing near-term maintenance concerns and protecting your bottom line. Beyond the building itself, the outdoor space sets this property apart. A generous backyard invites lifestyle-driven tenants with a flagstone patio and built-in stone BBQ area—a rare amenity that elevates tenant experience and retention, while adding a unique marketing edge in a competitive rental market. Location is where this investment truly shines. Just a 5-minute drive or 28-minute walk to the Peekskill Train Station and waterfront, residents enjoy a convenient commute to New York City while still embracing the charm of the Hudson Valley. Additionally, a 10-minute walk brings you to downtown Peekskill’s vibrant mix of restaurants, coffee shops, and local retail—an increasingly desirable lifestyle hub that continues to fuel rental demand. This is more than just a property—it’s a strategic investment in a high-demand, transit-oriented market with multiple income streams, built-in upside, and lifestyle appeal that attracts quality tenants. Whether you’re expanding your portfolio or seeking a smart entry into multifamily investing in Westchester County, this quadruplex delivers the fundamentals investors look for: cash flow, flexibility, and future growth potential. FLOORPLANS AVAILABLE UPON REQUEST