41 Ellis Place, Ossining, NY 10562

Property Description

Legal 2-family opportunity in the heart of Ossining offering exceptional value, versatility, and upside potential. Priced at $550,000, this spacious property features a 5-bedroom, 3 full bath layout plus a separate studio apartment with its own private entrance—ideal for investors or owner-occupants looking to generate rental income. Set on a 7,405 sq ft lot, the home offers approximately 2,276 sq ft of living space with classic architectural charm including a mansard-style roof, covered front porch, and original details throughout. The property features multiple living areas, generous room sizes, and flexible layout options to accommodate extended living or rental configurations. Interior spaces offer a blend of character and opportunity. Bright rooms with hardwood floors, large windows, and high ceilings provide great natural light. Kitchens and baths are functional with room for updates, making this a strong value-add opportunity. Separate living quarters allow for privacy between units, enhancing rental appeal. The exterior offers a large private driveway with ample off-street parking, a rare find in this area, along with a spacious backyard and patio area—perfect for outdoor use, entertaining, or future improvements. A detached structure and additional outdoor space provide even more potential. Located on a quiet residential street, the property is just minutes from downtown Ossining, shops, restaurants, parks, and the Hudson River waterfront. Commuters will appreciate easy access to Metro-North, offering a convenient commute to NYC. The area continues to see strong demand due to proximity to major employment hubs including White Plains, Tarrytown, and Stamford. With comparable multi-family properties in Ossining selling significantly higher, this property presents a compelling opportunity to build equity and maximize returns. Whether you are looking to invest, renovate, or live in one unit while renting the other, this is a property with strong income potential and long-term growth. A rare chance to own a legal 2-family with a separate studio in a sought-after Westchester location.