5-Unit Apartment Property with
For Sale
$1,399,000
124 Center Avenue, Mamaroneck, NY 10543
Two buildings offer varied apartment layouts and off-street parking for residents.
Property Size3,664 SF
Price / SF$381.82
Days on Market93
Property Features for 124 Center Avenue
General Information
Standard status
Active
Size
3,664 SF
Total Parking Spaces
6
Property subtype
Commercial
Zoning
281
Units
Unit Mix
1 x 4BR/1.5BA duplex, 2 x 2BR, 2 x 3BR
Multifamily Units
5
Additional Details
Gross Income
$135,000
Taxes and HOA fees
Annual Taxes
$25,900
Building Details
Building Size
3,664 SF
Year Built
1892
Buildings
2
Stories
2
Units
5
Listing Agency:
Spadaro Real Estate, Ltd.
(914) 698-1017
Listed By:
Lawrence Duignan
(914) 309-7786
Source:
Croninreale
Added: Jul 25
Changed: Oct 23
Last Checked: Oct 23 at 3:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Spadaro Real Estate, Ltd.
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Investment Insights
Based on property information with market context.
This five-unit apartment property comprises two buildings totaling 3,664 square feet. The 2,052-square-foot front building has three apartments: a four-bedroom duplex with 1.5 baths and two two-bedroom units. The 1,612-square-foot rear building contains two three-bedroom apartments. Both buildings date to 1892.
Each building has a gas boiler, with heat paid by the owner. Every apartment has its own electric hot-water heater, and tenants pay the electricity. Off-street tenant parking is provided. There are currently no written leases in place.
Each building has a gas boiler, with heat paid by the owner. Every apartment has its own electric hot-water heater, and tenants pay the electricity. Off-street tenant parking is provided. There are currently no written leases in place.
Key Highlights
- Five apartments across two buildings totaling 3,664 square feet
- Front building: 2,052 square feet with a four‑bedroom duplex and two two‑bedroom apartments
- Rear building: 1,612 square feet with two three‑bedroom apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,844
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,256,880
$1.3M
Cap Rate 7%
$897,771
$897.8K
Cap Rate 9%
$698,267
$698.3K
Market Conditions
NOI Build-Up for 3,664 SF
Gross rent
$120.9K $33.00/SF
− Vacancy
−$6.7K −$1.82/SF
EGI
$114.3K $31.19/SF
− OpEx
−$51.4K −$14.03/SF
NOI
$62.8K $17.15/SF
Area
Westchester County, NY
Vacancy
5.50%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,256,880
Cap Rate 7%
$897,771
Cap Rate 9%
$698,267
Alternative Uses
Best Use
Apartment 5plus
$897.8K
$785.6K – $1.05M
NOI $62,844 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.11M
$968.4K – $1.29M
NOI $77,473 @ 7.0% cap · market cap 5.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,788
Businesses Nearby
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Business Placement
Demographics for 10543, NY
21,296
Population
8,141
Households
2.6
Avg Household Size
41
Median Age
57%
College-Educated
89%
High-School Grad
4.3 sq mi
ZIP Area
4,953
Density / Sq Mi
$128,418
Median Household Income
$69,176
Median Earnings
$2,030
Median Rent
$710,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two buildings offer varied apartment layouts and off-street parking for residents.
Where is this apartment building located?
The property is located at 124 Center Avenue Mamaroneck, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Five apartments across two buildings totaling 3,664 square feet; Front building: 2,052 square feet with a four‑bedroom duplex and two two‑bedroom apartments; Rear building: 1,612 square feet with two three‑bedroom apartments
