Two-Building Five-Family
124 Center Avenue Mamaroneck, NY 10543
New
For Sale
$1,495,000
MULTI_FAMILY - Other - Mamaroneck, NY
Property Size3,664 SF
Lot Size0.11 Acres
Price / SF$408.02
Days on Market5
Property Features for 124 Center Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- 281
- Rooms
- Basement
- Parking
- 6
- Parking features
- Off Street, Driveway
- Basement
- Unfinished
- Standard status
- Active
- APN
- 3203-008-000-00023-000-0596
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 25900
Utilities
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating), Natural Gas
- Water source
- Public
Building Details
- Year built
- 1892
- Floors in Building
- 2
- Number of units
- 5
- Flooring type
- Combination
- Building materials
- Vinyl Siding
- Architectural style
- Other
Listing Agency:
Spadaro Real Estate, Ltd.
(914) 698-1017
Listed By:
Lawrence Duignan
(914) 309-7786
Added: Jul 21
Changed: Jul 25
Last Checked: Jul 25 at 2:06PM
MLS# 1011135
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering is a rare five-family investment opportunity consisting of two separate buildings. The front building includes three units, with a four-bedroom duplex featuring 1.5 baths and two additional two-bedroom apartments. The rear building includes two three-bedroom apartments. Each building is served by one gas boiler, with heat paid by the owner, while each apartment has a separate electric hot-water heater with electricity paid by the tenant.
The property provides off-street tenant parking. The buildings are located at 124 Center Avenue in Mamaroneck, within Westchester County, New York.
There are currently no written leases in place, providing flexibility for future rent adjustments subject to applicable laws and regulations.
The property provides off-street tenant parking. The buildings are located at 124 Center Avenue in Mamaroneck, within Westchester County, New York.
There are currently no written leases in place, providing flexibility for future rent adjustments subject to applicable laws and regulations.
Key Highlights
- Two‑building five‑family investment with off‑street tenant parking
- Front building: 2,052 SF with 3 units—one 4‑bedroom duplex (1.5 baths) plus two 2‑bedroom apartments
- Rear building: 1,612 SF with 2 units—two 3‑bedroom apartments
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $120.9k | $33.00 |
| − Vacancy | −$6.7k | −$1.82 |
| EGI | $114.3k | $31.19 |
| − OpEx | −$51.4k | −$14.03 |
| NOI | $62.8k | $17.15 |
3,664 SF · lease $33.00/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$897.8K
$785.6K – $1.05M
NOI $62,844 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.11M
$968.4K – $1.29M
NOI $77,473 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five-family property features two separate buildings with off-street tenant parking and individual apartment electric hot-water heaters.
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 $1,495,000.
What are key features of this property?
This property features: Two‑building five‑family investment with off‑street tenant parking; Front building: 2,052 SF with 3 units—one 4‑bedroom duplex (1.5 baths) plus two 2‑bedroom apartments; Rear building: 1,612 SF with 2 units—two 3‑bedroom apartments
