Renovated Three-Unit Victorian
For Sale
$699,000
124 Union Avenue, Mount Vernon, NY 10550
Residential Income, Mount Vernon, NY
Property Size2,420 SF
Lot Size0.10 Acres
Price / SF$288.84
Days on Market10
Property Features for 124 Union Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Basement, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 2
Patio and Porch features
Porch
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, Entrance Foyer, Pantry
Basement
Partially Finished, Full
Elementary school
Edward Williams
Middle school
Benjamin Turner Middle School
High school
Mt Vernon High School
Elementary school district
Mount Vernon
Middle school district
Mount Vernon
High school district
Mount Vernon
Standard status
Active
APN
0800-165-079-03125-000-0008
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
19264
Utilities
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
laundry
Building Details
Year built
1900
Number of units
3
Flooring type
Vinyl, Tile, Hardwood, Carpet
Building materials
Vinyl Siding
Architectural style
Victorian
Listing Agency:
Serhant LLC
(646) 480-7665
Listed By:
Jerges Santana
(646) 630-6908
Added: Sep 1
Changed: Sep 8
Last Checked: Sep 10 at 12:06PM
MLS# 1046388
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 legal triplex in Mount Vernon provides approximately 2,420 square feet across three levels, with a two-bedroom and office arrangement on the first floor, a one-bedroom plus office on the second, and a one-bedroom residence on the third. Improvements include a renovated first floor, refreshed second-floor kitchen, updated third-floor bath, electrical service approximately three years old, and a roof approximately eight years old. Interior details include shaker cabinetry, tile backsplashes, gas ranges, crown molding, cast-iron radiators, and hardwood or wood-style flooring. The property also has a partially finished basement with laundry, utility areas, and additional rooms, along with a large side yard and porch.
All three units are on month-to-month occupancy. Four electric meters and three gas meters serve the building. Public water and public sewer are in place, with oil heat and wall or window cooling units. The 0.1046-acre property is near Metro-North service to Grand Central, the Wakefield–241st Street 2 train, Cross County Parkway, and Hutchinson River Parkway.
All three units are on month-to-month occupancy. Four electric meters and three gas meters serve the building. Public water and public sewer are in place, with oil heat and wall or window cooling units. The 0.1046-acre property is near Metro-North service to Grand Central, the Wakefield–241st Street 2 train, Cross County Parkway, and Hutchinson River Parkway.
Key Highlights
- Legal three‑family property with all three units on month‑to‑month occupancy
- Approximately 2,420 square feet across three levels with three distinct unit layouts
- Full first‑floor renovation, updated second‑floor kitchen, and renovated third‑floor bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,137
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$942,740
$942.7K
Cap Rate 7%
$673,386
$673.4K
Cap Rate 9%
$523,744
$523.7K
Market Conditions
NOI Build-Up for 2,420 SF
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.
Gross rent
$72.0K $29.76/SF
− Vacancy
−$4.7K −$1.93/SF
EGI
$67.3K $27.83/SF
− OpEx
−$20.2K −$8.35/SF
NOI
$47.1K $19.48/SF
Area
Westchester County, NY
Vacancy
6.50%
Lease Rate
$29.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$942,740
Cap Rate 7%
$673,386
Cap Rate 9%
$523,744
Alternative Uses
Best Use
Multifamily LT 5
$673.4K
$589.2K – $785.6K
NOI $47,137 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$593.0K
$518.8K – $691.8K
NOI $41,507 @ 7.0% cap · market cap 5.94%
Theoretical Best
Retail
$731.0K
$639.6K – $852.8K
NOI $51,170 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,885
Businesses Nearby
Explore this area
Business Placement
Demographics for 10550, NY
41,137
Population
16,865
Households
2.4
Avg Household Size
38
Median Age
23%
College-Educated
82%
High-School Grad
2.0 sq mi
ZIP Area
20,569
Density / Sq Mi
$56,903
Median Household Income
$43,733
Median Earnings
$1,451
Median Rent
$482,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residences, flexible layouts, updated interiors, and a partially finished basement support owner-occupant or investment use.
Where is this triplex located?
The property is located at 124 Union Avenue Mount Vernon, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Legal three‑family property with all three units on month‑to‑month occupancy; Approximately 2,420 square feet across three levels with three distinct unit layouts; Full first‑floor renovation, updated second‑floor kitchen, and renovated third‑floor bath
