Six-Unit Waterfront Townhouse
For Sale
$4,300,000
240-250 Pelham Road, New Rochelle, NY 10805
Each residence offers a multi-level layout, garage, and two additional parking spaces.
Property Size13,492 SF
Price / SF$318.71
Days on Market108
Property Features for 240-250 Pelham Road
General Information
Standard status
Active
Size
13,492 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
6 x 3BR/2.5BA
Multifamily Units
6
Parking per Unit
3
Taxes and HOA fees
Annual Taxes
$72,432
Building Details
Building Size
13,492 SF
Year Built
2006
Buildings
1
Stories
4
Units
6
Listing Agency:
Gillian Stewart Real Estate
(845) 855-5092
Listed By:
Gillian Stewart
(845) 656-4449
Source:
Gillianstewart
Added: Jul 9
Changed: Oct 23
Last Checked: Oct 23 at 5:21PM
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 Gillian Stewart Real Estate
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Investment Insights
Based on property information with market context.
This six-residence apartment property is configured as four-level townhomes, each with three bedrooms, two-and-a-half bathrooms, and approximately 2,700 square feet. The homes include garages, walkout basements with laundry and storage areas, and finished or unfinished walk-up attics. Residents have views of Long Island Sound, and tenants pay their own utilities.
Recent work includes new composite patios and Trex balcony decking, replacement garage doors and operating components, and refreshed exterior trim and paint. Five units have heating and cooling systems that are two years old; water heaters in the complex were replaced within the past three years. Each residence also has two additional parking spaces.
The property is within walking distance of Metro-North, schools, and a college. Restaurants and shops are nearby, with access to I-95 and the Hutchinson River Parkway a short drive away. Beach rights at Glen Island and Hudson Park are noted.
Recent work includes new composite patios and Trex balcony decking, replacement garage doors and operating components, and refreshed exterior trim and paint. Five units have heating and cooling systems that are two years old; water heaters in the complex were replaced within the past three years. Each residence also has two additional parking spaces.
The property is within walking distance of Metro-North, schools, and a college. Restaurants and shops are nearby, with access to I-95 and the Hutchinson River Parkway a short drive away. Beach rights at Glen Island and Hudson Park are noted.
Key Highlights
- Six townhome residences, approximately 2,700 square feet per unit
- Four levels, with 3 bedrooms and 2 1/2 bathrooms in each residence
- Waterfront setting with views of Long Island Sound
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$231,411
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,628,220
$4.6M
Cap Rate 7%
$3,305,871
$3.3M
Cap Rate 9%
$2,571,233
$2.6M
Market Conditions
NOI Build-Up for 13,492 SF
Gross rent
$445.2K $33.00/SF
− Vacancy
−$24.5K −$1.82/SF
EGI
$420.7K $31.19/SF
− OpEx
−$189.3K −$14.03/SF
NOI
$231.4K $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%
$4,628,220
Cap Rate 7%
$3,305,871
Cap Rate 9%
$2,571,233
Alternative Uses
Best Use
Apartment 5plus
$3.31M
$2.89M – $3.86M
NOI $231,411 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$4.08M
$3.57M – $4.75M
NOI $285,281 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
Explore this area
Business Placement
Demographics for 10805, NY
18,479
Population
8,731
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
82%
High-School Grad
1.7 sq mi
ZIP Area
10,870
Density / Sq Mi
$89,964
Median Household Income
$53,513
Median Earnings
$2,018
Median Rent
$338,100
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 - Each residence offers a multi-level layout, garage, and two additional parking spaces.
Where is this apartment building located?
The property is located at 240-250 Pelham Road New Rochelle, NY.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Six townhome residences, approximately 2,700 square feet per unit; Four levels, with 3 bedrooms and 2 1/2 bathrooms in each residence; Waterfront setting with views of Long Island Sound
