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Luxury Fleetwood Three-Family Home

243 Summit Ave, Mount Vernon, NY 10552

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For Sale

$1,195,000

Rare Mediterranean Revival triplex with income potential in Fleetwood.

Type:Investment

Property size:

5,000 SF

Price / SF:

$239/SF

HighLights

Rare luxury three‑family home in Fleetwood, presenting as a grand single‑family estate.
Exceptional income potential from two additional apartments with private entrances.
Approximately 5,000 sq ft of living space with extraordinary architectural detail.
Primary residence features 3 bedrooms and 3 bathrooms, designed as a private villa.
Includes a rare 3‑car garage and a beautiful backyard.
Ideal for owner‑occupants seeking to live virtually rent‑free or investors seeking a premier income‑producing asset.

We can help!

Listing Contact

Arya Rabinovits

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For Sale

$1,195,000

Rare Mediterranean Revival triplex with income potential in Fleetwood.

Type:Investment

Property size:

5,000 SF

Price / SF:

$239/SF

Added:: Apr 24, 2026
Days on Market:: 53
Last Refresh:: Apr 24 at 5:44 pm

Property Features for 243 Summit Ave

General Information

Standard status: Active
Size: 5,000 SF
Property subtype: Investment

Building Details

Year Built: 1929

We can help!

Listing Contact

Arya Rabinovits

Listing agent Arya Rabinovits

Listing office

Listing date Apr 24, 2026

Source Elliman

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 Arya Rabinovits

HighLights

Rare luxury three‑family home in Fleetwood, presenting as a grand single‑family estate.
Exceptional income potential from two additional apartments with private entrances.
Approximately 5,000 sq ft of living space with extraordinary architectural detail.
Primary residence features 3 bedrooms and 3 bathrooms, designed as a private villa.
Includes a rare 3‑car garage and a beautiful backyard.
Ideal for owner‑occupants seeking to live virtually rent‑free or investors seeking a premier income‑producing asset.

Overview

Located in Fleetwood, this Mediterranean/Spanish Revival residence offers approximately 5,000 square feet and features architectural details such as soaring ceilings, arched doorways, hand-crafted woodwork, dramatic fireplaces, and herringbone floors. The primary residence includes 3 bedrooms and 3 bathrooms. Two additional apartments each offer renovated kitchens, spacious living and dining areas, 2 bedrooms, and 1 bathroom, all with private entrances. A large basement provides possibilities, complemented by a backyard and a 3-car garage. This property is suitable for owner-occupants seeking to live virtually rent-free or investors looking for an income-producing asset.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$148.8k	$29.76
− Vacancy	−$9.7k	−$1.93
EGI	$139.1k	$27.83
− OpEx	−$41.7k	−$8.35
NOI	$97.4k	$19.48

5,000 SF · lease $29.76/SF/yr · vacancy 6.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$1.39M

$1.22M – $1.62M (±1% cap)

NOI $97,390 @ 7.0% cap · market cap 8.15%

Second Best

Apartment 5plus

$1.23M

$1.07M – $1.43M (±1% cap)

NOI $85,759 @ 7.0% cap · market cap 7.18%

Theoretical Best

Retail

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,722 @ 7.0% cap · market cap 8.85%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

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Local Demand

City: Mount Vernon
County: Westchester
State: New York
Longitude: -73.8288686
Latitude: 40.9197419

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For sale
Triplexes
NY
Mount Vernon
10552
243 Summit Ave

What type of property is this?

Triplex - Rare Mediterranean Revival triplex with income potential in Fleetwood.

Where is this triplex located?

The property is located at 243 Summit Ave Mount Vernon, NY.

What is the asking price?

The asking price for this property is $1,195,000.

What are key features of this property?

This property features: Rare luxury three‑family home in Fleetwood, presenting as a grand single‑family estate.; Exceptional income potential from two additional apartments with private entrances.; Approximately 5,000 sq ft of living space with extraordinary architectural detail.