6-Unit Apartment
For Sale
$1,100,000
251-253 S Fifth Avenue, Mount Vernon, NY 10550
Rent-stabilized multifamily property with recent exterior upgrades and updated major building systems.
Property Size5,890 SF
Days on Market121
Property Features for 251-253 S Fifth Avenue
General Information
Standard status
Active
Size
5,890 SF
Property subtype
Multifamily
Building Details
Building Size
5,890 SF
Year Built
1907
Listing Agency:
Triforce Commercial RE LLC
Listed By:
Jason Horowitz · License #NY #10491207540
(845) 323-9177
Source:
Triforcecre
Added: Jun 25
Changed: Oct 4
Last Checked: Oct 20 at 5:54PM
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 Triforce Commercial RE LLC
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Investment Insights
Based on property information with market context.
Located at 251-253 S Fifth Avenue in Mount Vernon, this 6-unit apartment building offers a rent-stabilized configuration with four three-bedroom apartments and two one-bedroom apartments. Two units are occupied by an onsite service person, providing an established on-site maintenance presence.
Recent capital work includes a new fence, sidewalk repairs, and siding repairs completed within the past year. The building also features a boiler installed in 2022 and a roof replaced between 2021 and 2022. Transportation access includes Metro-North trains, multiple bus lines, the Cross County Parkway, and the Bronx River Parkway, connecting the property with New York City and surrounding areas.
Recent capital work includes a new fence, sidewalk repairs, and siding repairs completed within the past year. The building also features a boiler installed in 2022 and a roof replaced between 2021 and 2022. Transportation access includes Metro-North trains, multiple bus lines, the Cross County Parkway, and the Bronx River Parkway, connecting the property with New York City and surrounding areas.
Key Highlights
- 6‑unit rent‑stabilized apartment building
- Unit mix includes four three‑bedroom units and two one‑bedroom units
- Two units occupied by an onsite service person
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,024
Cap Rate
9.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,020,480
$2.0M
Cap Rate 7%
$1,443,200
$1.4M
Cap Rate 9%
$1,122,489
$1.1M
Market Conditions
NOI Build-Up for 5,890 SF
Gross rent
$194.4K $33.00/SF
− Vacancy
−$10.7K −$1.82/SF
EGI
$183.7K $31.19/SF
− OpEx
−$82.7K −$14.03/SF
NOI
$101.0K $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%
$2,020,480
Cap Rate 7%
$1,443,200
Cap Rate 9%
$1,122,489
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $101,024 @ 7.0% cap · market cap 9.18%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.78M
$1.56M – $2.08M
NOI $124,541 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
2,858
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Rent-stabilized multifamily property with recent exterior upgrades and updated major building systems.
Where is this apartment building located?
The property is located at 251-253 S Fifth Avenue Mount Vernon, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 6‑unit rent‑stabilized apartment building; Unit mix includes four three‑bedroom units and two one‑bedroom units; Two units occupied by an onsite service person
