Three-Unit Multifamily
New
For Sale
$845,000
262-264 Union Avenue, Mount Vernon, NY 10550
Three residential units are arranged across separate sides, with basements and an attached two-car garage.
Property Size3,407 SF
Price / SF$248.02
Days on Market3
Property Features for 262-264 Union Avenue
General Information
Standard status
Active
Size
3,407 SF
Total Parking Spaces
2
Property subtype
Triplex
Property Condition
Severity
Repairs Needed
Evidence
Needs Updating!
Units
Unit Mix
1 x 5BR/1.5BA, 1 x 1BR, 1 x 3BR duplex
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$15,812
Building Details
Building Size
3,407 SF
Year Built
1941
Listing Agency:
Clarke Realty
Listed By:
Doris Clarke
(914) 837-1084
Source:
Shawmetro
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 20 at 8:16PM
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 Clarke Realty
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Investment Insights
Based on property information with market context.
This 1941 multifamily property contains three apartments across two sides. One side has a five-bedroom apartment with one and a half bathrooms and a separate basement. The other side includes a first-floor one-bedroom apartment and a three-bedroom duplex spanning the second and third floors. Each side has its own basement and heating unit, and the basements are partially finished. An attached two-car garage is also part of the property.
The apartments are occupied by tenants, and the property is being sold as-is. No leases are in place for the occupied apartments.
The apartments are occupied by tenants, and the property is being sold as-is. No leases are in place for the occupied apartments.
Key Highlights
- Three apartments, including a five‑bedroom unit, a one‑bedroom unit, and a three‑bedroom duplex
- One apartment has 1 1/2 baths and a separate basement
- Each side has its own heating unit and partially finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,361
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,327,220
$1.3M
Cap Rate 7%
$948,014
$948.0K
Cap Rate 9%
$737,344
$737.3K
Market Conditions
NOI Build-Up for 3,407 SF
Gross rent
$101.4K $29.76/SF
− Vacancy
−$6.6K −$1.93/SF
EGI
$94.8K $27.83/SF
− OpEx
−$28.4K −$8.35/SF
NOI
$66.4K $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 Rate 5%
$1,327,220
Cap Rate 7%
$948,014
Cap Rate 9%
$737,344
Alternative Uses
Best Use
Multifamily LT 5
$948.0K
$829.5K – $1.11M
NOI $66,361 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$834.8K
$730.5K – $973.9K
NOI $58,436 @ 7.0% cap · market cap 6.92%
Theoretical Best
Retail
$1.03M
$900.5K – $1.20M
NOI $72,039 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,870
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units are arranged across separate sides, with basements and an attached two-car garage.
Where is this triplex located?
The property is located at 262-264 Union Avenue Mount Vernon, NY.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: Three apartments, including a five‑bedroom unit, a one‑bedroom unit, and a three‑bedroom duplex; One apartment has 1 1/2 baths and a separate basement; Each side has its own heating unit and partially finished basement
