Mount Vernon Multifamily Investment
For Sale
Contact for pricing
273 W Lincoln Ave, Mount Vernon, NY 10550
Well-maintained 7-unit building in high-demand rental market near NYC.
Property Size8,000 SF
Price / SF$197.50
Days on Market179
Property Features for 273 W Lincoln Ave
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Multifamily
Building Details
Year Built
1950
Stories
5
Units
7
Listing Agency:
ERA Insite Realty
Listed By:
Lou Budetti · License #NY 35BU0402478
Source:
Crexi
Added: Feb 24
Changed: Aug 8
Last Checked: Aug 8 at 6:40AM
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 ERA Insite Realty
Investment Insights
Based on property information with market context.
This well-maintained 7-unit multifamily building is located in Mount Vernon, Westchester County. The property is an income-producing asset that offers investors a combination of stable cash flow and long-term appreciation in a high-demand rental market. The location is just minutes from the Bronx and New York City. The asset presents value-add potential through rent optimization, unit upgrades, or operational efficiencies. It is suitable for both seasoned investors and those looking to expand their multifamily portfolio. The property is located near Metro-North stations, providing convenient access to Manhattan. The surrounding market is growing with continued redevelopment and infrastructure investment. The property size is 8000 square feet.
Key Highlights
- Income‑producing 7‑unit multifamily building
- Located in Mount Vernon, Westchester County, near the Bronx and NYC
- Convenient access to Manhattan via nearby Metro‑North stations
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
$137,214
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
8.68%
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%
$2,744,280
$2.7M
Cap Rate 7%
$1,960,200
$2.0M
Cap Rate 9%
$1,524,600
$1.5M
Market Conditions
NOI Build-Up for 8,000 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
$264.0K $33.00/SF
− Vacancy
−$14.5K −$1.82/SF
EGI
$249.5K $31.19/SF
− OpEx
−$112.3K −$14.03/SF
NOI
$137.2K $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 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%
$2,744,280
Cap Rate 7%
$1,960,200
Cap Rate 9%
$1,524,600
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,214 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.42M
$2.11M – $2.82M
NOI $169,156 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,173
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 7-unit building in high-demand rental market near NYC.
Where is this apartment building located?
The property is located at 273 W Lincoln Ave Mount Vernon, NY.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: Income‑producing 7‑unit multifamily building; Located in Mount Vernon, Westchester County, near the Bronx and NYC; Convenient access to Manhattan via nearby Metro‑North stations
