Apartment Building with Finished
For Sale
$975,000
279 S Columbus Avenue, Mount Vernon, NY 10553
The multi-level residence includes several living, dining, and kitchen areas, plus a vacant basement apartment configuration.
Property Size3,200 SF
Price / SF$304.69
Days on Market20
Property Features for 279 S Columbus Avenue
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
4
Property subtype
Residential Income
Site & Location
Neighborhood
Parkside
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$21,936
Amenities
closed circuit cameras
Natural Woodwork
Other
Building Details
Building Size
3,200 SF
Year Built
1922
Buildings
1
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
Century 21 Future Homes Realty
(718) 863-0055
Listed By:
Annette N. Smith
(914) 346-7366
Source:
Croninreale
Added: Oct 5
Changed: Oct 23
Last Checked: Oct 23 at 4:13PM
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 Century 21 Future Homes Realty
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Investment Insights
Based on property information with market context.
This 3,200-square-foot apartment property, built in 1922, has 8 bedrooms and 5 bathrooms across three upper floors and a finished basement. The first floor has three bedrooms, a bathroom, living and dining areas, a kitchen, and a den. The second floor contains two separate living areas, each with a bedroom and kitchen; one also has a bathroom. The third floor has a bedroom, bathroom, and combined living, dining, and kitchen space. The basement includes two bedrooms, a bathroom, and open living, dining, and kitchen areas.
The property has forced-air heat, air conditioning with five individual climate controls, and closed-circuit cameras. A detached one-car garage and driveway parking for three vehicles are on site, along with a front lawn and private backyard. The upper units are tenant-occupied; the basement is vacant. The property offers access to transportation and shopping malls, and is described as a half-hour from New York City. Showings require at least 48 hours’ advance arrangement; prospective visitors must provide pre-approval and proof of funds.
The property has forced-air heat, air conditioning with five individual climate controls, and closed-circuit cameras. A detached one-car garage and driveway parking for three vehicles are on site, along with a front lawn and private backyard. The upper units are tenant-occupied; the basement is vacant. The property offers access to transportation and shopping malls, and is described as a half-hour from New York City. Showings require at least 48 hours’ advance arrangement; prospective visitors must provide pre-approval and proof of funds.
Key Highlights
- 3,200‑square‑foot apartment property with 8 bedrooms and 5 bathrooms
- Finished basement with 2 bedrooms, a bathroom, and living, dining, and kitchen areas; vacant
- Built in 1922
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,886
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,097,720
$1.1M
Cap Rate 7%
$784,086
$784.1K
Cap Rate 9%
$609,844
$609.8K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$105.6K $33.00/SF
− Vacancy
−$5.8K −$1.82/SF
EGI
$99.8K $31.19/SF
− OpEx
−$44.9K −$14.03/SF
NOI
$54.9K $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%
$1,097,720
Cap Rate 7%
$784,086
Cap Rate 9%
$609,844
Alternative Uses
Best Use
Apartment 5plus
$784.1K
$686.1K – $914.8K
NOI $54,886 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$966.6K
$845.8K – $1.13M
NOI $67,662 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,297
Businesses Nearby
Explore this area
Business Placement
Demographics for 10553, NY
11,281
Population
3,801
Households
3
Avg Household Size
38
Median Age
43%
College-Educated
82%
High-School Grad
0.7 sq mi
ZIP Area
16,116
Density / Sq Mi
$84,173
Median Household Income
$52,668
Median Earnings
$1,771
Median Rent
$490,000
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?
Apartment building - The multi-level residence includes several living, dining, and kitchen areas, plus a vacant basement apartment configuration.
Where is this apartment building located?
The property is located at 279 S Columbus Avenue Mount Vernon, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,200‑square‑foot apartment property with 8 bedrooms and 5 bathrooms; Finished basement with 2 bedrooms, a bathroom, and living, dining, and kitchen areas; vacant; Built in 1922
