Boutique Multifamily Building with 7
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540-542 North High Street, Mount Vernon, NY 10552
An 8,000-square-foot multifamily property with seven units and flexible one- and two-bedroom layouts.
Property Size8,000 SF
Price / SF$206.25
Days on Market145
Property Features for 540-542 North High Street
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Multifamily
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$110,550
Additional Details
Multifamily Units
7
Building Details
Year Built
1947
Buildings
2
Units
7
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Seth Glasser · License #NY 10301209629
Source:
Crexi
Added: May 30
Changed: Oct 14
Last Checked: Oct 20 at 8:42PM
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 Marcus & Millichap - Manhattan
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Investment Insights
Based on property information with market context.
The property at 540-542 North High Street is an 8,000-square-foot multifamily asset with seven residential units. Per the provided remarks, it is currently designated as 100% Fair Market, with zero rent-stabilized units. The unit mix consists of one- and two-bedroom layouts, creating operational flexibility for an owner or buyer evaluating the property’s tenant profile.
Located on the northern border of the Bronx, the building sits directly adjacent to the Fleetwood neighborhood of Mount Vernon, within a dense residential corridor. Access to major regional retail hubs is described in the remarks, and the property is stated to be approximately 0.9 miles from the Fleetwood Metro-North Station, supporting commute connectivity. The surrounding area is characterized in the remarks as benefiting from transit and ongoing residential momentum tied to multi-million-dollar infrastructure investments.
For investors and operators seeking a small-balance multifamily configuration, the Fair Market unit designation and one- and two-bedroom mix may align with tenants looking for both flexibility and established neighborhood access. The provided remarks also note full occupancy and consistent demand from the area’s renter pool, which may be relevant to buyers assessing current operating conditions.
Located on the northern border of the Bronx, the building sits directly adjacent to the Fleetwood neighborhood of Mount Vernon, within a dense residential corridor. Access to major regional retail hubs is described in the remarks, and the property is stated to be approximately 0.9 miles from the Fleetwood Metro-North Station, supporting commute connectivity. The surrounding area is characterized in the remarks as benefiting from transit and ongoing residential momentum tied to multi-million-dollar infrastructure investments.
For investors and operators seeking a small-balance multifamily configuration, the Fair Market unit designation and one- and two-bedroom mix may align with tenants looking for both flexibility and established neighborhood access. The provided remarks also note full occupancy and consistent demand from the area’s renter pool, which may be relevant to buyers assessing current operating conditions.
Key Highlights
- 8,000‑square‑foot multifamily property with 7 residential units
- Year built: 1947
- Unit mix includes one- and two‑bedroom layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,214
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
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
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 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 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.42M
$2.11M – $2.82M
NOI $169,156 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Open Analytics
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
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Business Placement
Demographics for 10552, NY
21,296
Population
10,143
Households
2.1
Avg Household Size
44
Median Age
52%
College-Educated
90%
High-School Grad
1.7 sq mi
ZIP Area
12,527
Density / Sq Mi
$97,105
Median Household Income
$60,329
Median Earnings
$1,770
Median Rent
$331,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - An 8,000-square-foot multifamily property with seven units and flexible one- and two-bedroom layouts.
Where is this apartment building located?
The property is located at 540-542 North High Street Mount Vernon, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 8,000‑square‑foot multifamily property with 7 residential units; Year built: 1947; Unit mix includes one- and two‑bedroom layouts
