Boutique Multifamily Building with 7
540-542 North High Street Mount Vernon, NY 10552
540-542 North High Street, Mount Vernon, NY, 10552
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For Sale
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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 Market53
Property Features for 540-542 North High Street
General Information
- Standard status
- Active
- Size
- 8,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1947
Listing Agency
Marcus & Millichap - Manhattan
Listed by
Seth Glasser · License #NY 10301209629
Source
Crexi
Added: May 30 Updated: Jul 10 at 1:52 pm Checked: Jul 20 at 3:52 am
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
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $264.0k | $33.00 |
| − Vacancy | −$14.5k | −$1.82 |
| EGI | $249.5k | $31.19 |
| − OpEx | −$112.3k | −$14.03 |
| NOI | $137.2k | $17.15 |
8,000 SF · lease $33.00/SF/yr · vacancy 5.50% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
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
