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    658 Mamaroneck Ave Mamaroneck, NY 10543

    Sponsored
    For Sale
    $1,750,000

    6-Unit Apartment Building, High NOI

    Property size:
    7,460 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a stabilized, six-unit apartment building located at 658 Mamaroneck Avenue in Mamaroneck, New York. The property, a three-story building totaling 7,460 square feet, sits on a 0.11-acre lot and boasts a 100% occupancy rate. The building comprises six fully occupied two-bedroom railroad-style apartments; five are rent-stabilized, and one is a Section 8 unit. Each unit features individual meters for utilities. Substantial renovations were completed within the past two years, significantly enhancing the property's value and appeal. The building's strong financial performance is reflected in its impressive Net Operating Income (NOI) of approximately $131,859, generating a 7.53% cap rate. The asking price is $1,750,000, translating to a price per unit of approximately $291,667 and a price per square foot of $234.58. The property is conveniently located just 0.2 miles from the Mamaroneck Train Station. The current owner is responsible for taxes, insurance, and water. Plans are in place to complete exterior painting and additional improvements. Built in 1920 and renovated in 1990, this property offers a blend of classic charm and modern updates, making it an attractive investment for discerning buyers. The property's strong cash flow, prime location, and recent renovations make it a compelling opportunity in the competitive Westchester County market. The APN is 3203-008-000-00019-000-0018.

    Property Features for 658 Mamaroneck Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,460 SF
    Class
    C
    Lot Size
    4,792 SF

    Building Details

    Year Built/Renovated
    1920/1990
    Buildings
    1
    Stories
    3
    Units
    6

    HighLights

    • $1,750,000 asking price for a stabilized multifamily investment property.
    • Six‑unit, 7,460 square foot apartment building on a 0.11‑acre lot in Mamaroneck, NY.
    • Fully occupied with five rent‑stabilized and one Section 8 unit; all units are separately metered.
    • Strong cash flow with a 7.53% cap rate and approximately $131,859 NOI; recent major renovations completed.
    • Landlord responsible for taxes, insurance, and water; exterior painting and additional improvements planned.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mamaroneck
    County
    Westchester
    State
    New York
    Longitude
    -73.7391836
    Latitude
    40.9548657

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    FAQs

    What type of property is this?
    Multifamily property - 6-Unit Apartment Building, High NOI
    Where is this multifamily property located?
    The property is located at 658 Mamaroneck Ave Mamaroneck, NY.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: $1,750,000 asking price for a stabilized multifamily investment property.; Six-unit, 7,460 square foot apartment building on a 0.11-acre lot in Mamaroneck, NY.; Fully occupied with five rent-stabilized and one Section 8 unit; all units are separately metered.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    658 Mamaroneck Ave Mamaroneck, NY 10543
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