658 Mamaroneck Ave Mamaroneck, NY 10543
- Commercial real estate
- 7,460 SF
- 0.11 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 658 Mamaroneck Ave
- Year built
- 1920
- Lot size
- 0.11 lot acres
- Property size
- 7,460 SF
- Property type
- Commercial real estate
- APN
- 3203-008-000-00019-000-0018
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mamaroneck
- County
- Westchester
- State
- New York
- Longitude
- -73.7391836
- Latitude
- 40.9548657
