540-542 N High St, Mount - Apartments FOR SALE


Mount Vernon, NY 10552- North Side
$1,650,000 USD
212-430-5136
540-542 N High St, Mount, Mount Vernon, NY for Sale
$1,650,000 USD
Apartments - FOR SALE
1/5
null | 6.7% Cap Rate

540-542 N High St, Mount
Mount Vernon, NY 10552
North Side


HIGHLIGHTS

  • The property is listed at a purchase price of $1,650,000, which breaks down to $235,714 per unitand $206 per square foot.
  • Annual residential revenue is projected to grow from a current $173,208 to a pro forma $207,600 asmonthly rents are brought up to market rates.
  • Executing the pro forma leasing strategy is expected to drive the asset's Net Operating Income upfrom $111,220 to $141,561.
  • Shifting to stabilized pro forma operations elevates the property from its current 6.7% cap rate to aprojected 12.0% cash-on-cash return.

OVERVIEW

This 7-unit multifamily property in the Fleetwood neighborhood offers a compelling investment opportunity in Mount Vernon. The building includes four 2-bedroom and three 1-bedroom residences, configured for optimal long-term rental potential. Additionally, four garages provide supplemental income and enhance appeal for tenants seeking secure parking. At a purchase price of $1,650,000, the asset is positioned to deliver strong financial upside supported by attainable pro forma improvements. The current annual residential revenue of $173,208 is projected to reach $207,600 through execution of a market-rate rent strategy. Investors will benefit from significant income growth and operational efficiency, as Net Operating Income is expected to rise from $111,220 to $141,561 under stabilized conditions. The property currently offers a 6.7% cap rate, with projected returns of approximately 12.0% cash-on-cash following implementation of the revenue plan. Located in the Fleetwood area, residents enjoy access to vibrant local amenities and commuter connections throughout Westchester and the New York metropolitan region. This asset exemplifies strong fundamentals for investors targeting well-located multifamily housing with tangible rent growth potential.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$206 USD /SF

# OF UNITS

7

PRICE/UNIT

$235,714

CAP RATE

6.7%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1947

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

-

APN/PARCEL ID

0800-165-037-01049-000-0011

ASK ABOUT THIS PROPERTY

Seth GlasserMarcus & MillichapMore Info
212-430-5136

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Seth GlasserMarcus & MillichapMore Info
212-430-5136

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.