124 Center Avenue, Mamaroneck, NY 10543
- $1,495,000
- List Price
- $1,495,000
- Days on Market
- 6
- MLS#
- 1011135
- Status
- ACTIVE
- Property Type
- Multi Family
- Style
- Flats
- Year Built
- 1892
- Property Tax
- $25,900
- Neighborhood
- Mamaroneck
- School District
- Mamaroneck
- High School
- Mamaroneck High School
- Jr. High
- Hommocks School
- Elementary School
- Mamaroneck Avenue
Property Description
Rare FIVE-FAMILY family investment opportunity consisting of two separate buildings with off-street tenant parking and substantial income-growth potential. The 2,052-square-foot front building offers three units: a spacious four-bedroom duplex with 1.5 baths and two additional two-bedroom apartments. The 1,612-square-foot rear building contains two three-bedroom apartments. Current rents are well below market (annual income approx. $135K,) and there are presently no written leases in place, offering flexibility for future rent adjustments, subject to applicable laws and regulations. PROJECTED annual income is approximately $220,000 based on anticipated market rents. Each building is served by one gas boiler, with heat paid by the owner. Every apartment has a separate electric hot-water heater, with electricity paid by the tenant. An excellent value-add opportunity for investors seeking strong cash-flow potential in a desirable Mamaroneck location.
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Additional Information
- Parking
- Off Street, Shared Driveway
- Stories
- 2
- Basement
- Bilco Door(s), Unfinished
- Heating
- Hot Water, Natural Gas
- Cooling
- None
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Listing Agent: Lawrence Duignan (lduig4@gmail.com) from Listing Office: Spadaro Real Estate, Ltd..
Listings courtesy of OneKey® MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.