124 Center Avenue, Mamaroneck, NY 10543
- $1,495,000
- List Price
- $1,495,000
- Status
- ACTIVE
- MLS#
- 1011135
- Year Built
- 1892
- Style
- Flats
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
- Taxes
- $25,900
- Flooring
- Combination
- Heating
- Hot Water, Natural Gas
- Cooling System Type
- None
- Sewer
- Public Sewer
- Water Source
- Public
- Basement
- Bilco Door(s), Unfinished
- Parking Spaces
- 6
- Elementary School
- Mamaroneck Avenue
- Middle School
- Hommocks School
- High School
- Mamaroneck High School
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.