MLS#1011135
STATUSActive
PROPERTY TYPECommercial -
SCHOOLMamaroneck
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.
Property Features
Property Type: Commercial -
Basement: Bilco Door(s), Unfinished
Basement: Yes
Cooling: None
Heating: Hot Water, Natural Gas
Home Style: Flats
Lot Size: 0.11 Acres
Stories: 2.0
Taxes: $25,900
Year Built: 1892
Feature Descriptions
Building Area Total: 3664
Days on Site: 3
Exterior: Vinyl Siding
Flooring: Combination
Fuel Expense: 7071
Heating Units: 2
Heating Zones: 5
Lot Features: Near Public Transit, Near School, Near Shops
Maintenance Expense: 0
Maintenance Expense: 0
On Market Date: 2026-07-25
Parcel Number: 3203-008-000-00023-000-0596
Parking Features: Off Street, Shared Driveway
Parking Total: 6
Rental Term: Monthly
Seller Concession: Yes
Seller Concession Amount:: 2.00
Separate Electric Meters: 5
Separate Gas Meters: 5
Sewer: Public Sewer
Tenant Pays: Electricity, Gas, See Remarks
Trash Expense: 0
Units: 5
Utilities: See Remarks
Water: Public
Local Schools
High School: Mamaroneck High School
Middle School: Hommocks School
Elementary School: Mamaroneck Avenue
School District: Mamaroneck
Listed By / Shown By
Listing By
Agency Name: Spadaro Real Estate, Ltd.
Agency Phone: 914-698-1017
Shown By
Agent Name: Mohammad Khan
Agent Phone: (516) 796-8900
Agency Title: Coldwell Banker American Homes
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124 Center Avenue | MLS# 1011135
This commercial property located at 124 Center Avenue, Mamaroneck, NY 10543 is currently listed for sale with an asking price of $1,495,000. Center Avenue is located within the Mamaroneck school district. Search Mamaroneck real estate on mohammadkhan.cbamhomes.com today.