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536 N High St 10 Unit Apartment Building $1,250,000 ($125,000/Unit) 7.90% Cap Rate Mount Vernon, NY 10552
Investment Highlights
- 10-Unit, 100% Rent-Stabilized Multifamily, Fully Occupied Asset
- Proposed Financing of $937,500 Yielding an 8.70% First-Year Cash-on-Cash Return
- Highly Concentrated Unit Mix, Featuring Nine One-Bedroom Layouts
- Offered at $1,250,000, Representing a 7.9% In-Place Capitalization Rate
- Clear Value-Add Opportunity to Increase Annual Revenue by $7,006 to Legal Levels
- Located at 536 North High Street in Mount Vernon, NY
Executive Summary
The New York Multifamily Group at Marcus & Millichap is pleased to exclusively offer 536 North High Street for sale, a fully occupied, 10-unit multifamily property with a garage located in the Fleetwood neighborhood of Mount Vernon, New York. The property is approximately 8,000 square feet, contains100% rent-stabilized residential units, and features nine one-bedroom and one two-bedroom layouts. The investment is offered at $1,250,000, representing a 7.9% in-place capitalization rate with a clear value-add opportunity to increase annual residential revenue.
STRONG CASH FLOW.
Priced at $1,250,000, the asset delivers a strong 7.9% in-place capitalization rate on a Net Operating Income of $99,264. Based on the proposed financing, investors will achieve an attractive 8.70% first-year cash-on-cash return.
VALUE-ADD UPSIDE
A clear value-add opportunity exists to increase annual residential revenue by $7,006 by bringing current rents to their legal, registered levels of $165,762. This provides immediate upside for the new investors.
PRIME COMMUTER LOC.
Offering exceptional transit access, this asset boasts a direct 30-minute commute to Manhattan's Grand Central Terminal via the nearby Fleetwood Metro-North station, acting as a primary driver for strong renter demand. PROXIMITY TO EMPLOYERSThe property is located within a 3.2-mile radius of 5,000 healthcare and education jobs. Major institutions like Montefiore MountVernon Hospital and Sarah Lawrence College provide a strong, localized economic base.
ROBUST MARKET FUNDAMENTALS
The Southern Westchester multifamily submarket demonstrates robust performance with a low vacancy rate of 3.7%. The tri-city cluster delivered 2,673 new units in 2025, met with intense renter demand and a localized absorption rate of 5.9%. Mount Vernon's residential market specifically maintains occupancy rates exceeding 95%
STRONG CASH FLOW.
Priced at $1,250,000, the asset delivers a strong 7.9% in-place capitalization rate on a Net Operating Income of $99,264. Based on the proposed financing, investors will achieve an attractive 8.70% first-year cash-on-cash return.
VALUE-ADD UPSIDE
A clear value-add opportunity exists to increase annual residential revenue by $7,006 by bringing current rents to their legal, registered levels of $165,762. This provides immediate upside for the new investors.
PRIME COMMUTER LOC.
Offering exceptional transit access, this asset boasts a direct 30-minute commute to Manhattan's Grand Central Terminal via the nearby Fleetwood Metro-North station, acting as a primary driver for strong renter demand. PROXIMITY TO EMPLOYERSThe property is located within a 3.2-mile radius of 5,000 healthcare and education jobs. Major institutions like Montefiore MountVernon Hospital and Sarah Lawrence College provide a strong, localized economic base.
ROBUST MARKET FUNDAMENTALS
The Southern Westchester multifamily submarket demonstrates robust performance with a low vacancy rate of 3.7%. The tri-city cluster delivered 2,673 new units in 2025, met with intense renter demand and a localized absorption rate of 5.9%. Mount Vernon's residential market specifically maintains occupancy rates exceeding 95%
Property Facts
| Price | $1,250,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $125,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 7.90% | Building Size | 8,000 SF |
| Gross Rent Multiplier | 7.5 | No. Stories | 4 |
| No. Units | 10 | Year Built | 1947 |
| Property Type | Multifamily | Parking Ratio | 0.31/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,250,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 7.90% |
| Gross Rent Multiplier | 7.5 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 8,000 SF |
| No. Stories | 4 |
| Year Built | 1947 |
| Parking Ratio | 0.31/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 0800-165-037-01049-000-0012 | Improvements Assessment | $18,000 |
| Land Assessment | $3,000 | Total Assessment | $21,000 |
Property Taxes
Parcel Number
0800-165-037-01049-000-0012
Land Assessment
$3,000
Improvements Assessment
$18,000
Total Assessment
$21,000
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536 N High St
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