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The New Rochelle Portfolio 2 Multifamily Properties Offered at $8,040,000 in New Rochelle, NY
Investment Highlights
- 48-units, two 100% rent-stabilized multifamily properties.
- Historically maintained high occupancy with minimal turnover and is currently 100% occupied.
- Approximately 36 off-street parking spaces, multiple storage units, and on-site laundry.
- Both properties include up-to-date DHCR documentation and well-maintained records.
- Capital improvements include upgraded mechanicals, new roof, lobby & common areas, etc.
Executive Summary
Kafka Realty is pleased to exclusively present a 48-unit multifamily portfolio consisting of two well-located rent-stabilized assets in New Rochelle, NY. The portfolio includes 340 Mayflower Ave, a three-story brick building with 24 residential units and 36 off-street parking spaces, and 347 Huguenot St, a five-story brick building with 24 residential units in the heart of Downtown New Rochelle.
The portfolio offers investors exposure to two distinct and complementary New Rochelle locations. 347 Huguenot Street is approximately 0.3 miles from the New Rochelle Metro-North and Amtrak Station, providing direct access to Manhattan, while 340 Mayflower Avenue is situated near the Pelham border, offering a more suburban residential setting with convenient access to nearby retail, dining, and transportation.
Both properties benefit from New Rochelle's strong rental market, continued investment and development, and convenient access to I-95, the Hutchinson River Parkway, Metro-North, and Amtrak. The combination of 48 rent-stabilized units, substantial off-street parking, transit accessibility, and desirable Westchester County locations presents a compelling multifamily investment opportunity.
The portfolio offers investors exposure to two distinct and complementary New Rochelle locations. 347 Huguenot Street is approximately 0.3 miles from the New Rochelle Metro-North and Amtrak Station, providing direct access to Manhattan, while 340 Mayflower Avenue is situated near the Pelham border, offering a more suburban residential setting with convenient access to nearby retail, dining, and transportation.
Both properties benefit from New Rochelle's strong rental market, continued investment and development, and convenient access to I-95, the Hutchinson River Parkway, Metro-North, and Amtrak. The combination of 48 rent-stabilized units, substantial off-street parking, transit accessibility, and desirable Westchester County locations presents a compelling multifamily investment opportunity.
Property Facts
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 10-14 Glencar Ave, New Rochelle, NY 10801 | Multifamily | 19,050 SF | 1969 | - |
| 347 Huguenot St, New Rochelle, NY 10801 | Multifamily | 18,750 SF | 1924 | - |
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The New Rochelle Portfolio