KAFKA | For Sale | 345, 353 & 357 Mayflower Ave, New Rochelle, NY
Property Details:
Price: $2,195,000
Type: Multifamily
Units: 12
Building GLA (approx.): 7,020 SF
Lot Size: -
Year Built: 1956
Parking: 16 Off-Street
Pricing Metrics:
CAP Rate: 4.41%
Price Per Unit (PPU): $182,917
Price Per SF (PPSF): $313
Gross Rent Multiplier (GRM): 10.46x
Property Highlights:
Kafka Realty is pleased to exclusively present the opportunity to acquire a multifamily portfolio located on Mayflower Ave in New Rochelle, NY. The subject property consists of three 4-family buildings, totaling twelve free-market units. The asset offers significant projected upside in rents (30%+), presenting a true value-add opportunity for investors to increase income through strategic rent increases and property improvements. The property is ideally located directly bordering the highly desirable Pelham market, providing tenants with convenient access to Pelham’s retail corridors, dining, and transportation options, enhancing long-term rental demand. Additionally, the asset offers easy connectivity to Manhattan, with approximately a 30–40 minute commute via car and close proximity to the New Rochelle Metro-North Station.
