The chemical composition of 21 alloy was modified by doubling the molybdenum (Mo) content for enhanced corrosion and wear resistance. The specimens were fabricated using a casting technique. Half of the specimens experienced a heat treatment at for an hour. The microstructure and phase analyses of the specimens were conducted using electron scanning microscopy and X-ray diffraction. The mechanical properties of the specimens were determined in terms of the ASTM Standard Test Method for Tension Testing of Metallic Materials (E8-96). The mechanical behaviors of individual phases in the specimen materials were investigated using a nano-indentation technique. The wear resistance of the specimens was evaluated on a ball-on-disk tribometer. The experimental results revealed that the increased Mo content had significant effects on the mechanical and tribological properties of the low-carbon alloy and the heat treatment also influenced these properties.