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21378300
21378448

257 S 3rd Ave, Mount Vernon, NY 10550

SW
NY: 10401343423
Marcus & Millichap - Westchester
Listed by Marcus & Millichap - Westchester
$4,100,000
494 days on market
Updated 67 days ago
Opportunity zone

Vernon Court

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 20,379
Net Rentable (SqFt) 15,608
Units 24
Cap Rate 6.72%
NOI $275,000
Price per SqFt $262
Year Built 1925
Year Renovated 2025
Buildings 1
Stories 4
Acreage 0.120
Zoning opportunity
Investment Type Stabilized

Multifamily | 6.72% CAP | 24 Units

Marketing description

The featured property is a (4) story (24) unit brick, walkup apartment building located on the east side of South 3rd Avenue between East 3rd Street and East 4th Street in Mount Vernon. The unit breakdown consists of (16) 2-bedrooms units and (8) 1-bedroom units of which (22) are RS and (2) are RC. The building's super unit was gut renovated and is in the basement and not included in the unit count. 257 S 3rd Avenue was recently renovated to include improvements such as the installation of (25) individual boilers and meters with PEX tubing for each of the (24) units plus the super's unit, brand new circuit boxes in each unit, new radiators in the bedrooms, bathrooms and kitchens, new bathroom GFI outlets, additional circuits in each bedroom and new window gates for all lower-level windows. The super's unit heat is controlled simultaneously with the building's common areas.

Investment highlights

Gross rent roll $511,568

Tenants pay heat and hot water.

Tenants pay electric .

Listing Contacts

SW
NY: 10401343423
Marcus & Millichap - Westchester
Listed by Marcus & Millichap - Westchester

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$275,000.00
$22,916.67/mo

Valuation Metrics

0
DSCR
6.71%
Cap Rate
6.71%
ROI

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Additional Information

Name
John Horowitz
License
NY 10311204479
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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