

Vernon Court
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 .
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