269 West 1st Street, Mt Vernon, NY 10550 For Sale

National Multifamily is pleased to present 269 W. 1^st Street, a 29-unit mixed use property with 8 stores and 21 ETPA apartments located in Mount Vernon, NY on the border of the Bronx. The property is approximately 0.3 miles from the Wakefield-241 Street Subway Station with connectivity to New York City’s full subway system and is approximately 0.6 miles from the Wakefield Metro-North Station with service into Grand Central in Midtown Manhattan in under 30 minutes.

The property is under a tax foreclosure. Ownership is requesting all offers be submitted by July 31^st in an all cash basis. The closing of the property must happen on or before August 18^th, 2026. While ownership will be prioritizing all-cash offers, they currently own the property outright. Offers that include seller financing with a minimum cash delivered at closing of $1,000,000 will be considered.

The building contains 24,065 rentable square feet across 4 stories and was built in 1925. The property is situated on a 0.16-acre corner lot with frontage on both W. 1^st Street and Cortlandt Street. The ground floor of the building consists of 8 stores of which 6 are currently occupied. Above the retail is 3 additional stories consisting of 21 fully ETPA apartments. Of the 21, 18 are occupied, 2 are vacant and almost rent ready, and 1 is used as storage by the current building owners. The landlord pays for the heat through a new boiler installed this past winter that runs on an above ground oil tank located in the basement.

The property offers significant potential through the lease-up of the retail and consistent cash flow with the apartments. The Westchester County Rent Guidelines Board approved rent adjustments of 3.5% for one-year leases and 4.5% for two-year leases for rent stabilized apartments, effective October 1, 2026. The approved increases represent a departure from the lower adjustments adopted in recent years.