242, 242A & 244 South 3rd Avenue, Mount Vernon, New York 10550
5.94% CAP RATE! THREE PRE WAR VICTORIAN MULTIFAMILY BUILDINGS, MOUNT VERNON NY
Map Content
Location Description
Blocks away from the City line
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Property Description
3 Residential Brick walk-up Pre War Victorian Queen Anne Architectural Contiguous Brownstone Apartment Buildings. 2 Four Family & 1 Six Family with 14 Total Apartments. Each property sits on a 2,178 Square foot lot. Properties located in the South Side Section of Mount Vernon.
Property Details
| Price: | 2750000 |
| No. Units: | 14 |
| Building Size: | 6534 SF |
| Price/Unit: | $108,333.33 |
| Property Type: | Multi-Family |
| Property Sub-type: | Garden/Low-Rise |
| Property Use Type: | Investment |
| Cap Rate: | 5.94% |
| Gross Rent Multiplier: | 10.36 |
| Occupancy: | 100% |
| No. Stories: | 3 |
| Year Built: | 1906 |
| Lot Size: | 6534 SF |
Units
Unit Mix
| Description | No. Units | Avg. Mo. Rent |
| 1 Bedroom 1 Bathroom | 4 | |
| 2 Bedroom 1 Bathroom | 3 | |
| 3 Bedroom 1 Bathroom | 3 | |
| 4 Bedroom 1 Bathroom | 4 | |
Financial Summary
| Scheduled Gross Income | $265417 |
| Effective Gross Income | $265417 |
| Operating Expenses | $102090 |
| Net Operating Income | $163327 |
Debt & Equity Information
Major Tenants
| Tenant | SF Occupied | Lease Expired |