For Sale
$2,900,000

100 Brookside AveMount Vernon, NY 10553

25-Unit Apartment Building, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity presents a fully occupied, 25-unit apartment building located at 100 Brookside Ave, Mount Vernon, NY 10553. The property boasts a 100% occupancy rate as of July 22, 2024, generating a substantial pro-forma NOI of $173,162 and a pro-forma cap rate of 5.97%. Offered at $2,900,000, this represents a price per unit of $116,000. Situated on a 0.34-acre lot, the fee-simple ownership provides complete control and potential for future appreciation. The building's strategic location offers convenient access to public transportation, being just one mile from the Mount Vernon Metro North Station, and is also within close proximity (0.7 miles) to the amenities and vibrancy of the Village of Pelham. This prime location enhances tenant appeal and contributes to the property's strong rental income. Further upside potential exists due to below-market rents in several units, allowing for future rental increases. This stabilized investment offers immediate cash flow and long-term growth prospects, making it an attractive addition to any real estate portfolio. The building's strong performance and desirable location combine to create a compelling investment opportunity with significant potential for return.

Highlights

  • Fully occupied 25-unit apartment building in Mount Vernon, NY.
  • Excellent location, one mile from Metro North and near Pelham amenities.
  • Strong financials: $173,162 pro-forma NOI, 5.97% pro-forma cap rate, $2,900,000 asking price ($116,000 per unit).
  • Significant rental upside potential due to below-market rents in some units.
  • Fee simple ownership on a 0.34-acre lot.

Property Details for 100 Brookside Ave

Property type
Apartment buildings
Lot Size (sq. ft)
14,810 SF
Units
25

Location Insight

City
Mount Vernon
County
Westchester
State
New York
Latitude
40.9108535
Longitude
-73.8190108
100 Brookside Ave, Mount Vernon, New York

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100 Brookside Ave
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