100 Brookside AveMount Vernon, NY 10553

Property Details for 100 Brookside Ave

Lot size

0.34 AC

Property type

Apartment buildings

Description

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.

Location Insight

City

Mount Vernon

County

Westchester

State

New York

Latitude

40.9109

Longitude

-73.819

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