5 4Th StMount Vernon, NY 10550

Property Details for 5 4Th St

Property size (Sq ft)

35,000 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a 39-unit mixed-use elevator building situated at 5 West 4th Street in Mount Vernon, New York, Westchester County, zip code 10550. The property boasts a total of 35,000 square feet and commands a prominent corner location between South 4th and South 5th Avenues. The building comprises a diverse mix of residential units, including 25 one-bedroom and 11 two-bedroom apartments, supplemented by three ground-floor retail tenants. Currently, the building offers a compelling net operating income (NOI) of $339,809, translating to a 7.10% capitalization rate. The asking price is $4,800,000, representing a price per unit of $123,076.92 and a price per square foot of $137.14. A significant advantage lies in the 24 residential units currently operating under preferential rents, presenting a substantial annual delta of $152,000 between actual and legally registered rents under the DHCR. This presents a strong value-add opportunity for the astute investor. The property's strategic location offers convenient access to public transportation, including proximity to the South 4th Bus station, Metro North Train station, and the 241st Street M train. This prime location, coupled with the strong financial metrics and value-add potential, makes this a highly attractive investment prospect in the thriving South Side submarket of Mount Vernon. No dry cleaning services are offered on-site.

Location Insight

City

Mount Vernon

County

Westchester

State

New York

Latitude

40.9044

Longitude

-73.8347

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