6 Sidney AveMount Vernon, NY 10550

Property Details for 6 Sidney Ave

Lot size

0.17 AC

Property size (Sq ft)

6,992 SF

Property type

Investment properties

Property subtype

Live-work space

APN

550800 165.62-1117-22

APU

55080016562111722

Description

This exceptional mixed-use property at 6 East Sidney Avenue in Mount Vernon, New York, presents a compelling investment opportunity. The 27,000 square foot building boasts a prime corner location in Westchester County, offering 24 apartments and 6 retail units across four stories. Eighteen apartments have undergone recent renovations, enhancing their appeal and market value. The building enjoys 100% occupancy, generating a substantial Net Operating Income (NOI) of $522,074.60, resulting in an attractive 8.35% cap rate. The asking price is $6,250,000. Recent upgrades include a brand new boiler and hot water heater, with a conversion from oil to gas heating, improving efficiency and reducing operating costs. The retail tenants operate under a Net Net Plus (NN+) lease, ensuring financial stability by covering real estate taxes, insurance, and water expenses. Situated on a 0.17-acre lot zoned NB, the property benefits from excellent accessibility, with proximity to bus lines, the Metro-North Railroad at Mount Vernon East, and the Bronx River Parkway. Furthermore, the surrounding area offers a wealth of amenities, including grocery stores, restaurants, banks, and various transit options (including the 2 and 5 trains and MTA services) all within a short distance. This property offers a rare combination of strong cash flow, modern amenities, and a strategic location, making it an ideal investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $1,155,986

  6.5%

  $1,067,064

  7%

  $990,846

• Comparable approach

  Method

  Valuation

  Relative Method

  $913,575

  Geo Method

  $913,575

• Alternative Use

  Use

  Valuation

  Residential

  $1,323,160

  Hospitality

  $1,212,007

  Educational

  $1,008,376

  Medical

  $1,043,055

  Retail

  $1,568,585

Location Insight

City

Mount Vernon

County

Westchester

State

New York

Latitude

40.9141

Longitude

-73.8371

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].