Mount Vernon, NY
Northeast Private Client Group is pleased to present 19 East 4th St, located in Mount Vernon, NY.
19 East 4th St is an 8-unit apartment building in Mount Vernon, NY. There are four (4) offstreet parking spaces that are rented monthly for $50/month and coin operated laundry that produces additional income.
The building has undergone significant capital expenditures and a repositioning by the current owners. Three (3) of the units have been gut renovated. The heating source has been converted from oil to natural gas to significantly reduce the building’s heating expense, a new security system has been installed, and the necessary roof and common area repairs have been made.
Currently the building has a max legal rent of $2,200 per month throughout the building which will be increased to $2,250. With an average rent of only $1783 and a high rent of $2200, there is an opportunity for the next owner to significantly increase the NOI with minimal cap ex exposure moving forward.
Mount Vernon, Westchester County, NY