142 N Terrace Avenue,Mount Vernon, NY 10550
Mount Vernon, NY 10550
Description
This property is being sold based on the HUGE Rental revenue, Positive cash flow and Renovated BEAUTIFUL condition. The property consists of 3 UNITS PLUS a finished walkout Garden apartment with a legal kitchen and bath. Units consist of the following: 4 bedroom 2 bath ( $2929 Monthly Rent) 3 bedroom 1 bath ( Currently Vacant) , 2 bedroom 1 bath ($2537 Rent) , 1 bedroom 1 bath ( $1830 rent) . Currently the 3 bedroom apartment is vacant and the property is still grossing over $87,000 per year!! Why only live rent free when you can live in this apartment and still generate a positive cash flow!! When this apartment is rented out the Building Gross Rental Revenue is a WHOPPING $121, 752. Yes you read correctly- $121, 752!!!! As a bonus Tenants pay for their own cooking gas, electric and hot water. This is a rarity amongst Multi Families and makes this your perfect home or investment cash cow!! Selling at approximately 8.5 % Cap rate. All program rents increase at approximately 3.5 % per year so cash flow will grow each year.
Details
| MLS # | 952048 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1940 |
| Days On Site | 225 |
| Listing Provided By | Bayview Realty | Daniel Feder |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 5 Total |
| Units | 4 |
| Acreage | 0.08 |
Interior
| Cooling | None |
|---|---|
| Heating | Baseboard, Natural Gas, Other |
| Interior Features | Other |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Off Street |
Utilities
| Utilities | Natural Gas Connected, Trash Collection Public |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Annual Amount | 16500 |
Area Information
| State | NY |
|---|---|
| County | Westchester County |
| City | Mount Vernon |
| Zip Code | 10550 |
| School District | Hamilton |
| Elementary School | Hamilton |
| Listing VS Median (in 10550) | |
Price: $1,095,000 low | high Med: $654,500 On site: 225 low | high Med: 339.5 | |
Market Activity 10550
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Learn More About This Property
| State | NY |
|---|---|
| County | Westchester County |
| City | Mount Vernon |
| Zip Code | 10550 |
| School District | Hamilton |
| Elementary School | Hamilton |
| Listing VS Median (in 10550) | |
Price: $1,095,000 low | high Med: $654,500 On site: 225 low | high Med: 339.5 | |
