Value-add opportunity in Mount Vernon, NY, turn a 6% to an 8% cap in a year! The subject property is a two and a half story, 5 unit building on the corner of South 3rd Avenue and Warren Place. This 3,679 square foot all brick building consists of two commercial units and three residential units, one 1 bedroom unit, one 2 bedroom unit and one 3 bedroom unit, all of which are completely free market. The 3 bedroom unit is currently broken up into two separate units, one 1 bedroom and one 2 bedroom. The one bedroom unit is currently occupied, while the 2 bedroom unit is vacant. The c/o on file shows the property as a legal 3 unit with a store and garage. The residential units are rented below market rate giving a savvy investor the ability to increase the rent roll. The commercial units are occupied by a deli and a shop in the garage.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
