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 not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
