70 3Rd Ave Mount Vernon, NY 10550
- Investment properties
- 0.15 lot acres
Current Use by Public Records
- Investment properties
Property Details for 70 3Rd Ave
- Lot size
- 0.15 lot acres
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 550800 165.78-3111-20
- APU
- 55080016578311120
Description
This exceptional Mount Vernon, NY investment opportunity presents a well-maintained mixed-use building at 70 S 3rd Ave, 10550, boasting 13,200 square feet. Currently 100% occupied, the property generates a substantial gross annual income of $302,000, with a net operating income (NOI) of $167,000, representing a compelling 6.50% cap rate. The building comprises 14 residential units and 7 commercial spaces, all under rent-stabilized leases. Significant capital expenditures have been undertaken over the years, including upgrades to the boilers and roofing, ensuring the property's long-term viability. This turnkey investment is ideal for sophisticated investors seeking a stable, high-yielding asset in a prime Westchester County location. The asking price is $2,595,000, translating to $196.59 per square foot. Detailed financial statements, including a complete rent roll and expense breakdown, are available upon request. This is a rare opportunity to acquire a fully occupied, income-producing property with a proven track record of success. Don't miss out on this exceptional investment.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mount Vernon
- County
- Westchester
- State
- New York
- Longitude
- -73.8355
- Latitude
- 40.9094
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
