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540-542 N High St, Mount
Mount Vernon, NY 10552 North Side

$1,525,000 USD

Apartments For Sale  •  8,000 SF

Property Details

• Property Type Apartments
• Total Building Size 8,000 SF
• Lot Size 0.11 AC
• Building Class B
• Year Built 1947

80 Transit Score

80 Walk Score

Highlights

The property is listed at a purchase price of $1,525,000 which breaks down to $217,857 per unit and $191 per square foot.

Annual residential revenue is projected to grow from a current $173,208 to a pro forma $207,600 as monthly rents are brought up to market rates.

Executing the pro forma leasing strategy is expected to drive the asset's Net Operating Income up from $111,220 to $141,561

Shifting to stabilized pro forma operations elevates the property from its current 7.3% cap rate to a projected 12.0% cash-on-cash return.

7 units w/ below market rents in Fleetwood

100% free market

Property Flyers

540-542 North High Street - Executive Summary

Public Transportation

Commuter Rail	Drive	Walk	Distance
Fleetwood (Harlem - Metro-North Railroad)	2 min	8 min	0.5 mi
Mt Vernon East (New Canaan - Metro-North Railroad, New Haven - Metro-North Railroad)	3 min	20 min	1.1 mi
Airport	Drive	Walk	Distance
LaGuardia	28 min	-	15.0 mi
Westchester County	26 min	-	17.0 mi
John F Kennedy International	34 min	-	22.6 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	4
Type:	OneCarGarage
Included in Rent:	Yes