4 W 4th St

05-20-2022
05-20-2022

4 W 4th St, Mount Vernon, NY 10550

Property Description

The Oak & Avery Group is pleased to present the sale of 4 W 4th St, an 18-unit multifamily building comprised of sixteen (16) One-Bedroom apartments, one (2) Two-Bedroom apartment and one (3) Three-bedroom apartment. Located in the Southside neighborhood of Mt Vernon, the property is in proximity to the Mt Vernon East Metro North Train station, the S 4th Ave Bus stop, the 241 St M (2) Train, the Hutchinson River Parkway and the Bronx River Parkway. Recent capital improvements include new kitchens, bathrooms, flooring, painting, roof sealing, boiler heat-timer and a Runwise smart energy management system. The building runs (#2) oil heat, supplied by the landlord. Tenants are individually metered for and pay their own (cooking) gas and electric. Most tenants are on 1-2 year leases with about half receiving Section 8 vouchers. All units are rent stabilized, however, many are paying a preferential rent, lower than the legal maximums.
The existing debt on the building must be assumed. The principal balance, originated by Fannie Mae, is $1.78M fixed at 3.1% with 8 years remaining on a 30 year amortization .

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 2,775,000
No. of Units
18
Cap Rate
6.9%
Year Built
1945
Building Size
8,324 Sq ft
No. of Stories
4
Opportunity Zone
No
Price per unit
$ 154,167
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40.904091, -73.834486

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