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14-16 W 1st St
Mount Vernon, NY 10550
9 Family w/New C.O./10% Cap · Multifamily Property For Sale · 9 Units
Investment Highlights
- Brand New Certificate of Occupancy (2019)
- Landmark Commercial Group Appraised Building at $1.85M (2020)
- 5 Residential Apartments
- Clean Phase I (On Each Property) 3x Clean Phase I (2020)
- No Rent Stabilization/No D.H.C.R./ No Rental Controls
- 4 Commercial Storefronts
PROPERTY FACTS
| No. Units | 9 | Lot Size | 0.33 AC |
| Property Type | Multifamily | Building Size | 8,600 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Mid Rise | No. Stories | 4 |
| Building Class | C | Year Built/Renovated | 1895/2015 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 8,600 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1895/2015 |
Unit Amenities
- Air Conditioning
- Cable Ready
- Security System
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Hardwood Floors
- Vaulted Ceiling
- Tub/Shower
- Basement
- Dining Room
- Handrails
- Intercom
Site Amenities
- Security System
- On-Site Retail
About 14-16 W 1st St , Mount Vernon, NY 10550
Goad Real Estate Co. is Pleased to Offer 14-16 W. First Street & 5A-5B So. Fifth Ave. Mount Vernon, New York 10550 which is a Nine (9) Unit Mixed Use Multi-Family Apartment Building. This Property is Located in a Brand New Zoning that The Federal Government Recently Designated 4-5 Blocks in Mount Vernon and the Property just happens to be in this Zone. Opportunity Zones are Very Attractive for Real Estate Investors and Especially Developers because of The Option to Hold on to this Asset Benefit from The Differed Capital Gains Tax. This Property is a Nine (9) Unit Multi-Family Apartment Building with 5 Apartments and 4 Retail Storefronts. Seller Purchased Building back in 2011 where every Apartment was Gutt Rehabbed, Including Purchasing and Installing Brand New Windows, Brand New Glass Entry Door with Intercom and Magnetic Lock System, Brand New Electrical Breaker Service (Apartments), Brand New 800 Amp 3 Phase Electrical Service for Brand New Restaurant, Brand New Storefront 5A-5B So. Fifth Ave. w/New 3 Phase Electrical Service, Back Flow Water Preventer, Brand New Ansul Fire Suppression System, New Hood, All New Duct Work. New Asphalt Roof (2011), Steam Boiler w/Oil and Gas Combo, with Two (2) 500 Gallon Above Ground Oil Tanks (1,000 Gallon Fully Enlosed w/Cement Blocks), New Hot Water Heater, Building is Currently Running on Gas, New Burner Control System which gets Serviced Annually. This Property sits in an "Opportunity Zone" which is Designed to Create High Yielding Investments through Tax Deferred Gains with 0% Capitol Gains Tax. No DHCR, No ETPA, No Rent Control/Stabilization, 5 Apartments All Free/Fair Market with 4 Store Fronts, No Violations, No Open Permits, and Brand New Certificate of Occupancy.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | - | - |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $14,450 | |
| Land Assessment | $4,100 | Total Assessment | $18,550 |
PROPERTY TAXES
zoning
| Zoning Code | DB-10 (DB-10 (Downtown Business District)) |
| DB-10 (DB-10 (Downtown Business District)) |
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