142 N Terrace Avenue, Mount Vernon, NY 10550
- $1,095,000
- 10
- BD
- 5
- BA
- List Price
- $1,095,000
- Price Change
- ▲ $100,000 1787328228
- Days on Market
- 234
- MLS#
- 952048
- Status
- ACTIVE
- Property Type
- Triplex
- Year Built
- 1940
- Property Tax
- $16,500
- Neighborhood
- Mount Vernon
- School District
- Mount Vernon
- Elementary School
- Hamilton
Property Description
This property is being sold based on the HUGE Rental revenue, Positive cash flow and Renovated BEAUTIFUL condition. The is a Legal 3 family home which consists of 3 UNIITS and an additional finished walkout Garden apartment with a legal kitchen and bath. Units consist of the following: 4 bedroom 2 bath ( $2929 Monthly Rent) 3 bedroom 1 bath ( Currently Vacant) , 2 bedroom 1 bath ($2537 Rent) , 1 bedroom 1 bath ( $1830 rent) . Currently the 3 bedroom apartment is vacant and the property is still grossing over $87,000 per year!! Why only live rent free when you can live in this apartment and still generate a positive cash flow!! When this apartment is rented out the Building Gross Rental Revenue is a WHOPPING $121, 752. Yes you read correctly- $121, 752!!!! As a bonus Tenants pay for their own cooking gas, electric and hot water. This is a rarity amongst Multi Families and makes this your perfect home or investment cash cow!! Selling at approximately 8.5 % Cap rate. All program rents increase at approximately 3.5 % per year so cash flow will grow each year.
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Additional Information
- Bedrooms
- 10
- Bathrooms
- 5
- Full Baths
- 5
- Acres
- 0.08
- Parking
- Off Street
- Basement
- None
- Heating
- Baseboard, Natural Gas, Other
- Cooling
- None
- Water
- Public
- Sewer
- Public Sewer
Mortgage Calculator
Listing courtesy of Listing Agent: Daniel Feder (Dan@GetMeMyHouse.com) from Listing Office: Bayview Realty.
Listings courtesy of OneKey® MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.