14-16 W 1st St
Mount Vernon, NY 10550
The Reymen Building · Multifamily Property For Sale · 5 Units

Goad Real Estate Co. is Pleased to Present this Fully Occupied Mixed Use Retail/Apartment Building. This Property consists of Three (3) Brick Buildings, Four (4) Commercial Retail Tenants & Five (5) Residential Apartments, This Property is Located in The Heart of Mount Vernon's Downtown Business District, Zoning DB-10. ******Please See The Buildings Finacial Setup Listed Below in The Attachments***** This Building was Fully Gut Renovated Back in 2015/2016. 14 W. First St. is a 4 Story Brick Building with Three (3) 2BR Apartments and One (1) 2,100 +/- sqft Retail Store Front w/ Interior Basement. This space was Recently Leased to a Well Established Jamaican Food Restaurant and the space was recently built-out in 2015 with over $250,000.00 Invested into The Renovation The Rent for the Restaurant is $3,381.30 per month but the Fair Market Value is more than $4,000.00 per month. 16 W. First St. is a 3 Story Brick Building with Two (2) Apartments and One (1) Retail Store Front (This Store Front is The Old Master Unit for the Building) the Previous Owner of the Building Occupied This Space for Over 50+ years, This Storefront Features 1,500 +/- sqft of Prime Retail Space w/ Custom Boiler Cut of Switch, Interior Electronic Roll Down Gate w/Remote Access, Beautiful Store Front with Two Glass Displays, Upgraded Alarm Security System, Interior Walk In Basement (Finished). This Property Has New Replacment Windows, New Roof, Masonry Brick Pointed and Therosealed (Waterproofed). Super Efficient Steam Boiler Gas-Oil Combo w/New Burner Control (Boiler was Recently Serviced and Tuned Up w/ Chimney Cleaning), New Boiler Exhaust Vent Installed 2016, Two (2) 300 Gallon Above Ground Oil Tanks (Fully Enclosed), New Rheem Hot Water Heater, Back Flow Water Preventer, New Structural Steel Post, New Five a Half (5.5) Ton Central Heat-Air Conditioner (Resturant Permanent Fixture). 14-16 W. First St. Both Feature Central Heat & A/C, NO RENT CONTROL, NO ETPA, NO DHCR. The Third Property is a Single Story Brick Building with Over 875 +/- sqft of Prime Retail Space w/ Private Basement This Property Consist of Two (2) Retail Tenants, Ricardo's Shoe Repair (25+ year tenant) and Safe Cruz Driving School. 5A-5B South Fifth Ave has been Completely Fire Rated, New Roof, New Structural Joist, New Store Front (Installed by Sabinsky Glass '15) Seperate Water Meter, Seperate Gas Meter, Seperate Electric Meter. Additional Features of 14-16 W. First St. (See Below) New Mail Boxes, New Intercom System, New (4) Camera DVR Surveillance System, Hallways Freshly Painted, Landing & Steps Covers Are Newly Installed, All Apartments Have Been Completely "Gut Rehabbed". C.M.A. (Comparable Market Analysys) CAP RATE of Similar Properties That Are Currently on The Market (See Below). $153,394.22 at 6.9% Cap Rate = $2.25M