The subject property is a 4 story 18-unit brick apartment building. The unit breakdown consists of (13) 1 Bedrooms & (5) 2 Bedrooms.
All units are individually metered with circuit breakers, intercom / buzzer system, security cameras.
237 FRANKLIN AVE MT. VERNON, NY
18 APARTMENTS
PRICE $2.35M
$ 245,904.00 GROSS INCOME
$ 44,000.00 TAXES
$ 8,600.00 INSURANCE
$ 4,200.00 WATER & SEWER
$ 16,500.00 CON ED
$ 8,700.00.00 MAINTENACE
$ $ 82,000.00 TOTAL EXPENSE
$ 163,904 NET OPERATING INCOME
The property is located in the South end of Mount Vernon comes with a more urban feel that its northern residential counterpart. The city diverse population lives multi-family homes and apartment buildings in architecturally historic neighborhoods. With a vast potential thriving downtown business district.
The property is located just 4 blocks from the Mount Vernon East Metro-North train station offering easy access to Grand Central to the south & Connecticut to the north.
Mount Vernon remains one of the fastest growing cities in the New York metropolitan area. It's no wonder so many city folk have migrated into the neighborhood. Bordering The Bronx's eastern end, Mount Vernon's South Side resembles a smaller New York City with its industrial businesses, commercial businesses and housing projects. A mere 12 miles from the mecca of midtown Manhattan, the community serves as an affordable option to living within the city's limits without sacrificing its amenities.
