660 Locust St - Apartments FOR SALE


Mount Vernon, NY 10552- North Side
$4,500,000 USD
212-776-4367
660 Locust St, Mount Vernon, NY for Sale
$4,500,000 USD
Apartments - FOR SALE
1/6
null | 6.16% Cap Rate

660 Locust St
Mount Vernon, NY 10552
North Side


HIGHLIGHTS

  • 31,250 SF, elevator apartment building.
  • Currently 93% occupied and cash flowing.
  • Ideal 1031 exchange opportunity.
  • Rent stabilized property.

OVERVIEW

Douglas Elliman Commercial, as the Exclusive Agent, is pleased to offer for sale, 660 Locust Street, which is located in the Fleetwood Neighborhood of Mount Vernon NY. The Multi Family investment asset is currently configured with 42 units, fully leased with a current vacancy rate of 7.1% (3 units). The property is a six-story elevator building, consisting of 31,250 sqft, with units ranging from Studios and Mid to Large 1-bedrooms. All units are currently designated as Rent Stabilized apartments. Built in 1929, the property offers historic charm and appeal. Each unit is adorned with pre-war detail. The current ownership and management has kept the building clean and well-maintained. The property amenities include a laundry room, and a community room which can be activated for parties, functions. Or potentially repurposed for additional income. The location offers easy access to public transportation, with the Fleetwood Metro North Station located 1 block away, which offers a 28-minute commute to Grand Central (NYC). Also located directly off the cross-county expressway with quick access to I-87 and I-95.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$144 USD /SF

# OF UNITS

42

PRICE/UNIT

$107,143

CAP RATE

6.16%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1929

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,258 SF

ZONING

RMF-15

APN/PARCEL ID

0800-165-029-01026-000-0007

ASK ABOUT THIS PROPERTY

Louis PuopoloDouglas Elliman Commercial Real EstateMore Info
212-776-4367

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Louis PuopoloDouglas Elliman Commercial Real EstateMore Info
212-776-4367

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.