5-7-9 Baker St 5 Baker St 11 Unit Apartment Building $4,023,633 CAD ($365,785 CAD/Unit) 5.89% Cap Rate Mohegan Lake, NY 10547
INVESTMENT HIGHLIGHTS
- Located between Cortlandt Town Shopping Center
- Long term tenants
- Parking for all tenants
- Adjacent to new Shop-Rite and new shopping center
- Commercial vehicle parking
- owner financing available
EXECUTIVE SUMMARY
The newest available investment opportunity in Northern Westchester. These bungalow style apartments are on a sizable lot right in the heart of Mohegan Lake. Located in an extremely desirable location, adjacent to the popular Cortlandt Town Center and newly built Shop-rite shopping center. This property includes 11 residential units, one office with a bathroom and storage, two rent-able garages, parking lot for tenants and commercial vehicles. This whole complex is fully occupied. All roofs, electrical and utilities are recently upgraded as well as most apartments. Existing pro-forma income and expenses yield a total net operating income of $166,000 annually. The total area is 1.3 acres. Demographically this property is located close to local transportation, high level education, employment and income. The list goes on with a great investment opportunity you don't want to miss.
FINANCIAL SUMMARY (ACTUAL - 2022) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $4,023,633 CAD |
| Price Per Unit | $365,785 CAD |
| Sale Type | Investment |
| Cap Rate | 5.89% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.30 AC |
| Building Size | 8,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1950 |
| Zoning | Highway Commercial |
AMENITIES
UNIT AMENITIES
- Storage Space
1 of 1
PROPERTY TAXES
| Parcel Number | 2289-024-006-00001-000-0017 | Total Assessment | $28,492 CAD (2023) |
| Land Assessment | $1,547 CAD (2023) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $26,945 CAD (2023) | Tax Year | 2022 |
