Description

Global Platinum Properties is pleased to present 51515163 S Vermont Avenue, a 21-unit mixed-use asset on three contiguous lots at the hard corner of Vermont Avenue and West 51st Place, in the heart of the Vermont Corridor. The property comprises 18,956 square feet of improvements across two 1924-vintage brick buildings: seven street-front retail spaces at grade and fourteen apartments above, plus a gated 26-space surface lot, an amenity that is genuinely scarce along this stretch of Vermont. Ownership completed a new electrical upgrade in 2026. In place, the asset produces $221,152 of net operating income against the $3,595,000 asking price, a 6.15% cap rate on day one, at 100% physical occupancy and with no capital required to achieve it. Underneath that income sits the real story. The residential schedule shows an average in-place rent of $1,251 against a $1,821 market rent, and the 17,280 SF C2-1VL-CPIO site sits within a Tier 3 Transit-Oriented Communities zone that supports, by right, a development program of up to 150 units.