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73 Units * 9% Return * 3.4% Assumable Mtg 1967-1971 Marmion Ave 73 Unit Apartment Building $10,750,000 ($147,260/Unit) 6.56% Cap Rate Bronx, NY 10460
INVESTMENT HIGHLIGHTS
- Assumable Mortgage of $7.4M with 3.43% Interest Rate based on Interest Only Payments. Three Years Remaining
- High Legal Rent Roll of $1,360,000
- Cash-on-Cash Return of 9% to 11% with Loan Assumption
EXECUTIVE SUMMARY
NuRealty Advisors Inc. is proud to present the Exclusive Listing for 1967-1971 Marmion Avenue, a classic pre-war masonry building located in the thriving East Tremont submarket of the Bronx.
This well-maintained property features 73 residential units, offering a desirable mix of:
• 46 – 1BRs
• 24 – 2BRs
• 3 – 3Brs
Key Investment Highlights:
• Assumable mortgage of $7,410,000 at a favorable 3.43% interest rate, based on interest-only payments, with 3 years remaining. The loan is held with Freddie Mac, offering investors an immediate financing advantage in today’s lending environment.
• Cash-on-Cash Return of 9% to 11% with Loan Assumption
• Gas-fired heating system
• Walk-up configuration (no elevator) promoting operational efficiency and reduced overhead
• High legal rent roll of $1,360,000
• Offering price of $10,750,000 which his a near 7% cap rate, presenting a rare opportunity to acquire a stable, cash-flowing asset in a strong rental market
Walking distance to the Subway & Metro North Train Station, providing easy access to Manhattan and the greater NYC region.
For more information, please contact Team@NuRealtyAdvisors.com
This well-maintained property features 73 residential units, offering a desirable mix of:
• 46 – 1BRs
• 24 – 2BRs
• 3 – 3Brs
Key Investment Highlights:
• Assumable mortgage of $7,410,000 at a favorable 3.43% interest rate, based on interest-only payments, with 3 years remaining. The loan is held with Freddie Mac, offering investors an immediate financing advantage in today’s lending environment.
• Cash-on-Cash Return of 9% to 11% with Loan Assumption
• Gas-fired heating system
• Walk-up configuration (no elevator) promoting operational efficiency and reduced overhead
• High legal rent roll of $1,360,000
• Offering price of $10,750,000 which his a near 7% cap rate, presenting a rare opportunity to acquire a stable, cash-flowing asset in a strong rental market
Walking distance to the Subway & Metro North Train Station, providing easy access to Manhattan and the greater NYC region.
For more information, please contact Team@NuRealtyAdvisors.com
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$1,223,397
|
$23.75
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$36,702
|
$0.71
|
| Effective Gross Income |
$1,186,695
|
$23.03
|
| Taxes |
$113,851
|
$2.21
|
| Operating Expenses |
$367,201
|
$7.13
|
| Total Expenses |
$481,052
|
$9.34
|
| Net Operating Income |
$705,643
|
$13.70
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $1,223,397 |
| Annual Per SF | $23.75 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $36,702 |
| Annual Per SF | $0.71 |
| Effective Gross Income | |
|---|---|
| Annual | $1,186,695 |
| Annual Per SF | $23.03 |
| Taxes | |
|---|---|
| Annual | $113,851 |
| Annual Per SF | $2.21 |
| Operating Expenses | |
|---|---|
| Annual | $367,201 |
| Annual Per SF | $7.13 |
| Total Expenses | |
|---|---|
| Annual | $481,052 |
| Annual Per SF | $9.34 |
| Net Operating Income | |
|---|---|
| Annual | $705,643 |
| Annual Per SF | $13.70 |
PROPERTY FACTS
| Price | $10,750,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $147,260 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.54 AC |
| Cap Rate | 6.56% | Building Size | 51,520 SF |
| Gross Rent Multiplier | 8.79 | Average Occupancy | 100% |
| No. Units | 73 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | ||
| Zoning | C4-4A | ||
| Price | $10,750,000 |
| Price Per Unit | $147,260 |
| Sale Type | Investment |
| Cap Rate | 6.56% |
| Gross Rent Multiplier | 8.79 |
| No. Units | 73 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.54 AC |
| Building Size | 51,520 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built | 1926 |
| Zoning | C4-4A |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 46 | - | - |
| 2+1 | 24 | - | - |
| 3+1 | 3 | - | - |
1 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Rider's Paradise (98)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 03107-0036 | Total Assessment | $1,092,600 (2025) |
| Land Assessment | $419,400 (2025) | Annual Taxes | $113,851 ($2.21/SF) |
| Improvements Assessment | $673,200 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
03107-0036
Land Assessment
$419,400 (2025)
Improvements Assessment
$673,200 (2025)
Total Assessment
$1,092,600 (2025)
Annual Taxes
$113,851 ($2.21/SF)
Tax Year
2024
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73 Units * 9% Return * 3.4% Assumable Mtg | 1967-1971 Marmion Ave
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