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73 Units * 9% Return * 3.4% Assumable Mtg 1967-1971 Marmion Ave 73 Unit Apartment Building $14,667,408 CAD ($200,923 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,669,215
|
$32.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$50,077
|
$0.97
|
| Effective Gross Income |
$1,619,139
|
$31.43
|
| Taxes |
$155,339
|
$3.02
|
| Operating Expenses |
$501,013
|
$9.72
|
| Total Expenses |
$656,352
|
$12.74
|
| Net Operating Income |
$962,786
|
$18.69
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,669,215 |
| Annual Per SF | $32.40 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $50,077 |
| Annual Per SF | $0.97 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,619,139 |
| Annual Per SF | $31.43 |
| Taxes (CAD) | |
|---|---|
| Annual | $155,339 |
| Annual Per SF | $3.02 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $501,013 |
| Annual Per SF | $9.72 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $656,352 |
| Annual Per SF | $12.74 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $962,786 |
| Annual Per SF | $18.69 |
Property Facts
| Price | $14,667,408 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $200,923 CAD | 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 | $14,667,408 CAD |
| Price Per Unit | $200,923 CAD |
| 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®
Excellent Transit (89)
Bike Score®
Very Bikeable (72)
Property Taxes
| Parcel Number | 03107-0036 | Total Assessment | $1,490,438 CAD (2025) |
| Land Assessment | $572,112 CAD (2025) | Annual Taxes | $155,339 CAD ($3.02 CAD/SF) |
| Improvements Assessment | $918,326 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
03107-0036
Land Assessment
$572,112 CAD (2025)
Improvements Assessment
$918,326 CAD (2025)
Total Assessment
$1,490,438 CAD (2025)
Annual Taxes
$155,339 CAD ($3.02 CAD/SF)
Tax Year
2024
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73 Units * 9% Return * 3.4% Assumable Mtg | 1967-1971 Marmion Ave
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