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73 Units * 9% Return * 3.4% Assumable Mtg 1967-1971 Marmion Ave 73 Unit Apartment Building $14,731,907 CAD ($201,807 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 |
$1,676,555
|
$32.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$50,297
|
$0.98
|
| Effective Gross Income |
$1,626,259
|
$31.57
|
| Taxes |
$156,023
|
$3.03
|
| Operating Expenses |
$503,216
|
$9.77
|
| Total Expenses |
$659,238
|
$12.80
|
| Net Operating Income |
$967,020
|
$18.77
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,676,555 |
| Annual Per SF | $32.54 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $50,297 |
| Annual Per SF | $0.98 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,626,259 |
| Annual Per SF | $31.57 |
| Taxes (CAD) | |
|---|---|
| Annual | $156,023 |
| Annual Per SF | $3.03 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $503,216 |
| Annual Per SF | $9.77 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $659,238 |
| Annual Per SF | $12.80 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $967,020 |
| Annual Per SF | $18.77 |
Property Facts
| Price | $14,731,907 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $201,807 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 | $14,731,907 CAD |
| Price Per Unit | $201,807 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
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03107-0036 | Total Assessment | $1,520,571 CAD (2025) |
| Land Assessment | $583,679 CAD (2025) | Annual Taxes | $156,023 CAD ($3.03 CAD/SF) |
| Improvements Assessment | $936,892 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
03107-0036
Land Assessment
$583,679 CAD (2025)
Improvements Assessment
$936,892 CAD (2025)
Total Assessment
$1,520,571 CAD (2025)
Annual Taxes
$156,023 CAD ($3.03 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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