NuRealty Advisors Inc. is proud to present the Exclusive Listing of 1260-1264 and 1272-1276 Clay Avenue in Bronx, NY. The Property Highlights:
1) 8.82% Cap Rate at asking price
2) Property offers a MORTGAGE ASSUMPTION with a 75% Loan-to-Value (LTV) based on the asking price at an INTEREST RATE of 3.94% which is FIXED UNTIL JANUARY 2030.
3) There is an Active J51 Tax Credit which is valid until Year 2036. Property Taxes are currently $30K per year. A tremendous savings in cash flow for the next 13 YEARS!
4) Cash-on-Cash Return with Loan Assumption is OVER 18% in Year 1 and is projected to be nearly 25% by Year 7.
5) Two Gas Heat Boilers (No Oil!)
6) There are 57 Units with a Layout of One Studio, Eight 1BRs, Nine 2BRs, Twenty 3BRs, and Nineteen 4BRs. The apartments are a box layout (No Railroad).
7) Properties are masonry construction with steel staircases and new roofs
8) Property offers a substantially higher Legal Regulated Rent Roll.
- See attached Offering Memorandum
For further information, please contact Michael Nukho or Lukasz Przybylek of NuRealty Advisors Inc. at Team@NuRealtyAdvisors.com