$922K NOI | CREOP

• 57 Units offered at an 8.02% Cap Rate • Assumable Mortgage (3.94% Interest Rate) locked until Year 2030 • Active J51 Tax Credit locked until Year 2036. • 4 Buildings • Two Gas Boilers operate all Four Buildings (No Oil!) • Current NOI: $922K • Cash-on-Cash Return with Loan Assumption is 15% just in Year 1 and is projected to be nearly 22% by Year 7 • Legal Rent is substantially greater than Preferential (Actual) Rent • The property has over 60% of its rental income guaranteed by programs such as Section 8.

The Bronx is a great place to live in New York City. Home to the famous Yankee Stadium, New York City Botanical Gardens, and the largest urban zoo, The Bronx Zoo, this New York City borough is full of things to enjoy. The Bronx is located between the Harlem neighborhood of Manhattan and the Westchester/Yonkers area. The Bronx is one of the most diverse areas in the country. One of the most famous destinations for food-ies is Arthur Avenue in Belmont (which is also known as “The Little Italy” of The Bronx).
The Bronx is one of the most fascinating boroughs of NYC. The construction of the neighborhoods and the decimation that followed in the 70s make each street full of history, character and excitement. There are plenty of unique aspects about The Bronx, for one, it is the only NYC borough that has a definite article in its name!

The Bronx is a great option for families because the borough is typically more affordable than Manhattan, Brooklyn, Staten Island and Queens. According to price comparisons, rent and restaurant prices are cheaper in The Bronx than in other parts of the city.
Though there are loads of affordable areas of The Bronx, there are also several affluent neighborhoods with higher real estate prices like Spuyten Duyvil, Riverdale and Morris Park. These areas (located in the West Bronx) offer more suburban style living, complete with front yards and car garages. These quaint, tree-lined communities are great for families or those looking to get away from the hustle and bustle of the city.

Transportation in The Bronx is easy. Like in other boroughs of New York City, subways and buses that are part of the Metropolitan Transportation Authority (MTA) can help transport you from neighborhood to neighborhood or borough to borough. In The Bronx alone, there are 70 different subway stations, nine of them being express-local trains that can get you quickly to and from your destination. . Another advantage of living in The Bronx is that parking is much easier to find than in other boroughs, and street traffic is not as heavy.