5 Vacant Units * Free Market * 11% Cap Rate ! | 210-230 Pelham Rd
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5 Vacant Units * Free Market * 11% Cap Rate ! 210-230 Pelham Rd
5 Unit Apartment Building $1,528,650 CAD ($305,730 CAD/Unit) 10.65% Cap Rate New Rochelle, NY 10805
Investment Highlights
- 5 Vacant 1BR Units * Free Market * No Rental Regulation (Rent as you wish to programs etc)
- 11% Cap Rate and 25% Cash-on-Cash Return based on 75% Loan-to-Value (LTV)
- Landlord not responsible for utilities
Executive Summary
NuRealty Advisors Inc. is excited to present an exclusive investment opportunity at 210-230 Pelham Road, New Rochelle, NY 10805. The investment offers:
• Five (5) * Vacant * Free-Market * One-Bedroom Co-op Units in a prestigious luxury complex located on the harbor, boasting breathtaking water and garden views
• Numerous amenities, ensuring maximum rental appeal including but not limited to: Fitness Center, Rooftop Deck, Renovated Common Areas, Working Spaces etc.
• No Board Approval Required: Rent each unit freely without co-op board restrictions
• Units can be sold individually, offering long-term exit strategies
• Based on a Proforma Rental of $2,675.00 per month, the deal offers an 11% Capitalization Rate and a 25% Cash-on-Cash Return!
This is an easy deal to own without the day-to-day headache of a normal property as you are leveraging off of the in-place management for the complex!
See attached Offering Memorandum and contact Team@NuRealtyAdvisors.com for more information.
• Five (5) * Vacant * Free-Market * One-Bedroom Co-op Units in a prestigious luxury complex located on the harbor, boasting breathtaking water and garden views
• Numerous amenities, ensuring maximum rental appeal including but not limited to: Fitness Center, Rooftop Deck, Renovated Common Areas, Working Spaces etc.
• No Board Approval Required: Rent each unit freely without co-op board restrictions
• Units can be sold individually, offering long-term exit strategies
• Based on a Proforma Rental of $2,675.00 per month, the deal offers an 11% Capitalization Rate and a 25% Cash-on-Cash Return!
This is an easy deal to own without the day-to-day headache of a normal property as you are leveraging off of the in-place management for the complex!
See attached Offering Memorandum and contact Team@NuRealtyAdvisors.com for more information.
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$228,231
|
$1.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,847
|
$0.03
|
| Effective Gross Income |
$221,384
|
$1.00
|
| Taxes |
$21,330
|
$0.10
|
| Operating Expenses |
$37,239
|
$0.17
|
| Total Expenses |
$58,569
|
$0.26
|
| Net Operating Income |
$162,815
|
$0.74
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $228,231 |
| Annual Per SF | $1.03 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,847 |
| Annual Per SF | $0.03 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $221,384 |
| Annual Per SF | $1.00 |
| Taxes (CAD) | |
|---|---|
| Annual | $21,330 |
| Annual Per SF | $0.10 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $37,239 |
| Annual Per SF | $0.17 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $58,569 |
| Annual Per SF | $0.26 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $162,815 |
| Annual Per SF | $0.74 |
Property Facts
| Price | $1,528,650 CAD | Apartment Style | Mid Rise |
| Price Per Unit | $305,730 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 3.38 AC |
| Cap Rate | 10.65% | Building Size | 3,750 SF |
| Gross Rent Multiplier | 6.7 | Average Occupancy | 0% |
| No. Units | 5 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 1953 |
| Property Subtype | Apartment |
| Price | $1,528,650 CAD |
| Price Per Unit | $305,730 CAD |
| Sale Type | Investment |
| Cap Rate | 10.65% |
| Gross Rent Multiplier | 6.7 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 3.38 AC |
| Building Size | 3,750 SF |
| Average Occupancy | 0% |
| No. Stories | 6 |
| Year Built | 1953 |
Unit Amenities
- Dishwasher
- Microwave
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $3,804 CAD | 800 - 850 |
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Walk Score ®
Very Walkable (83)
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5 Vacant Units * Free Market * 11% Cap Rate ! | 210-230 Pelham Rd
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