MultiFamily Property for Sale at 253 East 206th Street

Seller Financing

• Rate: 5.00%

• Proceeds: $2,000,000 ($1,000,000 Down Payment)

• Term: 5 years | 2 Years Interest Only

• Amortization: 30 Years

• Prepayment Penalty: None

• 100% Free Market | 2019 Construction:

253 East 206th Street is a 100% free market asset, built without any tax abatement. The building was issued its final certificate of occupancy in 2019.

• Value-Add:

Current rents are 30% below market, presenting an opportunity for significant upside through turnover or Section 8 / City Program Vouchers. The average rent is $1,944 per apartment per month.

• The Building:

This 10 unit walk-up is composed of 3 studios, 5 one- bedrooms, and 2 two-bedrooms. There are currently 2 vacant units.

• Prime Location

This building is just steps from Montefiore Hospital, Bronx Park, Fordham University, The New York Botanical Garden, and the Norwood Subway Station.

• Tax Class Protected:

253 East 206th Street is a tax class 2B asset, with tax liability capped at 8% per year or 30% over 5 years.