NuRealty Advisors Inc. is proud to present the Exclusive Listing for 156 Woodworth Avenue, Yonkers, NY 10701. The property is a 26 Unit multifamily building consisting of Eighteen 1BRs, Seven 1.5BRs and One 3BR & 2Bath. The property is a masonry construction and a walk-up. The owners are nearly complete with the Oil to Gas Conversion leaving all the benefits to the purchaser. Approximately $50K has been invested for this conversion. The purchaser can file an MCI and increase rents accordingly. The property is professionally managed by a third party management company. The Return on Investment (ROI) is excellent. At the asking price of $4.55M, using a 20% Equity Down Payment, and financing the transaction with an Interest Only option in Year 1, the property will offer returns as follows: 12.75% Cash-on-Cash, 6.14% Cap Rate, 11.42 Rent Gross Multiple and a Price Per Unit $175,000. The transaction also offers a DHCR Legal Rent Roll of $470,450 while the Actual/Preferential Rent is $398,369. That is an 18% opportunity to conveniently raise the rent roll.
|Property Address:||156 Woodworth Avenue, Yonkers, NY 10701|
|Layout:||Eighteen 1BRs, Seven 1.5BRs & One 3BR&2Bath|
|Numbers of Units:||26|
|No of Stories:||3|