Cap Rate
6.07%
Price Per Unit
$206,428
Units
14
Gross SQFT
11,000
NOI
$175,463
Property Type
Apartments
INVESTMENT HIGHLIGHTS
VALUE-ADD OPPORTUNITY
- 14 Units
- 32% Upside
- 6.07% Cap Rate
- Average Rent of $1,595 vs Market Rent of
- $2,100 ($500+ difference upon turnover)
BUILDING HIGHLIGHTS
- 12 of 14 Free Market Units
- Mostly 2- & 3-Bed Units
- Tenants Pay for Heat, Hot Water, Cooking Gas & Electricity
- Landlord Pays for Water/Sewer & Common
- Area Electric
- Updated Common Areas
CONVENIENT TRANSPORTATION
- The building is a 1-minute walk from the JFK Blvd & 54th St. bus stop, offering direct access to the Journal Square PATH train and a 50-minute ride to Midtown Manhattan. It’s also a 20-minute walk to the 45th St. Light Rail, conveniently connecting tenants to the rest of Hudson County and NYC.
Broker of Record
- Patrick Forde
- License No. 2330333 (NJ)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 52 Park Avenue,
Suite B5, Park Ridge NJ 07656