Cap Rate
6.50%
Price Per Unit
$288,889
Units
18
Gross SQFT
13,389
Year Built
2024
NOI
$338,139
Property Type
Apartments
INVESTMENT HIGHLIGHTS
STABILIZED OPPORTUNITY
- 18 Units
- 6.50% Cap Rate
- 100% Free Market
- $288K Price Per Unit
- 5.63% Projected Cash-on-Cash
BUILDING HIGHLIGHTS
- New Construction – 2024
- 16 Residential Units
- 2 Commercial Units
- $288K Price Per Unit
- All Two-Bed Apartments
- 4 Units with Balconies
- In-Unit Washer Dryer
- Elevator Building
- Tenants Pay for Heat, Water/Sewer, Cooking Gas & Electric
- Landlord pays for only common area electric
CONVENIENT TRANSPORTATION
- The building is approximately a 3-minute walk to Martin Luther King Jr Dr at Stegman St Bus Stop which provides a 55-minute trip into Midtown Manhattan. Additionally, the property is located ± 2.5 miles from the Journal Square Path Station which offers direct access to NYC within 20 minutes.
Broker of Record
- Patrick Forde
- License No. 2330333 (NJ)
- (866) 889-0550
- Matthews Real Estate
- 1600 West End Avenue,
Suite 1500