Cap Rate
6.27%
Units
18
Gross SQFT
13,300
NOI
$216,678
Property Type
Apartments
INVESTMENT HIGHLIGHTS
VALUE-ADD OPPORTUNITY
- 18 Units
- 39% Upside
- 6 Units Delivered Vacant
- 6.27% Cap Rate
- $192K Price Per Unit
- Average rent is $1,569 – market is $2,177 ($600+ difference upon turnover)
BUILDING HIGHLIGHTS
- Brick Building
- 16 Two & 2 One Bedroom Units
- Owned for 19+ Years
- Brand New Boiler & Water Heater – 2024
- Great Location in West New York
CONVENIENT TRANSPORTATION
- The building is approximately a 5-minute walk from the Park Ave at 64th St Bus Stop, offering a 20-minute trip into Midtown Manhattan via a quick transfer to a New York local or express bus at 30th St. at Pleasant Ave.
Broker of Record
- Patrick Forde
- License No. 2330333 (NJ)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End Ave,
Suite 1500 Nashville, TN 37203