Cap Rate
5.5%
Price Per Unit
$194,000
Units
6
NOI
$64,200
Property Type
Apartments
VALUE-ADD OPPORTUNITY
- 6 Units
- 52% Upside
- $194K Price Per Unit (Average Rent of $1,349 vs Market Rent of $2,052 ($700+ difference on turnover)
BUILDING HIGHLIGHTS
- 6 Oversized Units with Box Layouts
- 4/6 Free Market Units
- 5/6 Two-Bedroom Units
- 3 Garage Parking Spots
- Separate Boilers & Hot Water Heaters
- Tenants Pay for Heat, Hot Water, Cooking Gas & Electric
- Landlord Pays for Water/Sewer & Common Area Electric
CONVENIENT TRANSPORTATION
- The building is a 2-minute walk from the JFK Blvd & 27th St. bus stop, offering direct access to the Journal Square PATH train and a 20-minute ride to Midtown Manhattan. It’s also an 18-minute walk to the 22nd 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