115 North Feltus Street, South Amboy, NJ – a boutique, modern nine-unit property built in 2016.
Highlights:
• Nine (9) one-bedroom/one-bath apartments – each with modern finishes (granite countertops, stainless steel appliances, hardwood floors, in-unit W/D, HVAC)
• Year Built: 2016; well-maintained, turnkey asset
• Parking: 9 on-site spaces + 1 handicap space
o Asking Price: $2,400,000
o Current Rent Roll: $1,758 avg. vs. Pro Forma $2,222 avg. – clear upside on lease turnover
• Not subject to rent control – immediate ability to capture rental growth
• Prime commuter location – within walking distance to South Amboy Train Station (NJ Transit to NYC) and the South Amboy Ferry Terminal with direct service to Midtown and Downtown Manhattan
This property offers investors a rare opportunity to acquire a stabilized, Class-A multifamily asset with both near-term upside and long-term fundamentals in a transit-oriented location.