201-355-3103
1279-1283 Springfield Ave, Irvington, NJ for Sale
Apartments - FOR SALE
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1279-1283 Springfield Ave
Irvington, NJ 07111


HIGHLIGHTS

  • Washer & Dryer Installed in-unit
  • Central Air/Heat
  • Fully Leased
  • Assumable Loans
  • Can be sold separately or together

OVERVIEW

TWO PROPERTIES CAN BE SOLD SEPARATELY OR TOGETHER. COMBINED LOT SIZE OF 17,054 SF 1279-1281 Springfield Ave - Block 344, Lot 13 - asking $1,500,000 1283 Springfield Ave - Block 344, Lot 12 - asking $850,000 This investment property portfolio is currently generating an annual gross rent of $220,663 (from 10 residential units). After deducting operating expenses, the NOI is currently at $166,163. Another value add for this property is the prospective subdivision and development project that can be explored for the vacant land in rear portion of the property. See attached Survey and Offering Memorandum. Discover a premier investment opportunity at 1279-1283 Springfield Ave, Irvington, NJ! This Fully Leased two property multifamily portfolio totaling 9,600 SF rentable space is strategically located in a vibrant neighborhood, with substantial returns. Boasting excellent proximity to major transportation hubs and urban amenities, it ensures high tenant demand and occupancy rates. The property's 1, 2, & 3 BR unit configurations cater to a wide range of renters and maximizing rental income. With more land included for development opportunity and Irvington's ongoing development and revitalization efforts, this asset presents a compelling case for capital appreciation and long-term growth. Seize this chance to invest in a thriving market with robust income.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

10

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1952

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

R-4

APN/PARCEL ID

09-00344-0000-00012,09-00344-0000-00013

ASK ABOUT THIS PROPERTY

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201-355-3103

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201-355-3103

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