Prime South Apartments is a newly constructed boutique multifamily asset located along South Avenue in Plainfield, New Jersey. Completed in 2023, the property consists of 20 residential units and one ground-floor retail space, offering investors stabilized in-place income with clear operational upside.
The residential units feature oversized one- and two-bedroom layouts, private balconies, in-unit washers and dryers, and modern finishes throughout. The property has achieved stabilization under original developer ownership, providing immediate cash flow with minimal near-term capital requirements.
Prime South is located approximately 0.5 miles from Netherwood Station, offering direct NJ Transit service to Newark Penn Station and Manhattan. In-place rents remain below comparable new construction in the immediate area, creating a straightforward path to rent growth through professional management. In addition, the ground-floor retail space remains underutilized, offering incremental NOI potential through lease-up.
This offering presents an opportunity to acquire a modern, transit-oriented multifamily asset with durable income characteristics and a defined path to improved performance without development or repositioning risk.