261 French St - Apartments FOR SALE


New Brunswick, NJ 08901
$1,850,000 USD
215-454-2852
261 French St, New Brunswick, NJ for Sale
$1,850,000 USD
Apartments - FOR SALE
1/8
null | 7.2% Cap Rate

261 French St
New Brunswick, NJ 08901


HIGHLIGHTS

  • Value-Add Opportunity: Renovate Kitchen, Bathrooms, and Common Areas to Increase Rents
  • Downtown New Brunswick Location: Situated within Walking Distance of Rutgers University, NJ Transit, and Downtown Shopping and Restaurants
  • Strong Ed’s & Med’s Drivers: Minutes from Rutgers University, Robert Wood Johnson University Hospital, and Saint Peter's University Hospital
  • Transit-Oriented Location: Convenient Access to NJ Transit Rail Service, Routes 18 and 27, and the New Jersey Turnpike
  • Diversified Unit Mix: Mix of Studio, One-Bedroom, and Two-Bedroom Apartments Serving a Broad Tenant Base

OVERVIEW

261 French Street is an 11-unit apartment community located in the heart of New Brunswick, New Jersey. The Property features a diverse unit mix of four studio apartments, six one-bedroom apartments, and one two-bedroom apartment with spacious floor plans. Both the location and unit layouts appeal to young professionals, as well as the area’s growing workforce. The Property provides investors with stable in-place cash flow as well as a clear value-add opportunity through targeted apartment interior renovations and common area upgrades. By modernizing select units and enhancing shared spaces, new ownership can improve the resident experience, support continued rental growth, and capture additional upside through operational efficiencies and ancillary income generated by storage, laundry, etc. Residents benefit from immediate proximity to Rutgers University, Robert Wood Johnson University Hospital, Saint Peter's University Hospital, and the numerous restaurants, cafes, retailers, and entertainment venues located throughout Downtown New Brunswick. The Property is conveniently located near the NJ Transit Station, providing direct rail service to New York City and surrounding employment centers. The Property’s location offers convenient access to Route 18, Route 27, and the New Jersey Turnpike. 261 French Street presents investors with the opportunity to acquire a well-located multifamily asset offering stable in-place cash flow, meaningful value-add potential through apartment and common area renovations, and long-term demand drivers supported by the continued growth of Rutgers University, New Brunswick's healthcare sector, and the city's expanding employment base.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$240 USD /SF

# OF UNITS

11

PRICE/UNIT

$168,182

CAP RATE

7.2%

% 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

1950

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

5TH

APN/PARCEL ID

13-00425-0000-00004

ASK ABOUT THIS PROPERTY

215-454-2852

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215-454-2852

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