43 Belmont Ave - Apartments FOR SALE


Garfield, NJ 07026
$3,300,000 USD
973-747-9718
43 Belmont Ave, Garfield, NJ for Sale
$3,300,000 USD
Apartments - FOR SALE
1/3
null | 4.92% Cap Rate

43 Belmont Ave
Garfield, NJ 07026


HIGHLIGHTS

  • Valid DCA State Inspection - Inspection certificate good through 2031
  • Significant Rental Upside - 20%+ in residential rents
  • No Rent Control - Garfield is a no rent control municipality
  • Low Maintenance Property
  • Access to Mass Transit - Less than 1-mile from Garfield Train Station & NJT bus stop across the street

OVERVIEW

The Belmont Avenue apartments consist of fifteen (15) apartments over two (2) retail storefronts. The residential unit mix consists of one (1) studio/ 1BA unit, thirteen (13) 1BR/ 1BA units, & one (1) 2BR/ 1BA units. Landlord responsibilities include paying for the heat, hot and cold water, and common electric. Tenants pay for their own cooking gas and electricity. The property has been owned by the same family for 40+ years and provides investors with a rare value add multifamily opportunity in a Bergen County municipality with no rent control.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$660 USD /SF

# OF UNITS

15

PRICE/UNIT

$220,000

CAP RATE

4.92%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1934

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,693 SF

ZONING

B1

APN/PARCEL ID

21-00107-0000-00033

ASK ABOUT THIS PROPERTY

Casey EganRIPCO Real EstateMore Info
973-747-9718

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Casey EganRIPCO Real EstateMore Info
973-747-9718

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.