521 60th St - Apartments FOR SALE
West New York, NJ 07093 |
$1,600,000 USD
201-685-3676
521 60th St
West New York, NJ 07093
HIGHLIGHTS
- Fully occupied 8-unit multifamily property generating consistent cash flow.
- Unit mix includes four 1-bedroom/1-bath units and four 2-bedroom/1-bath units.
- Current rents at 65% of market, offering strong upside through rent adjustments.
- Located one block from Bergenline Avenue with access to NJ Transit and light rail.
- Just two miles from the Lincoln Tunnel, providing direct access to Manhattan.
- Rent control in place, ensuring regulatory stability for long-term ownership.
OVERVIEW
- Fully occupied, cash flowing, 8-unit multifamily
- Four 1-bedroom /1-bathroom units & four 2-bedroom /1-bathroom units
- Current rents 65% of market
- Provides future upside through annual CPI increases up to 5% & capital improvements upon
vacancies
- Ideal for long-term buy/hold with improvements over time to unlock upside in apartment rents
FOR SALE DETAILS
PRICE
$1,600,000 USD
PRICE/SF
$314 USD /SF
# OF UNITS
8
PRICE/UNIT
$200,000
CAP RATE
Request Cap Rate
% LEASED
100%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
521 60th St, West New York, NJ
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1910
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.05 AC
LAND SF
2,178 SF
ZONING
C-R
APN/PARCEL ID
12-00127-0000-00003
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201-685-3676
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201-685-3676
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