57 Turner St - Apartments FOR SALE


Mantua, NJ 08051
$450,000 USD
202-701-3322
57 Turner St, Mantua, NJ for Sale
$450,000 USD
Apartments - FOR SALE
1/21
null | 9.3% Cap Rate

57 Turner St
Mantua, NJ 08051


HIGHLIGHTS

  • Current rental rates are below market value, giving investors an immediate opportunity to increase rents and further maximize returns.
  • Turnkey, low-maintenance asset that includes modernized interiors, upgraded mechanical systems, and improved common areas, for long-term durability.
  • With minimal operating costs covering property taxes, water, sewer, and insurance, this property is designed to maximize profitability.
  • Located in a high-demand rental market, this property offers long-term stability and value appreciation.

OVERVIEW

Elite Holdings is pleased to present the prime investment opportunity with long-term tenants, below-market rents, and recent renovations of the triplex at 57 Turner Street. This high-performing multifamily property offers investors consistent cash flow, long-term tenants, and significant upside potential. With a 9.3% cap rate and an annual Net Operating Income (NOI) of $41,844, this asset delivers strong returns while maintaining a low expense-to-income ratio. Financial Highlights: Gross Income: $52,152 per year Net Operating Income (NOI): $41,844/ per year Total Expenses: Only $10,308 annually Cap Rate: 9.3% at a $450,000 asking price GRM (Gross Rent Multiplier): 8.63 Below-market rents – immediate opportunity for rental increases Fully renovated three years ago – in turnkey condition with modern updates Whether you're an experienced investor or looking for a turnkey, income-producing asset, this is an opportunity you don’t want to miss. Don’t wait—this high-yield, fully renovated investment property won’t last long.

FOR SALE DETAILS

PRICE

$450,000 USD

PRICE/SF

$66 USD /SF

# OF UNITS

6

PRICE/UNIT

$75,000

CAP RATE

9.3%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

R11

APN/PARCEL ID

10-00090-0000-00009

ASK ABOUT THIS PROPERTY

Aviram AdiElite Holdings, LLCMore Info
202-701-3322

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Aviram AdiElite Holdings, LLCMore Info
202-701-3322

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