• Stable, Income-Producing Asset
Fully occupied 10-unit multifamily asset generating a 6.1% CAP rate and 6.12% year-one cash-on-cash return based on in-place income.
• Attractive Unit Mix with Strong Rent Spread
Featuring a diverse mix of studios, 1BRs, and 2BRs — including one large 5-bedroom, 3-bath unit — the property caters to a wide tenant base. Current rents total $16,183/month versus registered rents of $20,267/month, suggesting immediate upside.
• Efficient Operations & Predictable Cash Flow
Operating expenses total just $66,503 annually, equating to roughly $6,650/unit, with limited landlord-paid utilities due to tenant-metered systems.
• Below-Market Acquisition Opportunity
Offering provides strong fundamentals with room for rent increases and operational enhancements.
• Hard Asset in High-Density Urban Corridor
Located in West New York, just blocks from major transit corridors, retail, and a short commute to Manhattan, this property is positioned for long-term appreciation.
• Additional Revenue from On-Site Parking
Two leased parking spaces generate ancillary income, with potential to expand or increase rates in future.