641 Lincoln Ave - Apartments FOR SALE
Orange, NJ 07050 |
$5,985,000 USD
862-309-5617
641 Lincoln Ave
Orange, NJ 07050
HIGHLIGHTS
- 641 Lincoln is a 42-unit, gut renovated, value-add investment property in Orange, New Jersey
- Property consists of 1 studio, 39 one-bedroom, 1 two-bedroom, and 1 three-bedroom apartments
- 641 Lincoln has been managed, renovated, and cared for by high quality ownership for ~10 years
- The property offers substantial upside with 21% below market rents providing a $305 average per unit delta to market
- 60% of housing units in the TMA are renter occupied with 22% of the population being in the key renter age group (18-35)
- Ideal location in the heart of Essex County just off Scotland Road and only a 10-minute walk from South Orange’s NJ Transit Station – Mountain Station
FOR SALE DETAILS
PRICE
$5,985,000 USD
PRICE/SF
$225 USD /SF
# OF UNITS
42
PRICE/UNIT
$142,500
CAP RATE
5.79%
% LEASED
100%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
The Lincoln Peak
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Mid-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
5
YEAR BUILT
1929
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.21 AC
LAND SF
9,191 SF
ZONING
N/Av
APN/PARCEL ID
17-06301-0000-00012
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862-309-5617
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862-309-5617
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