Gloucester City Portfolio is a collection of 16 residential units and 1 commercial unit across 15 parcels in Gloucester City, New Jersey. The Portfolio offers a diverse unit mix consisting of one-bedroom (6%), two-bedroom (13%), three-bedroom (50%), four-bedroom (12%), and five-bedroom (19%) units, with an average in-place rent of $1,773 per unit.
Current occupancy stands at 100%, with gross potential rent of $340,404 annually from the residential component and an additional $10,000 per year from the commercial tenant, providing immediate and stable cash flow. In-place rents, however, remain approximately 9% below proposed market levels, presenting a straightforward mark-to-market opportunity as leases turn.
The Portfolio further benefits from ancillary income streams, including utility reimbursements, late fees, and other charges. With minimal near-term capital needs, investors can focus on unlocking value through rent growth and tighter expense management, resulting in a compelling balance of current yield and long-term upside.
Strategically located in Gloucester City, the Portfolio offers residents immediate access to Philadelphia via the Walt Whitman Bridge, I-76, and Route 130, making it a desirable option for workforce tenants seeking larger unit sizes and attainable housing. The submarket is supply-constrained, with limited new multifamily development, supporting durable occupancy and long-term rent growth.
With stable cash flow in place, below-market rents, and a strong location adjacent to the Philadelphia Metro, the Gloucester City Portfolio represents an attractive opportunity to acquire a well-performing multifamily and mixed-use package that combines immediate income with a clear path to upside.