59 Railroad Ave

washington boro, NJ 07882-1831

1.319.000 US$

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    Value-add 6-unit multifamily with a clear, validated path to continue growing NOI while delivering the immediate cash flow and stability of a core-plus investment at a 7.1% cap rate on current financials. The property generates more than $132,000 in annual gross income from 6 apartments, 3 garages and 5 storage units in a detached building. Current apartment and ancillary rents remain below market, providing approximately $11,800 of additional annual income before any further unit renovations. Additional upside remains through completion of a renovation program already successfully executed within the same property. Current ownership has invested more than $225,000 in capital improvements since 2023, completing renovations across 4 units while addressing major capex items and deferred maintenance throughout. The remaining scope is limited to 2 partially updated units (flooring and paint) providing buyers with a clearly defined renovation strategy that has demonstrated its ability to achieve higher rents on site. Environmental items have been proactively addressed, rigorous screening has resulted in a high-quality, stable tenant base, and established property management software, systems, and operating procedures support an efficient transition for new ownership. Located approximately 60 minutes from NYC, the property offers convenient access to Routes 57, 31, and I-78, and is within walking distance of downtown.

    Detalles

    5,141 Sq Ft

    0.24 Acres privados Tamaño del lote

    comercial

    1665 US$ Impuesto mensual

    Creado en 1925

    MLS/ID del anuncio 4043878

    3 Historias

    6 Unidades

    Servicios y características

    Public Water

    Public Sewer

    Construction - Wood

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    COSTO MENSUAL TOTAL

    0 US$

    • PRINCIPAL E INTERÉS

      0 US$

    • IMPUESTOS SOBRE LA PROPIEDAD

      0 US$

    • Gastos comunes

      0 US$

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